Post Office Millionaire Scheme By Deposit only 100 Rupees : Become a Millionaire By Applying Only 100 Rupees in This Scheme of Post Office, How to start Post Office is always the best option to save money … Now you can make a big fund by saving just Rs 100 every month. In the post office’s recording deposit (RD) scheme, you can deposit big money by depositing only 100 rupees. Customers get good interest on this scheme from the post office. With this, your money will be safe in it. Meaning there is no risk in your return. Let us tell you how you can make a fund larger than 100 rupees.
Post Office RD
Post Office Recurring Deposit is the best option for small savings. By investing through it, you can fulfill your dream easily. RD account is opened in post office for at least five years. Whereas banks provide the facility of opening RD account for six months, one year, two years, three years etc.
more than one can open RD account
Let us tell you that the other feature of RD account is that you can also open more than one RD account. You can also open an account in the name of a small child. In RD scheme of post office, you can deposit any amount in the coefficient of at least Rs 10 / month to its 5. That is, you can open the account of the number you can divide by 5. You
with 100 rupees, you can invest in it with minimum 100 rupees. In RD scheme you can invest in multiple of 100. That is, the number you can divide by 5, you can open your account with that amount. There is no maximum investment limit in this scheme.
How much interest will be earned
According to India Post’s website, interest is currently being paid at 5.8 percent on RD scheme. These interest rates are implemented on 1 April 2020. You can take interest on this scheme on quarterly basis. At the end of every quarter, a compound interest is given to your account.
Failure to pay installments on time incurs penalty
If you do not deposit the fixed amount in RD account within the stipulated time, you will have to pay a penalty. If you do not deposit four consecutive installments, your account will be closed. However, even after the account is closed, it can be started again for the next two months.
Who can open an account
>> Anyone can open as many RD accounts as his name.
>> There is also no restriction on the maximum number of accounts.
>> Two adult persons can also open a joint RD account together.
>> An already opened personal RD account can be converted into a joint account at any time