Great news on the Post Office RD account! Check the conditions and deposit Rs 5,000 each month to earn interest of Rs 56,830 in the Post Office RD

 Great news on the Post Office RD account! Check the conditions and deposit Rs 5,000 each month to earn interest of Rs 56,830 in the Post Office RD

Great news on the Post Office RD account! Check the conditions and deposit Rs 5,000 each month to earn interest of Rs 56,830 in the Post Office RD

Post Office RD: The Small Savings Scheme is a great choice if you want to invest in government savings plans. Through post offices, the government administers a number of minor savings programmes. In these programs, guaranteed returns are provided.

Post Office RD: The Small Savings Scheme is a great choice if you want to invest in government savings plans. Through post offices, the government administers a number of minor savings programmes. With these systems, returns are guaranteed. You may also invest monthly savings each month if you don't have a large sum to invest all at once. Yes, you are able to make a monthly fixed investment in a Post Office Recurring Deposit. The interest rates on Post Office RD have been altered by the government. The five-year post office RD will get 6.7 percent annual interest from October 1, 2023, to December 31, 2023, as opposed to 6.5 percent.

Interest will be paid to you if you invest Rs 5,000 in 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.

Every three months, the Post Office Savings Scheme is modified.

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.