Post Office Time Deposit Scheme: Investors will earn huge amount of interest by investing in this scheme
Post Office Time Deposit Scheme: Many types of investment schemes are being run for investors in the post office. In which strong interest is also given. One of these schemes is the Post Office Time Deposit Scheme, which is also known as the Post Office FD Scheme.
Investors can invest in the Post Office Time Deposit Scheme for a period of one, two, three or five years. According to the period of investment, interest on investment is received at different rates. By investing in the Post Office scheme, you get the benefit of interest as well as the benefit of tax saving.
Avoid making these mistakes
If you are also investing in the Post Office Time Deposit Scheme and you have chosen a period of five years. Then do not break the FD before that even by mistake. If you do so, you may have to face a big loss.
If you close the FD after one year of starting it, then the money will be returned after deducting 2% interest from the current interest rate on the time deposit.
How much return can be obtained on FD of Rs 5 lakh
If you invest Rs 5 lakh in the Post Office Time Deposit Scheme for a period of 5 years, then you will get interest at the rate of 7.5 percent. In a period of five years, you will get an interest of Rs 2,24,974 on FD of Rs 5 lakh. That is, after five years, on maturity, investors will get a return of Rs 7,24,974.
How much interest is being obtained
Different interest is being given for different periods in Post Office Time Deposit. If you invest in FD with a period of one year, then you will get 6.9 percent annual interest.
For a two-year FD account, you will get 7.0 percent annual interest. Apart from this, for a time deposit of three years, you will get 7.1 percent annual interest.
The good thing is that investment in Post Office Time Deposit can be started with only one thousand rupees. A person can open any number of accounts. The interest rate will be applicable at the time of opening the account and interest will be paid accordingly later also.
