If you make RDs of Rs 5,000, Rs 10,000, Rs 15,000, and Rs 20,000 in post office, what will be your maturity amount?
Post office RD: Post office runs a lot of small savings scheme. The purpose of these schemes is to encourage those people to save and invest money who can't invest a large amount in one-go. However, in many of these schemes, there is no maximum investment limit. People seeking guaranteed return in these non-market-linked schemes invest their money to get a substantial amount at maturity. The 5-Year Post Office Recurring Deposit Account (RD) is one such post office investment scheme where one can make monthly deposits for five years and can get the maturity amount after that. The RD scheme offers 6.7% interest rate per annum compounded quarterly.
Here's what Rs 5,000, Rs 10,000, Rs 15,000 and Rs 20,000 monthly deposits in the post office RD can give in 5 years.
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