Are you too going to invest Rs. 5000 per month, but unsure whether to engage in a government program or a systematic investment plan (SIP)? If so, there is absolutely no need for you to take any tension. You should know that the post office’s RD or SIP… Where can investing money pay off for you?
How much attention is now being shown on RD?
Let us inform you that current post office RD interest rates are 6.5 percent, which is beneficial to investors. like investing in programs like recurring deposits (RD) and fixed deposits (FD), as these offer assured returns. In addition, the rate of interest for SIP is variable.
In five years, an investment of three lakhs will be made
If you complete a 5000 rupee RD at the post office, you will receive approximately 60,000 rupees in one year and 3 lakh rupees in five years. You would profit from interest at a rate of 6.5 percent on this, earning Rs 54,957 in addition to your initial investment. Investors will receive Rs 3,54,957 at maturity.
What kind of advantage will be offered by SIP?
In addition, if you choose SIP over post office RD, your total investment will be 3 lakhs, but you will receive returns based on the share market. The rate of return on SIP is typically observed to be around 12%. On a sum of three lakh rupees, you will receive Rs 1,12,432 in interest if you receive an average rate of 12%.
SIP involves risk; but, after five years, you would receive Rs. 4,12,432. Tell them that the return on their SIP investment is not fixed and is always rising and falling. It may potentially range from 14 to 18 percent, depending on the market’s returns. So, based on this, SIP is the better alternative than RD, although there is risk involved.
What advantages does RD offer?
Let us inform you that RD or SIP is the ideal solution for you if you wish to make a small investment each month rather than an FD. Both of these systems require you to contribute a set sum each month. When the RD has reached its full maturity, you receive the deposit amount and the interest amount returned. You can utilize these funds wherever you like.
Read more: PM Vishwakarma Yojana: Modi govt will introduce a new scheme next month & these persons will get benefits
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