new Delhi. In today’s time people have become the most reliable post office related schemes, which helps you to collect fat funds after depositing small amount for a fixed period. People have a lot of hope from the post office, so when it comes to savings, first of all, the first office is of the postoffice, because of the unwavering trust of the post office. There is a definite return here. The post office recurring deposit scheme is a unique scheme in itself. In this scheme, the depositor gets interest at the rate of 7.10 per cent. In today’s date, people can raise big funds with this kind of scheme.
If someone deposits 1000 rupees a month in the post office’s recurring deposit scheme, then the interest on it will be at the rate of 7.10 per cent. Which will be 12,468.84 rupees in a year. If the same amount is deposited for 5 years, then a fund of Rs. 72, 122.97 will be collected according to 1000 rupees per month. There will be a principal of 60 thousand rupees and interest of Rs 12,122.97 will be added.
Some special rules of Recurring Account
Two people can also run the post office recurring deposit scheme. If the account is opened at the beginning of the month i.e. 1st step, then you can deposit in it till 15th of the month. The account of Recurring Deposit can be opened in any branch of any post office in the country.
8.4 percent interest is the highest return
There are many savings schemes running in the post office, from 4% interest to 8.3% interest. If you want detailed information about this, then the information of all the schemes can be found on the India Post website.