Post Office RD: Calculate Post Office RD for Rs 1000, Rs 5000 and Rs 10,000 per month. The Post Office RD scheme is currently offering an interest rate of 6.2% to the depositors.
Post Office RD: The Post Office RD scheme is currently offering an interest rate of 6.2% to depositors (with effect from April 1, 2023). The minimum investment allowed in this scheme starts from Rs 100 per month. There is no maximum limit on the amount you can invest in this scheme.
Deposit in Post Office RD scheme matures in 5 years (after 60 months of deposit) from the date of account opening. According to the post office website, account holders are allowed to extend the account for another 5 years by submitting an application to the concerned post office.
How much will be the benefit in RD of Rs 5000 per month?
The calculation reveals that a monthly contribution of Rs 5000 for the Post Office RD scheme will create a corpus of Rs 3.52 lakh in 5 years. If you extend the account for another 5 years, the total amount in 10 years would be Rs 8.32 lakh.
How much will be the benefit in RD of Rs 1000 per month?
The calculation reveals that a monthly contribution of Rs 1000 for the Post Office RD scheme will result in a corpus of Rs 70,431 lakh in 5 years. If you extend the account for 5 more years, the total amount in 10 years would be Rs 1.66 lakh.
How much will be the benefit in RD of Rs 10000 per month?
Calculations reveal that a monthly contribution of Rs 10,000 to the Post Office RD scheme will result in a corpus of Rs 7.04 lakh in 5 years. If you extend the account for another 5 years, the total amount in 10 years would be Rs 16.6 lakhs.
Who can open Post Office RD Account?
Post Office RD Account can be opened by an individual, jointly (up to 3 adults, or by a minor above 10 years). If the depositor fails to make the prescribed subsequent deposit for one month, the default charge is Re 1 per Rs 100. The account is closed after four regular defaults.
