Post Office RD Scheme
As a one-time deposit scheme, you can get up to Rs 16 lakh after 10 years even if you only invest once.
If you plan to invest for a long period of time, you can invest in the 'Kisan Vikas Patra' (Kisan Vikas Patra 'KVP) scheme of the post office. By investing in this program, you can double your income. This is one of the best selling post office programs. Not only is this program safe, but By investing only Rs.100 per month you can get huge amount. However, there is no maximum limit on the amount that can be invested. Post Office RD Deposit Account is a government guarantee scheme for depositing small installments with excellent interest rate.
If you invest Rs 10,000 every month, that too for 10 years, then at the end of the project you will get Rs 16.28 lakh. The thing to note is that if you do not deposit the RD installment on time, you will have to pay a penalty. If the installment is delayed, You have to pay a one percent penalty every month. This way, if you do not deposit four installments in a row, your account will be closed. However, once the account is closed, it can be reactivated for the next two months
INTEREST?
You must open an RD account at the post office for at least 5 years. Interest is calculated on each quarter (at an annual rate). It will be added to your account with compound interest at the end of each quarter. According to the India Post Office website, the RD scheme currently carries an interest rate of 5.8%.
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