Earn Rs 3 Lakh with This Post Office Scheme by Investing Rs 70 Daily

Want to turn Rs 70 per day into Rs 3 lakh? The Post Office RD Scheme offers secure and high returns with low investment. Learn how to start, invest, and maximize your savings with this government-backed plan. Read the full guide now!

By Praveen Singh
Published on
Earn Rs 3 Lakh with This Post Office Scheme by Investing Rs 70 Daily
Post Office Scheme

Investing in secure and high-return schemes is a priority for many people looking to build wealth over time. The Post Office Recurring Deposit (RD) Scheme offers an excellent opportunity to accumulate a significant amount by making small, regular investments. By saving just Rs 70 per day, you can grow your money to Rs 3 lakh over a few years.

Post Office Scheme

FeatureDetails
Scheme NamePost Office Recurring Deposit (RD)
Investment AmountRs 70 per day (Rs 2,100 per month)
Total Investment Period5 Years
Interest Rate6.7% per annum (compounded quarterly)
Total InvestmentRs 1,26,000
Total Interest EarnedAround Rs 72,000
Maturity AmountRs 3,00,000
Risk FactorLow (Government-Backed)
Official WebsiteIndia Post

The Post Office Recurring Deposit Scheme is an excellent choice for those looking for a safe, disciplined, and high-return investment option. With just Rs 70 per day, you can accumulate Rs 3 lakh in 5 years, making it ideal for achieving financial stability and long-term savings goals.

If you are looking for a secure investment option with guaranteed returns, opening an RD account with India Post is a smart financial move. Get started today and watch your savings grow effortlessly!

What is the Post Office Recurring Deposit (RD) Scheme?

The Post Office RD Scheme is a government-backed savings plan designed for individuals looking to build their wealth over time. This scheme allows depositors to invest a fixed amount every month and earn guaranteed returns with compound interest.

It is one of the best low-risk investment options, ideal for salaried individuals, students, homemakers, and anyone who wants to save consistently. The best part? You don’t need a lump sum to start – just Rs 70 per day can put you on track to earning Rs 3 lakh in a few years.

see also: HDFC Bank Loan This is how you can get a loan of 50 thousand to 5 lakh rupees

How Does This Investment Plan Work?

Step 1: Open an RD Account

To start investing, you need to open an RD account at any post office. Here’s what you need:

  • Identity Proof (Aadhaar Card, PAN Card, Passport, etc.)
  • Address Proof (Utility Bill, Ration Card, Voter ID, etc.)
  • Recent Passport-Sized Photograph
  • Minimum Deposit of Rs 100 (for account activation)

Step 2: Start Depositing Rs 70 Daily

  • You can deposit Rs 70 per day or Rs 2,100 per month in your RD account.
  • The deposit amount remains fixed for the tenure of 5 years.
  • The interest rate is currently 6.7% per annum, compounded quarterly.

Step 3: Earn Interest Over Time

Since the interest is compounded every three months, your money keeps growing at a faster rate compared to a simple savings account. By the end of 5 years, your total investment of Rs 1,26,000 will grow to approximately Rs 3 lakh.

Step 4: Withdraw Your Maturity Amount

  • After completing the 5-year term, you can withdraw your total amount, including interest earned.
  • If you wish to continue investing, you can extend the tenure for another 5 years.

Why Should You Choose the Post Office RD Scheme?

1. Safe and Secure Investment

The RD scheme is backed by the Government of India, ensuring that your money is protected with zero risk.

2. Fixed and Guaranteed Returns

Unlike market-linked investments, the Post Office RD scheme guarantees returns, so you know exactly how much you will receive at maturity.

3. Affordable for Everyone

You don’t need a large capital to invest. With just Rs 70 per day, you can build a significant financial corpus over time.

4. Flexible Withdrawal and Loan Options

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  • If needed, you can withdraw the amount after 3 years (with a penalty).
  • You can also take a loan against your RD account after 12 months.

5. Suitable for Long-Term Financial Goals

This scheme is perfect for:

  • Students saving for higher education
  • Parents securing their child’s future
  • Young professionals building wealth
  • Retirees looking for a safe investment option

Other Investment Alternatives from India Post

If you are interested in exploring other savings schemes, here are a few more options:

1. Public Provident Fund (PPF)

  • Interest Rate: 7.1% per annum (compounded annually)
  • Tenure: 15 years
  • Tax Benefits: Yes (under Section 80C)

2. National Savings Certificate (NSC)

  • Interest Rate: 7.7% per annum
  • Lock-in Period: 5 years
  • Tax Benefits: Yes (up to Rs 1.5 lakh)

3. Sukanya Samriddhi Yojana (For Girl Child)

  • Interest Rate: 8.2% per annum
  • Minimum Deposit: Rs 250 per year
  • Maturity: When the girl turns 21

see also: If you deposit 2 lakh rupees, you will get this much money in 5 years

Post Office Scheme FAQs

1. Can I deposit more than Rs 70 per day in my Post Office RD?

Yes, you can increase your investment amount, but once fixed, it remains the same for the tenure.

2. Can I open multiple RD accounts?

Yes, you can open multiple RD accounts in your name or for different family members.

3. Is the interest earned in RD taxable?

Yes, interest earned on Post Office RD is taxable as per your income slab.

4. What happens if I miss a deposit?

A small penalty will be charged, but you can deposit the missed amount in the next installment cycle.

5. Can I withdraw my RD before maturity?

Yes, you can withdraw after 3 years, but with a penalty on interest earned.

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