Post Office Scheme: Calculate Your Maturity Amount For Post Office RD Of ₹2000, ₹3000, And ₹5000

If you're looking for a safe investment option with small, regular savings, the Post Office Recurring Deposit (RD) is an excellent choice. Unlike bank RDs with varying tenures, the Post Office RD has a fixed tenure of 5 years. This allows you to accumulate significant savings by depositing a fixed amount every month over the period. Currently, the Post Office RD offers an interest rate of 6.7%. Here’s a detailed calculation of the maturity amounts for monthly deposits of ₹2000, ₹3000, and ₹5000.

Investing ₹5000 Per Month

For a monthly deposit of ₹5000, your total investment over 5 years will be ₹3,00,000. With the current interest rate of 6.7%, you will earn ₹56,830 as interest. Thus, the total maturity amount will be ₹3,56,830.

Investing ₹3000 Per Month

If you choose to deposit ₹3000 every month, your annual investment will be ₹36,000, and over 5 years, it will total ₹1,80,000. According to the Post Office RD Calculator, you will earn ₹34,097 as interest. Therefore, the maturity amount will be ₹2,14,097.

Investing ₹2000 Per Month

A monthly deposit of ₹2000 will result in a yearly investment of ₹24,000 and a total of ₹1,20,000 over 5 years. With the current interest rate of 6.7%, you will earn ₹22,732 as interest. The total maturity amount will thus be ₹1,42,732.

Quarterly Interest Rate Review

The Finance Ministry reviews the interest rates on small savings schemes every three months. On October 1, 2023, the government raised the Post Office RD interest rate from 6.5% to 6.7%. This rate has remained unchanged since then. Importantly, the interest rate at the time of starting your RD is locked in for the entire 5-year period, ensuring your investment is not affected by subsequent rate changes.

By understanding these details, you can make informed decisions about your investments and take advantage of the stable and secure savings opportunities offered by the Post Office RD scheme.