It is possible to join this project at a very low cost. With just Rs 100, you can start Post Office Recurring Deposit Scheme. This scheme can help you maximize your income while minimizing your expenses. The main advantage of this scheme is that those who join it can withdraw their money anytime. But the project will take ten years to reach maturity. The rate of interest in this periodic plan is quite good. The post office will pay interest at the rate of 5.8 percent per annum in this scheme.
But to get Rs 16 lakh you need to deposit Rs 10,000 every month. If you keep Rs 10,000 every month for a decade, you will have Rs 12 lakh. 16,26,476 at the maturity of the scheme at an annual interest rate of 5.8 per cent. If you withdraw before 5-years, the rate of return will be much lower.
A special advantage in this scheme is that your account will be closed if you do not pay the EMI for four months. Some price will be charged as penalty for resuming. From then on before making any further investment you need to provide more documents which will be provided by the post office.
Contact your nearest Post Office branch now to know more about this matter and earn your income by joining this great profitable scheme.