Post Office: Get ₹20 lakh in 5 years from Post Office RD, know how much investment will be done every month

 If you are also looking for a safe and guaranteed savings plan for any big expenses of your future - like children's education, marriage or buying a house, then Post Office's 5-year Recurring Deposit (RD) scheme can be the best option for you. The special thing is that in this scheme you can prepare a large fund through small monthly investments.

How much interest will you get?

This Post Office RD scheme offers 6.7% annual interest rate, which is based on quarterly compounding. That is, interest also increases your capital every three months.

Need 20 million in 5 years? So invest this much every month

If your plan is to have a fund of Rs 20 lakh ready after five years, then for this you will have to deposit around Rs 28,100 every month in the post office's RD.

• Total Investment Amount : ₹16,86,000
• Interest earned : ₹3,19,382
• Maturity Amount : ₹20,05,382

Minimum investment and other benefits

• You can start this plan from as low as ₹100 per month.
• There is no maximum investment limit.
• This scheme is fully government guaranteed, meaning your money is completely safe.
• Changes in interest rates are reviewed every quarter.

For whom is it beneficial?

If you want to save regularly without risk and you need a fixed amount at fixed time, then this scheme is perfect for you. Employees, business people or housewives - all can benefit from this scheme.