Deposit Rs 3500 per month in this post office scheme, you will get full Rs 2.49 lakh in 5 years, know how

RD Calculator: These days the post office has come out with an important scheme for the consumers. The name of this scheme is Post Office Recurring Deposit i.e. RD. Under the scheme, consumers are being given about 6.7 percent interest. The special thing is that the interest received in this scheme is calculated every three months. That is, the interest earned in three months is added to the total amount and interest is started. This means getting returns upon returns.

It is important to understand the mathematics of RD scheme.

For example, if an investor deposits a typical amount of Rs 3,500 every month in this government scheme with full responsibility, then after 5 years i.e. a total of 60 months, the total amount invested by him will be Rs 2,10,000 i.e. by the end of 5 years, the total investment from your pocket will be Rs 2.10 lakh. With a compound interest rate of 6.7%, if you honestly deposit Rs 3,500 every month for 5 years, you will get around Rs 39,000 only as interest. In this way, when 5 years of your RD scheme is completed, including the total amount deposited and interest, you will get a total of Rs 2,49,000.

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Money is completely safe in the scheme

The most important thing is that your money remains 100% safe in the scheme. To start this account, no huge amount is required, rather you can start investing with a very small amount. The need to invest on a fixed date every month creates adherence to economic rules. The interesting thing is that this scheme has been made keeping in mind the needs of every section of the society, hence its reach and popularity remains intact even today in every village and city.

However, before investing in Post Office RD, keep in mind that the interest rates can be revised by the government from time to time, hence your current maturity amount should somewhat match the exact date of deposit and the rules applicable at that time.

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