Post Office's great scheme; Build a fund of ₹17 lakh by investing just this much money..

Post Office: We all invest in a post office for safe investment. Because our money is safe here. Along with this, the return on investment is also safe. That is why most people invest in the post office. The post office runs many types of savings schemes. Your fund can be increased by investing in these schemes. Today, we will tell you about a fund or scheme in which you can invest a minimum of Rs 100. Through this investment, you can create a fund of lakhs of rupees in a few years.

The scheme we are talking about is called Recurring Deposit (Post Office Recurring Deposit). We will tell you how you can create a fund of up to Rs 17 lakh by investing in the RD of the post office.

How to create a fund of Rs 17 lakh?

Post Office gives a fixed return of 6.7 percent on a recurring deposit. You can also invest a minimum of Rs 100 in this scheme. But to raise a fund of 17 lakhs, you will have to invest Rs 333 daily. That is, you can say about Rs 10,000 per month. If you invest Rs 10,000 per month, then you can easily create a fund of 17 lakhs in a few years.

The period in the post office RD is 5 years. That is, if you invest, you will have to wait at least 5 years. But if needed, you can withdraw money even after 3 years.

On the other hand, if we talk about calculation, if you invest Rs 10,000 every month, then in 5 years this investment will become Rs 6 lakh. It will get 6.7 percent interest, which will be Rs 1.13 lakh. If you extend it for 5 years, then the amount invested will become 12 lakhs, and the interest received on it will be Rs 5,08,546. That is, the entire fund is of 17 lakhs.

Funds are prepared without any risk.

Funds are prepared without any risk in the post office. Your money is completely safe here. In such a situation, it is a better investment than other places. However, you should invest here also with your discretion and must take advice from your financial advisor.

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