With the help of Post Office RD, you can easily create a big fund. You can use it like a piggy bank. If you keep depositing a fixed amount every month, then after maturity of 5 years you will have a huge amount in your hands. First of all understand what is RD? Post Office RD can help you in big savings. You keep putting a fixed amount in it every month and when it matures after 5 years, you will have a huge amount in your hand. In this, interest is also available on interest. The interest received on Post Office RD is calculated every three months. The interest received on this is compounded, that is, interest is also added on the interest, due to which the returns become even better. On investing Rs 1,000 every month for 5 years, a fund of Rs 71,000 will be created. If you invest Rs 1,000 per month in Post Office RD, then it will become around Rs 71,000 when it matures after 5 years at 6.7% annual interest rate. You can take loan against the money deposited in RD. Loan facility is also available against RD. This means that if you need money in between, you can take a loan against it without breaking the RD. If you deposit 12 consecutive installments in post office RD, then you can take a loan. That means, to avail this facility, you will have to deposit the amount continuously for at least one year. After one year, you can take a loan up to 50% of the amount deposited in your account. If you take a loan against RD, the interest on the loan amount will be 2% + interest rate applicable on RD account. Just like currently 6.7% interest is being given on RD, in such a situation, if you take interest on RD now then you will get loan at the interest rate of 8.7% per annum. 4 benefits of RD: Any person can open an account. Any person can open an RD account. This account can also be opened in the name of small children. You can operate it yourself if you are 10 years old or older. 3 people can also open a joint account. You can open an account in this through any post office.
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Millionaire will invest ₹ 2000 every month in RD: Post Office is giving 6.7% interest on it, know important things related to it
