Post Office RD: Make a monthly deposit of Rs 5,000 to get over Rs 3,5 lakh; see this page for further information

 Post Office RD: Make a monthly deposit of Rs 5,000 to get over Rs 3,5 lakh; see this page for further information

Post Office RD: The Small Savings Scheme is a great choice if you want to invest in government savings plans. For a very long time, investing in Post Office plans carries no risk and offers assured profits. These are more advantageous choices for those who want to minimize risk.

Post Office RD: The Small Savings Scheme is a great choice if you want to invest in government savings plans. For a very long time, investing in Post Office plans carries no risk and offers assured profits. These are more advantageous choices for those who want to minimize risk. The Post Office Small Savings the rates of interest for the October–December 2023 quarter have been made public by the government. This has resulted in a 20 basis point rise in the interest rates on Post Office Recurring Deposits.

You will now experience this level of interest in Post Office RD.

The statement from the Finance Ministry states that there has been a 20 basis point rise in interest rates for post office recurring deposits. The five-year post office RD will now get 6.7 percent annual interest from October 1, 2023, to December 31, 2023, as opposed to 6.5 percent.

This much interest will be paid to you if you put Rs 5,000 in an RD.

You would invest Rs 60,000 in a year and a total of Rs 3,00,000 in five years with a monthly RD of Rs 5,000. After five years, you would get Rs 56,830 as interest at a rate of 6.7%. At maturity, you will get Rs 3,56,830. A monthly investment of Rs 3,000 in RD will yield an annual investment of Rs 36,000. In five years, you would have invested a total of Rs 1,80,000. The post office's RD calculator indicates that you would get Rs 34,097 in interest based on the current interest rates. At maturity, you will get a total of Rs 2,14,097.

Three months from now, interest rates are reassessed.

On the interest received on RD, TDS is subtracted. Ten percent TDS is applied to the interest rates obtained on RD. TDS shall be withheld if the interest on the RD for a month exceeds Rs 10,000. Every three months, the Central Government's Finance Ministry assesses the interest rates offered by modest savings plans. This quarter, from October to December, during the holiday season, the government has only altered the interest rates on five-year recurring deposits. Interest rates have been applied at the previous rate to the remaining programs.