In almost every middle class (Saving Option for Middle Class) house in India, you will definitely get to see 'Gullak'. There can be no better way to make small savings than this. Today we are going to tell you that about one such piggy bank ie savings scheme of the post office where you will be able to deposit Rs 16 lakh on maturity by saving just Rs 333 per day.
Put money in Post Office Scheme: Post Office Small Saving Schemes have become a big support for the common man in the long term. One such scheme is the Post Office Recurring Deposit Account ie RD. At present, you are getting a compound interest of 5.8% in this scheme and you will be able to start saving in this scheme with a small amount like Rs 100 a month.
This is how you will get 16 lakhs on maturity: In the post office scheme, if you deposit Rs 333 per day i.e. about Rs 10,000 per month, then your total savings in 1 year is going to be Rs 1.20 lakh. After running this account for 10 years, your total deposit amount will be Rs 12 lakh. On this, in 10 years, you are going to get a total interest of Rs 4,26,476, in this way you will get an amount of more than Rs 16 lakh on maturity. The maturity period of RD is 5 years. But you will also be able to extend it further for the next 5 years.
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