Investment Plan: You will get a lot of money, if you keep money in this scheme you will get assured returns.

Saving from employment is a part of future planning. Now many people save money in the form of savings, many again invest the saved money in different ways and hence move forward towards better returns. In this situation, some people take risks and move towards the stock market, but most people still trust reliable government investment companies. And as there are many banks in this sector, so is the popularity of the post office.

Many people like post office investment. A good option in this case is Post Office Receipt Deposit. This scheme is suitable for investors who do not want to take any risk on their money and want assured returns on investment. At present 6.5 percent interest is available on the post office’s recording deposits. This compounding of interest is done on a quarterly basis. Apart from this, a minimum investment of Rs 100 per month can be made in this scheme. There is no maximum investment limit. You can invest as many multiples of Rs 10 as you wish. There is no upper limit for investment in this case.

Recurring deposits can also be made in banks. SBI’s Recurring Deposit interest rate for tenure less than 1 year to 2 years is 5.10 percent, for tenure less than 2 years to 3 years the interest rate is 5.20 percent. For tenure less than 3 years to 5 years the interest rate is 5.25 percent, for tenure up to 5 years and 10 years it is 5.50 percent. ICICI’s Recurring Deposit gives interest ranging from 4.75 percent to 7.10 percent for regular citizens and 5.25 percent to 7.50 percent for senior citizens.

For example, if you invest Rs 10 thousand monthly in Post Office RD, then after 5 years you will get a return of more than Rs 7 lakh at maturity. In this, your total investment will be Rs 6 lakh and you will get a guaranteed interest of Rs 1,09,902. Also, this recording deposit account can be extended for another 5 years after completion of 5 years. Thus, if you continue with this scheme for 10 years, your total guaranteed corpus will be 1689871.

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