Post Office RD: Savings of Rs 990 will receive Rs 69,002, you will need to invest as follows
Repetitive deposit is also a popular scheme in many postal systems because in this case, interest is not limited, but large amounts can be invested in small investments.
Best Post Program
Repetitive deposit is an old way for ordinary people to save money. The great advantage of this investment method can be that by investing a small amount every month, one can make a large corpus. In fact, if you suddenly need a large amount, you will have to ask people for a loan or use a credit card. But if you keep investing in a limited amount of time, then you will never know and it will be useful for you in difficult times. In this case, a recurring deposit is helpful. We tell you about a postal refund scheme, where you can earn more than Rs 69,002 by depositing Rs 990 every month.
In fact, a recurring deposit i.e. RD in postage gives an annual interest rate of 5.80 percent. In that case, if you deposit Rs 990 per month for 60 months, your total deposit amount is Rs 59,400. You earn interest of Rs 9,602 on this amount. In this way your price increased to Rs 69,002.
how to open an account
Anyone can open their account at the post office, as this should go to your nearest post office and fill out an application form with the required information and send it. Up to 7.4 percent interest is available on various postal systems. At the same time, you can also find information on other schemes including recurring bills through India Post, a postal website. Every month you have to set a fixed amount on a double mail deposit. You can choose this amount.
Why Repetitive Deposit is Better
Repetitive deposit is also a popular scheme among many postal savings schemes because it not only earns good interest, but the system is also very good at investing in small amounts. The Indian Post Office also provides various banking and remittance services from 1.5 lakh post offices around the country. Where different schemes offer different benefits. If you also want to add a good value for less money, then you can consider this option.
