Post Office RD Update Check Online: There are many post office schemes regarding small savings and Recurring Deposit schemes. Today we will know about such a scheme of India Post, in which you can become a millionaire by depositing 5000 rupees every month (Post Office RD Account). This is a 5 year recurring deposit scheme of the post office.
Post Office RD Update Check Online
At present, interest is being received at the rate of 5.8 percent per annum in Recurring Deposit. The calculation is done on a quarterly basis. A minimum of Rs 100 can be deposited in this (Post Office RD Account). From 1 April 2020, the government has not made any change in the interest rate. Single and maximum 3 adults together can open this account jointly.
At least 100 rupees will have to be deposited every month: Recurring Deposit Update
At least 100 rupees will have to be deposited every month in the Post Office Recurring Deposit account. More than that can be deposited in multiples of 10. If you have opened an account (Post Office RD Account) till 15th of the month, then submit SIP between 1st-15th of every month. If the account is opened after 15th, then deposit the installment from 16th to the last working day of the month.
If the deadline is missed, a late fee of Re 1 per month per Rs 100 SIP will be charged. If the Recurring Deposit installment has not been deposited in a month, then you will have to deposit the amount of that month first (Post Office RD Account)! After that you can deposit the amount for the second month.
By depositing Rs 5000 in Recurring Deposit, you will get 8.13 lakhs.
Suppose you deposit Rs 5000 every month. According to the Recurring Deposit calculator, at an interest rate of 5.8 percent, you will get a total of Rs 3 lakh 48 thousand 480 in the next five years (Post Office RD Account)! Your deposit amount will be Rs 3 lakh, on which you will get a return of around 16%.
Post Office RD Account Latest Update Check
According to the rules, this scheme can be extended for 5 years (Post Office RD Account). In this case, after 10 years, you will get a total of 8 lakh 13 thousand 232 rupees. The total deposit amount will be Rs.6 lakh. In this way, the net return in Recurring Deposit will be more than 35 percent.
Loan can be available after 12 months, know Recurring Deposit interest rate
If you have a recurring deposit account, then after depositing for 12 months, you also get the facility of loan. The loan amount can be deposited in lump sum or in installments. The loan interest rate will be 2 percent more than the RD return rate (Post Office RD Account)! If the loan is not repaid till maturity, the loan amount along with maturity interest will be deducted and the balance amount will be paid in the Recurring Deposit.
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