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Post Office Rd: Open the account in the name of the child with just 1 thousand rupees, chance to get up to three and a half lakhs in 25 years

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new Delhi. Every parent wants their child’s future to be bright. There should not be any financial problem in his studies or marriage. For this, they invest from the beginning. If you are planning something similar, then it will be beneficial for you to invest in a 5-year Post Office Recurring Deposit Account (RD) of the Post Office Recurring Deposit Scheme. In this, you can open an account with just 1 thousand rupees. In return you will have a profit of more than three and a half lakh rupees after 25 years. So what is this scheme and how to get more returns, know full detail.

Feature of post office RD scheme
The 5-year Post Office Recurring Deposit Account (RD) scheme of the post office is currently offering 5.8% interest. This interest is annual, but is applied on a quarterly compound interest basis. In this scheme you can also get income tax exemption. You can open RD account in single or joint. If you are opening an RD account in the name of the child, then in case the child is a child, it is possible to transfer the account to his / her name. Before this, parents take responsibility for the account.

Important things related to RD
The post office recurring deposit account (RD) has a maturity period of 5 years, but you can extend it further if you wish. Those who want to close the account before five years, they also get the option. However, you will be able to do this only when the RD account is 3 years old. If you withdraw money first, you will be given interest only equal to the post office savings account. However, if you wish, this RD account can be transferred to any post office in the country.

Learn how to make a profitable deal
If you have started RD in the name of a child and run 1 thousand rupees every month for 25 years, then you will get more interest than the principal. Because the principal is deposited around 3 lakh, you will get around 675,300 rupees by applying interest on it. That is, you will get Rs 375,300 as interest.

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