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Post Office Savings Scheme details are given here.Small savers prefer Post Office’s various savings schemes. For the middle class people to invest their small savings, the Post Department runs several good savings schemes with good interest rates. One such good savings scheme of Post is Recurring Deposit Scheme. In which the interest rate is also high.
Post Office Savings Scheme
Various post office savings schemes are the preferred investment option for the middle class of the country. Post office schemes offer guaranteed returns. Post office also runs schemes in which you can get good returns by investing every month.
You can save some money from your budget every month and invest in these schemes. Post office is offering customers RD i.e. Recurring Deposit, in which you have to deposit money every month. You are given interest on it.You can start investing in it with as little as 100 rupees per month.
Post RD Interest Rate
Recently, the central government has increased the rate of interest on recurring deposits from 6.2 percent to 6.5 percent. The interest money earned on recurring deposits does not change much at the beginning of the investment. It has fixed interest. You just have to deposit money every month. Let’s know how much rupees you will get on depositing in RD every month.
If you depositing 2,000 rupees every month
If you invest Rs 2000 per month in Recurring Deposit, you will get Rs 1,41,983 back on maturity. If you are investing 2000 rupees per month, you will invest 24000 rupees per year at the rate of 66 rupees per day.
which will be Rs 1,20,000 rupees in five years. In that you will get interest of 21983 rupees. On maturity you will get a total of Rs 1,41,983.
If you depositing 4,000 rupees every month
If you invest Rs 4000 per month in a recurring deposit, you will get Rs 2,83,968 on maturity. If you invest 4000 per month then you have to invest 133 rupees per day. Accordingly, an annual investment of 48000 rupees has to be made.
This will become 240000 rupees in a period of five years. In that you will get interest of Rs 43968. You can get Rs 2,83,968 back on maturity.
After Five Years
|Invest Rs 2000||Get 1,20,000 + 21,983 = Rs 1,41,983|
|Invest Rs 4000||Get 2,40,000 + 43,968 = Rs 2,83,968|
Increase the rate
By how much percent did the government increase the rate of interest on recurring deposits? The government has increased the rate of interest on recurring deposits from 6.2 percent to 6.5 percent.
How to Open Account in Post Office Savings Scheme
publish office Saving Schemes are appropriate for individuals with a low-hazard urge for food. The returns from these schemes are not liable to market fluctuations, making them best for danger-averse buyers who still want to make the maximum of their financial savings. you may open a post office savings scheme account online via internet banking, cellular app or via downloading the account establishing form.
Open Through Internet Banking
- Sept 1: Open Department of Posts (DOP)
- Step 2: click on the ‘New user Activation’ button.
- Step 3: enter the ‘consumer identification’ and ‘Account identification’ and click the ‘retain’ button. you may also visit your own home put up workplace department, fill out the software form for activating net banking and publish with required files.
- Step 4: as soon as internet banking is activated, input your person identification and password to log in to your DOP net banking.
- Step 5: click on on the ‘trendy carrier’ tab on the menu and click on at the ‘provider Request’ tab.
- Step 6: under the ‘provider Request’ phase, click on the ‘New Requests’ tab.
- Step 7: select the kind of account you want to open from the more than one options.
- Step 8: input the info on the utility form and click the ‘put up’ button.
Open Through Mobile App
- Download “India Post Mobile Banking”
- From Google Play Store
- Link is given below to download app
- After Login Select “Requests”
- Fill all details
- Together with the deposit amount, tenure, the account from that you need to deposit the money, nominee, and others and submit.
Read This Also
- Account starting shape
- KYC shape (for brand spanking new consumer/amendment in KYC details))
- PAN Card
- Aadhaar card, if Aadhaar isn’t made to be had, the following file may be submitted.
- riding license
- Voter’s id card
- activity card issued with the aid of MNREGA signed via the country government officer
- Letter issued by using the countrywide population register containing info of call and deal with.
- proof of date of delivery/start certificate in case of a minor account.
Can we Open Post Office Savings Scheme in Mobile?
Yes we can Open Post Office Savings Scheme in Mobile.
How can we download “India Post Mobile Banking”?
You can Download “India Post Mobile Banking” form Google Play Store.