Post Office Scheme: Save ₹333 Daily and Get ₹17 Lakh
If you are looking for a safe investment option, the post office can be a great choice. These schemes are secure, government-backed, and provide handsome returns. Among them, the Post Office Recurring Deposit (RD) Scheme stands out. With just ₹100, you can start your investment journey. By saving ₹333 every day, you can build a fund worth more than ₹17 lakh over time.
6.7% Assured Interest on RD
Under the Post Office RD Scheme, the government currently offers an interest rate of 6.7%. The minimum investment is ₹100 per month. Anyone can open an account under this scheme—even minors as young as 10 years can have an RD account through their parents. Once the minor turns 18, they need to submit fresh KYC documents to continue the account. The account can also be opened online via mobile or internet banking.
Maturity Period – 5 Years
The RD scheme has a maturity period of 5 years, which can be extended further if you wish. Investors also have the option to prematurely close the account after completing 3 years. In case of the account holder’s death, the nominee can either withdraw the funds or continue the investment.
Monthly Deposit Rules
The scheme has specific rules regarding monthly deposits:
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If the account is opened before the 16th of the month, then the subsequent deposits must be made by the 15th of every month.
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If the account is opened after the 16th, then the deposits must be made between the 16th and the last day of each month.
How Saving ₹333 per Day Turns into ₹17 Lakh
Now, let’s break down the calculation.
- By saving ₹333 per day, your monthly investment becomes ₹10,000.
- Over 5 years, you would invest ₹6 lakh in total. At 6.7% interest, you would earn an additional ₹1.13 lakh, making your maturity amount ₹7.13 lakh.
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If you extend the investment for another 5 years (total 10 years), your total principal would be ₹12 lakh. The interest earned over 10 years would be around ₹5,08,546, making your final maturity amount ₹17,08,546.
This way, by investing just ₹333 daily in the Post Office RD scheme, you can accumulate more than ₹17 lakh in 10 years.
Example with Lower Investment
Even if you invest ₹5,000 per month instead of ₹10,000 and continue for 10 years, you will still accumulate ₹8,54,272, out of which ₹2,54,272 will be earned as interest.
Conclusion
The Post Office RD Scheme is one of the safest and most rewarding small savings options available in India. With disciplined investment—even as little as ₹333 per day—you can create a large financial cushion for the future.
