Post Office RD Scheme: How much return will you get on depositing ₹ 1500?

Nowadays everyone is looking for a safe and profitable investment, and the Post Office RD Scheme (Recurring Deposit) can be a great option. If you are thinking of opening an account in the bank and are unable to decide which scheme to invest in, then this scheme of the post office can help you. But we would advise you to get complete information about this scheme before opening an account to make the right decision.

What is the Post Office RD Scheme?

The Post Office RD Scheme is a government scheme, which is completely safe. It is also called a recurring deposit or recurring deposit account. This scheme allows you to create a good fund for the future by depositing small amounts regularly. Being a government scheme, your money is completely safe in it, so people invest in it without any fear.

Interest rate and maturity

The maturity period of the Post Office RD scheme is 5 years, after which you get your deposit amount and the interest on it together as a return. Currently, an interest rate of 6.7% is being given on this scheme, which is quite attractive. This interest rate is updated regularly, so keep getting information from the post office from time to time.

Account opening process

To open an account in the Post Office RD scheme, you have to go to the nearest post office. This scheme is available in the post office of every state. You can open an account in it single, joint, or with three people. An account can be opened in it with a minimum of ₹ 100, and there is no maximum investment limit.

Documents required to open an RD account

While opening an account, you must have some necessary documents. These include an Aadhaar card, PAN card, voter ID, driving license, passport, passport-size photo, and mobile number.

How much will you get on depositing ₹ 1500?

If you deposit ₹ 1500 every month in the RD scheme of the post office, then the total deposit amount will be ₹ 90,000 in 5 years. At an interest rate of 6.7% on this, you will get an additional benefit of ₹ 17,050, which will give you a total return of ₹ 1,07,050 on maturity. If you want to close the account if needed, then this option is also available after 3 years.

Why is this scheme beneficial?

The RD scheme of the post office is ideal for those who are looking for safe and guaranteed returns. In this, you can create a big fund in the long term with small investments, as well as the risk is also low. Being a government scheme, the safety of your money is completely ensured in it. So friends, if you are also looking for a safe and reliable investment option, then this RD scheme of the post office can be a great option for you.