Post Office RD Scheme: Save money for the future, no longer luxury, is needed. If you have money for needs like medical emergency, children’s education or retirement, then mental peace remains. Post office Recurring Deposit (RD) scheme is considered a great option. This scheme is running the government. The common and middle classes give a chance to prepare a big fund by saving small amounts.
What is the post office RD?
RD i.e. recurring deposit is a savings scheme in which you deposit the amount fixed every month. Interest is received on this amount and over time this amount turns into a large amount. The RD of the post office is special because it is a government guarantee scheme. That is, your money is completely safe.
How much can be earned?
Post office RD can be started from just 100 rupees a month. If you deposit Rs 10,000 every month and this series lasts for 5 years, then you will get about Rs 7,13,659 on maturity. It will have your deposit amount of Rs 6 lakh and Rs 1,13,659. The scheme for July to September 2025 quarter is getting 6.7% annual interest, which is compound every three months.
Loan can be found if needed
If you have run the RD account for one year, then you can also take a loan of up to 50% of your deposit amount. However, the interest rate on this loan will be 2% higher than the interest rate of RD.
For whom is this scheme?
This scheme is especially beneficial for those who want to prepare for the future by saving a little amount every month. It also includes salary employees, small traders, laborers, housewives and students.
The post office RD scheme has a period of 5 years. However, it can be extended to 5 years if you want. That is, this scheme is beneficial for saving for long periods.
How to open an account?
You will need Aadhaar card, PAN card and passport size photo to open RD account. It is necessary to deposit the amount once every month. If you do not deposit on time, then there is a penalty. Now this scheme can also operate online.