Post office: Invest in this scheme of post office, you will accumulate 10 lakhs in so many years

Savings are a very important part of anyone's life. If you have money saved, then you do not need to beg in front of others at the time of need. Because when difficult times come in life, relatives and friends may not be of help to you. But if you have savings, then it can definitely be useful. That is why different people invest money in different places.

So that they can save for the future. Some invest in mutual funds. Some invest money in the stock market, some deposit money in bank FD. Some deposit money in government savings scheme. If you are also looking for an option for savings, then this scheme of post office can be very useful for you. By investing in this, you can deposit up to 10 lakh rupees in this time.

Invest in RD scheme of post office

Many people invest in many savings of post office. If you are also looking for a way to invest, then the Post Office Recurring Deposit Scheme can be very useful for you. In the Post Office Recurring Deposit Scheme, you are currently getting 6.7% interest on your investment. If you deposit Rs 7,000 every month in this scheme, then you can deposit Rs 4,20,000 in 5 years. If you calculate the amount of interest at the interest rate of 6.7% in 5 years, then it comes to Rs 79,564, i.e. a total of Rs 4,99,564. But if you extend the scheme for another five years, then you can deposit around Rs 10 lakh. How to open an account in the scheme? To open an account in the Post Office Recurring Deposit Scheme, you will first have to go to your nearest post office. There you will have to submit the necessary documents which include documents like application form, passport size photo, address proof, PAN card. After filling the application form, give your application form to the post office employee along with all these documents. After this, your recurring deposit account will be opened in the post office. In which you will have to pay installment every month. You will have to deposit the first installment through cash or cheque.

(PC: Freepik)