If you are also planning to invest in Post Office RD then there is good news for you. In the festive season, the government has increased the interest rate on 5-year Recurring Deposit (RD) of the post office. These new rates will be applicable from tomorrow 1st October
Post Office RD Interest Rate:
If you are also planning to invest in Post Office RD, then there is good news for you. In the festive season, the government has increased the interest rate on 5-year Recurring Deposit (RD) of the post office. These new rates will be applicable from tomorrow 1st October. Till now you were getting interest at the rate of 6.5 percent on 5 year RD, but from October 1, you will get interest at the rate of 6.7 percent. The government has increased it by 20 basis points i.e. 0.20 percent. Now let us tell you that if you come every
investing Rs 2,000 in RD
If you are going to start an RD of Rs 2,000 per month for 5 years, you will invest Rs 24,000 in one year and Rs 1,20,000 in 5 years. In such a situation, according to the new interest rate i.e. 6.7 percent, Rs 22,732 will be received as interest. After 5 years, your investment amount including principal and interest will be Rs 1,42,732.
If you invest Rs 3,000 in RD every month, you will invest Rs 36,000 in a year. Your total investment in 5 years
Will be Rs 1,80,000. post office rd calculator
According to the new interest rates, you will get Rs 34,097 as interest. You will get a total of Rs 2,14,097 on maturity.
investing Rs 5,000 in RD
In an RD of Rs 5,000 every month, you will invest Rs 60,000 in one year and a total of Rs 3,00,000 in five years. You will get Rs 56,830 as interest at the rate of 6.7 percent after 5 years. You will get Rs 3,56,830 on maturity.
Bumper interest will be available on these schemes
In the December quarter, customers will get 4 percent on Post Office Savings Deposit Scheme, 6.90 percent on 1 year Post Office Time Deposit Scheme, 7 percent on 2 year and 3 year Post Office Time Deposit Scheme and 7.50 percent on 5 year Time Deposit Scheme. Interest will continue to be received. On the other hand, interest will be 7.70 percent under National Savings Certificate Scheme and 8 percent under Sukanya Samriddhi Account Scheme.