Post Office Scheme : The schemes run by the Post Office are considered one of the safest investment options in India since the government itself guarantees the security of your money. Along with safety, these schemes also offer attractive returns. One such popular scheme is the Recurring Deposit (RD) Scheme, which offers decent interest and flexible deposit options. Let’s understand in detail how you can build a corpus of ₹17 lakh by saving just ₹333 per day through this post office plan.
Post Office Scheme : Deposit ₹333 per day and get ₹17 lakh
If you are looking for a safe investment option with guaranteed returns, then the Post Office is one of the best choices. The Post Office offers several small saving schemes for people of all age groups, where the government assures full security and provides attractive interest rates.
One of the most popular among them is the Post Office Recurring Deposit (RD) Scheme. Under this plan, you can start investing with just ₹100, and by saving ₹333 per day (around ₹10,000 per month), you can accumulate a large fund of ₹17 lakh over time. Let’s understand the calculation.
6.7% Interest Rate on Post Office RD Scheme
Under the Post Office Recurring Deposit Scheme, the government currently offers an interest rate of 6.7% per annum. You can open an RD account with just ₹100. Even minors above the age of 10 years can open an account under the supervision of their parents.
When the minor turns 18, they will need to complete a new KYC process and submit a fresh account opening form. The account can be opened through mobile banking or e-banking facilities as well.
Maturity Period : 5 Years
The RD account matures in 5 years, and investors also have the option to extend it for another 5 years. So, you can continue investing for up to 10 years in total.
If you wish to close the account before maturity, premature closure is allowed after 3 years. In case of the investor’s death, the nominee can either claim the funds or continue the account.
Monthly Deposit Rules in Post Office RD Scheme
The Post Office has a specific rule for monthly deposits:
- If the account is opened before the 16th of a month, then the next deposit must be made by the 15th of each following month.
- If the account is opened after the 16th, then deposits should be made between the 16th and the last day of each month.
This ensures regular and timely investment for maximum returns.
How Saving ₹333 per Day Can Grow into ₹17 Lakh
Now, let’s understand the calculation behind how daily savings of ₹333 can lead to a total of ₹17 lakh.
If you save ₹333 every day, your monthly investment will be around ₹10,000.
With an interest rate of 6.7%, if you continue this for 5 years, your total investment will be ₹6 lakh, and you will earn interest of ₹1.13 lakh, making your total ₹7.13 lakh.
If you extend the RD for another 5 years (total 10 years of investment), your total deposits will be ₹12 lakh, and the interest earned will increase to ₹5,08,546.
So, after 10 years, your total maturity amount will be approximately ₹17,08,546.
Example of Lower Investment
If you wish to invest a smaller amount, say ₹5,000 per month instead of ₹10,000, and continue for 10 years, you will get ₹8,54,272, including ₹2,54,272 as interest earnings.
Conclusion
The Post Office Recurring Deposit Scheme is an excellent choice for those who want safe and steady returns with government-backed assurance. By saving a small amount daily — as little as ₹333 — you can build a substantial fund of ₹17 lakh over 10 years.
It’s a perfect investment for salaried individuals, small business owners, and families looking for a disciplined way to grow their savings with complete security.
