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VERIFIEDMint Money·neutral
Post office savings: Can ₹10 lakh FD and ₹10,000 RD create ₹1 crore in 20 yrs? Check how inflation impacts returns
AI Summary
- ·A ₹10 lakh post office FD at 7.5% and a ₹10,000 monthly RD at 6.7% can grow to nearly ₹1 crore in 20 years.
- ·Compounding is the mechanism driving this growth over the two-decade period.
- ·Inflation is noted as a factor that could diminish the real value of the returns.