Small savings gives a big benefit
New Delhi: People are afraid to invest because of Corona. Even mutual funds are not considered safe in the stock market. Due to which people are looking for new means of investment. In such a situation, the post office has emerged as a good investment option. Here the interest rate is also good with a money guarantee. Post Office Recurring Deposit (RD) account is a popular option to invest small savings (POST OFFICE SMALL SAVING SCHEME). A minimum investment of Rs 100 can also be made in RD. Here you get returns according to the fixed interest on your deposited money. Although it is a small saving scheme, by investing in it, you can make a big profit.
Recurring deposits are maturing in 5 years, but you can extend it even further by 5 to 5 years by applying. The special thing is that you can also invest in this scheme online, that is, you will not need to go out. With a daily savings of 50 rupees, you can create a fund of up to 4.3 lakhs in a few years. Do not understand that by saving 50 rupees every day, you will be able to invest the monthly amount of 1500 rupees. If the interest on RD is getting 5.8% quarterly, then at 5 years’ maturity, the amount will be Rs 1.05 lakh. And the same amount will increase to Rs 4.3 lakh at 15 years maturity.
Feature of RD – We have already told you that you can extend its maturity period by 5-5 years. But apart from this, there are many special things like-
Up to 3 people can join a single account.
There is also a facility to create a nominee in the account.
Names of children above 10 years of age can also be opened by the account guardian under his care.
You can deposit at least 100 rupees per month in the RD account and the maximum amount in multiples of 10.