Planning to Invest ₹3,500 Monthly? Know Your 5-Year Post Office RD Returns
Post Office RD Calculation: How Much Will ₹3,500 Per Month Grow in 60 Months: The Post Office offers citizens the option to invest in a variety of savings schemes. In addition to standard savings accounts, a variety of accounts can be opened at the Post Office, including recurring deposit accounts, PPF, Kisan Vikas Patra, TD accounts, and MIS. Here, we’ll learn about the Post Office RD account. RD, or recurring deposit, is a savings scheme that requires a fixed monthly deposit. Like banks, RD accounts can also be opened at the Post Office.
Post Office Offers 6.7% Annual Interest on RD Accounts:
The Post Office is currently offering its customers an annual interest rate of 6.7% on its RD scheme. You can start saving with a monthly investment of just ₹100 under the Post Office RD scheme, with no maximum investment limit. This means you can deposit as much as you wish. To open an RD account at the Post Office, you must have a Post Office savings account.
Post Office RD Account Matures in 60 Months:
The Post Office RD scheme matures in 5 years, or 60 months. However, you can extend it for another 5 years. If you deposit Rs. 3,500 every month into the Post Office RD scheme, you will receive a total of Rs. 2,49,776 at maturity, i.e., after 60 months. This includes the Rs. 2,10,000 deposited and Rs. 39,776 in interest.
