Check returns calculation on Post Office RD Scheme if you invest of Rs 10,000, Rs 20,000 or Rs 30,000 monthly for 5 years.
Post Office Scheme: Post office’s Recurring Deposit (RD), or National Savings Recurring Deposit Account (RD), scheme are small savings schemes. Investors can deposit their specific shares on a monthly basis and get a maturity amount after 5 years. The scheme provides 6.7 per cent annual interest. A minimum amount of investment one can start with is Rs 100 per month or any amount in multiples of Rs 10 in the scheme. There is no maximum limit for deposit in the post office scheme.
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Post Office Scheme For Single, Husband & Wife, Girls Or Women
Investors can open a single or a joint account as per their requirement.
In case you want to invest it for your kid, you can open it as a guardian on behalf of a minor. A minor above 10 years of age can open the post office RD account in their own name.
Investors can also take a loan against its post office RD. After 12 installments are deposited and the account is continued for 1 year and not discontinued, the depositor may avail a loan facility up to 50 per cent of the balance credit in the account.
Post office RD has a maturity period of 5 years, but investors can extend it for 5 years more. Though the maturity is 5 years, 3 years from the date of its opening, users can close their account, as per their wish.
If investors extend the post office RD after 5 years, they can close it anytime in the extended period after 5 years.
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Post Office RD Scheme Returns Calculator: On Rs 10,000, Rs 20,000, Rs 30,000 (Monthly)
Kindly note the below calculation is done assuming you pay Rs 10,000, Rs 20,000, Rs 30,000 monthly and deposit the money till tha maturity period of 5 years.
Post Office RD: Maturity amount on Rs 10,000 monthly investment
If an investor invests in a post office RD is Rs 10,000 monthly.
In 5 years, the total investment will be Rs 600,000, the estimated interest will be Rs 1,13,659, and the estimated maturity amount will be Rs 7,13,659.
Post Office RD: Maturity amount on Rs 20,000 monthly investment
If an investor invests Rs 20,000 a month, the total investment will be Rs 12 lakh,
Estimated interest will be Rs 2,27,315, and the estimated maturity amount will be Rs 14,27,315.
Post Office RD: Maturity amount on Rs 30,000 monthly investment
On a Rs 30,000 monthly investment in post office RD, the total investment will be Rs 18 lakh,
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Estimated interest will be Rs 3,40,974, and the estimated maturity amount will be Rs 21,40,974.
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