Post Office Scheme: If you want to secure your future, investing is very important. Every person should invest according to his capacity because it helps in increasing your money. Even the children of the house should be explained the importance of saving and investing from childhood. If you cannot invest a large amount, then save small amounts and invest them, you can also accumulate a lot of money from that. If you do not want to take any kind of risk regarding your investment, then you can choose the government scheme.

One such scheme that provides risk-free and fixed income is the Post Office Recurring Deposit Account. It is also called Post Office RD. This scheme of the Post Office is for 5 years. If you save just Rs 100 every day and invest it, then you can accumulate an amount of lakhs of rupees in 5 years.

This is the magic of saving 100 rupees.

If you save 100 rupees every day, you will save 3,000 rupees in a month. In this way, you can invest 3,000 rupees every month in the post office RD scheme. At the rate of 3,000, you will deposit 36,000 rupees annually. In this way, you will invest a total of 1,80,000 rupees in 5 years. Currently, this scheme is giving 6.7% interest. According to this, in 5 years you will get 34,097 rupees as interest, and on maturity, you will get 2,14,097 rupees. In this way, with small savings, you will save a good amount and you will not even know. Let us tell you that according to the information available on the post office website, an RD account can be opened in the post office with just Rs 100, while there is no maximum limit for investment in it.

Loan facility also

You can also take a loan on the RD account in the post office at the time of need. According to the rules, after depositing 12 installments, up to 50 percent of the amount deposited in the account can be taken as a loan. There is a facility to repay the loan in a lump sum or installments. The interest rate of the loan will be 2 percent more than the interest received on RD. There is also a facility for nomination in this.

You can also get the RD extended.

If you want to take advantage of RD even after 5 years, then you can get it extended for the next 5 years. The same interest will be available in the extended account which was applicable at the time of opening the account. The extended account can be closed anytime during the extension. In this, the interest rate of the RD account will be applicable for full years, and for years less than one year, interest will be given as per the savings account. For example, if you close the extended account after 2 years and 6 months, then you will get interest at the rate of 6.7 percent for 2 years, while on the amount of 6 months, you will get interest at the rate of 4% as per post office savings account.

Rules for closing it before maturity

If needed, you can close it midway after three years from the date of opening the account. But if you close this account even a day before the maturity period, then you are given interest equal to that of a post office savings account. Currently, 4% interest is being given on post office savings accounts.