Post Office great RD Plan: By depositing 10 thousand every month, you will get 7.10 lakh rupees – Details Here. Lifestyle News in Hindi | Post Office great RD Plan: 7.10 lakh rupees will be available for depositing 10 thousand every month

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The Finance Ministry has announced changes in interest rates for small savings schemes for the July-September quarter. Under this change, the 5-year Recurring Deposit has been made more attractive. The government increased its interest rates by a whopping 30 basis points. Now instead of 6.2 per cent, interest will be 6.5 per cent on the recurring deposit of the post office. Apart from this, interest rate has also been increased by 10 basis points on time deposits of 1 year, 2 years.

New interest rate effective from 1 July 2023

The new interest rate on Post Office Recurring Deposit is effective from 1 July 2023, which will remain till 30 September 2023. This is a scheme meant for medium term investors. 6.5% interest is available annually, but the calculation is done on the basis of quarterly compounding. Any amount can be deposited with a minimum of Rs.100 and in multiples of Rs.100 thereafter. Let us tell you that apart from the bank, the recurring deposit of the post office is only for 5 years. Later it can be extended again for 5 years. Only old interest rates will be available during extension.

By depositing 10 thousand you will get 7.10 lakh

According to the post office RD calculator, if an investor deposits Rs 10,000 every month, he will get Rs 7,10,000 after five years. His total deposit capital will be Rs 6 lakh and the interest component will be around Rs 1 lakh 10 thousand.

By which date it is necessary to deposit the installment

If you also want to open a recurring deposit account in the post office, then tell that if the account is opened between 1-15th, then it will have to be deposited by 15th of every month. If the account is opened after 15th of a month, then the installment has to be deposited by the end of every month.

Haste of 1 day will cause big loss

Loan facility is also available on depositing 12 installments. The interest rate will be 2 percent more than the RD account interest rate. If the account is closed even 1 day before 5 years, then only the interest of the savings account will be available. Right now the interest rate on savings account is 4 per cent.

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