Did you know that recurring deposits can be a good investment option for retirement?
Many banks have deposit rates ranging from 8-9.5%
If one invests
17k per month in an RD giving 8.5% - in 20 years the person would have a crore
50k per month in an RD giving 8.5% - in 10 years the person would have close to a crore
Use the crorepati calculator at
http://wealth.moneycontrol.com/jtcrorepati.php
for the same.
This is a safe investment option and obviously one needs to check on tax on the same.
Just one of the options if people want to consider.
What do you think?
Edited 30th March 2015:
Added another article on generating a monthly pension using RDs
Many banks have deposit rates ranging from 8-9.5%
If one invests
17k per month in an RD giving 8.5% - in 20 years the person would have a crore
50k per month in an RD giving 8.5% - in 10 years the person would have close to a crore
Use the crorepati calculator at
http://wealth.moneycontrol.com/jtcrorepati.php
for the same.
This is a safe investment option and obviously one needs to check on tax on the same.
Just one of the options if people want to consider.
What do you think?
Edited 30th March 2015:
Added another article on generating a monthly pension using RDs
Hi Manoj -- Refer new article on generating monthly pension using RDs
ReplyDeletehttp://mymoneyrules.blogspot.com/2015/03/recurring-deposit-to-generate-monthly.html
I commented on the other article but am unsure where that comment went - Lalit
ReplyDelete