Superhit postal scheme: major news! Make a monthly deposit of Rs 5,000 to get more than Rs 3.5 lakh from this program. Learn more about the program

 Superhit postal scheme: major news! Make a monthly deposit of Rs 5,000 to get more than Rs 3.5 lakh from this program. Learn more about the program

The government has raised the interest rates on post office RD. Post office superhit plan. As of October 1, the new interest rates are in effect. How much return will you obtain with the new interest rates if you now start a monthly RD of USD 2000, USD 3000, or USD 5000 in this circumstance? Understand the calculations.

There is excellent news for you if you too want to invest in Post Office RD. The government has raised the interest rate on post office 5-year recurring deposits in honor of the holiday season. The revised pricing will take effect on October 1st. Let us inform you that starting on October 1, interest on your 5-year RD will be paid at the rate of 6.7% instead of the previous 6.5%. It has been raised by the government by 20 basis points. How much return will you obtain with the new interest rates if you now start a monthly RD of USD 2000, USD 3000, or USD 5000 in this circumstance? Understand the calculations.

Upon depositing Rs.

You will invest Rs 24,000 in a year and Rs 1,20,000 in five years if you establish an RD that would pay Rs 2,000 each month for five years. You would get Rs 22,732 as interest in this case at the new interest rate of 6.7%. In this case, after 5 years, you would have received Rs. 1,42,732 in addition to your deposited money and interest.

When putting in Rs.

If you wish to begin an RD paying Rs 3,000 a month, you would need to invest Rs 36,000 in a year and Rs 1,80,000 over the course of 5 years. According to the Post Office RD Calculator, you will get Rs 34,097 in interest and Rs 2,14,097 at maturity based on the revised interest rates.

On a 5,000 rupee investment

Starting an RD of Rs 5,000 every month will result in an investment of Rs 3,000,000 over the course of five years. The Post Office RD Calculator estimates that you would get Rs 56,830 in interest at a rate of 6.7%. On maturity, you will earn Rs 3,56,830 in this manner.

every three months, interest rates are reviewed.

Every three months, the Central Government's Finance Ministry evaluates the interest earned on microsavings programs. The interest is then adjusted for the next quarter. The government only altered the interest rates on 5 year recurring deposits over the holiday season. On the remaining schemes, the previous interest rates will continue to be in effect. Let us inform you that the government has raised the interest rates for the Sukanya Samriddhi Yojana (SSY), National Savings Certificate (NSC), Senior Citizen Savings Scheme (SCSS), and Post Office Monthly Income Scheme (POMIS) in recent quarters. The PPF rates, however, remained unchanged as of April 1, 2020.