This scheme of Post Office will give you huge profits by investing just Rs 5000

Post Office Schemes: Due to losses in the stock market, most consumers are now turning to safe investments. They want to take minimal risk and earn more profit. For this reason, the post office has launched the Small Savings Scheme. This scheme provides investors with safe investments with guaranteed income. It includes many programs, in which you can invest and deposit large amounts.

One of these is the Recurring Deposit Scheme (RD Scheme) with a maturity period of five years. Go to your nearest post office to open an account under the Post Office Recurring Deposit Scheme. You can start investing in it with just Rs 100. The maturity period of post office RD is five years, but this savings scheme also provides the option to terminate the account before the expiry of time.

RD Scheme Rate

After three years, the investor can get early closure. It also provides loan facilities. After the account is open for one year, up to 50% of the deposit amount can be taken as a loan. However, the interest rate of the loan is 2% higher than the interest rate. Talking about the interest rate under this scheme, it gives 6.8% interest.

You will get lakhs of rupees in five thousand

If you invest Rs 5,000 every month in Post Office RD, you will deposit a total of Rs 3 lakh during the five-year maturity period of the scheme. At the rate of 6.7 percent, Rs 56,830 will be added to the interest amount. This is the calculation for both investment and interest. Your total amount in five years will be Rs 356,830.

Now, if you continue the RD account for another five years, you will have deposited Rs 6,00,000 in a period of ten years. Thus, the interest amount on this deposit at the rate of 6.7% will be Rs 254,272. In this way, the total amount you have deposited in a period of ten years is Rs 8,54,272.