Post Office RD: Make an investment of Rs 5,000 in the Post Office RD Scheme, which would yield Rs 3.5 lakh at maturity

Post Office RD: Make an investment of Rs 5,000 in the Post Office RD Scheme, which would yield Rs 3.5 lakh at maturity

Post Office Small Savings Plan: The Post Office offers a number of guaranteed-return small savings plans. Certain post office networks also provide loan service and refunds. You may take out a loan in addition to receiving assured returns on post office regular deposits.

Post Office Small Savings Plan: The Post Office offers a number of guaranteed-return small savings plans. Certain post office networks also provide loan service and refunds. You may take out a loan in addition to receiving assured returns on post office regular deposits. You may set aside money each month via RD, deposit it, and earn pre-determined interest.

Loans are available on Post Office RD.

Loans against post office RD accounts are available to customers. It is required to pay 12 installments if you are considering taking out a loan against a registered dividend that was established at the post office. Hence, in order to get your RD, you had to have finished a year. Only half of the amount in an RD account holder's account may be lent by the post office. You have the option of repaying the loan balance in whole or in installments. The consumer will pay two percent more in interest than the RD interest rate on this loan that was obtained from the post office. Assume that if the interest rate on your RD is 6.3 percent, the loan interest rate will be 8.3 percent.

How to borrow money using RD

You must visit your post office and fill out a loan form together with your passbook in order to obtain a loan on an RD account. Only after all the processes are finished will you get the loan from the post office.

What level of attention is paid to post office 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%. You will get Rs 3,56,830 at maturity. 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. You will get a total of Rs 2,14,097 upon maturity.

Rate of interest for postal schemes

Annual Rate of Return (Post Office Rate): 6.7% (previous interest rate was 6.5%)

7.7% of all National Savings Certificates (NSCs)

7.5% of the population is Kisan Vikas Patra (KVP) (mature in 115 months).

PPF: 7.1%

8.2 percent is the Sukanya Samriddhi Yojana (Account).

Senior Citizen Savings Program: 8.2%

7.4% is the monthly income scheme (Post Office Monthly Scheme).