If you are planning to invest, then it is not necessary that you invest a huge amount at one go. There are many schemes where you can invest a small amount or as per your capacity. What matters is how regular you are in this matter.
In today’s time, there are many such schemes, where even if you invest a small amount monthly, you can get guaranteed returns in a few years. One such scheme is Recurring Deposit (RD). RD has been trusted by the people for a long time. In this you can start investing from 100 rupees also.
The amount with which you start the RD, you have to invest the same amount every month till it matures. For RD, you can open account bank or post office anywhere. You can open RD account in banks for one year, two years or for any time according to you, but Post Office Recurring Deposit Account opens for 5 years. At present, interest is being received at the rate of 5.8 per cent on post office RD. Let us tell you that if you start a monthly RD with an amount of Rs 1000, 2000, 3000 or 5000, then how much amount you will get on maturity.
On investment of Rs 1000
According to RD Calculator, if you invest Rs 1000 in Post Office RD every month, then you will invest a total of Rs 12,000 in a year and in 5 years you will invest Rs 60,000. In this case, in 5 years, you will get a total of Rs 9,694 as interest according to 5.8 and on maturity you will have a total of Rs 69,694.
On investment of Rs 2000
On the other hand, if you invest Rs 2000 every month in Post Office RD, then you will have to spend Rs 24,000 in a year. In this way you will invest Rs 1,20,000 in 5 years. In 5 years, you will get a total of Rs 19,395 as return. Accordingly, you can add Rs 1,39,395 till maturity.
On investment of Rs.3000
On the other hand, if you invest Rs 3000 every month in RD for 5 consecutive years, then you will invest Rs 36,000 in one year and in 5 years you will invest a total of Rs 1,80,000. You will get Rs 29,089 as interest on your total investment and you will get Rs 2,09,089 on maturity.
On investment of Rs 5000
Similarly, if you invest Rs 5000 every month, then you will invest Rs 60,000 in a year and in 5 years you will invest a total of Rs 3,00,000 in RD. According to the annual interest of 5.8 percent, you will get a total of Rs 48,480 as interest and you will get a total of Rs 3,48,480 on maturity. In this way, even by investing a small amount, you can raise a substantial amount for yourself in 5 years.