-Post Office Time Deposit Scheme: Post Office Scheme is the best option for secure investment.
There are many types of post office small savings scheme, where you get good return on investment.
-Post office’s time deposit is also a great scheme. In this scheme you get more interest than SBI (State Bank of India).
-In this scheme you can invest from one year to 5 years.
new Delhi.
Post Office Time Deposit Scheme: Post Office Scheme is the best option for secure investment. There are several types of post office small savings scheme, where you get good return on investment. Time deposit of post office is also a great scheme. In this scheme you will also get from SBI (State Bank of India) Higher interest is paid. In this scheme you can invest for one year to 5 years. Your money will also be 100% safe in the post office scheme, so you can invest without risk.
Also Read: If there is any problem related to EPF Account, then file a complaint here, this is the process
You will get more from SBI in post office time deposits than SBI Interest Rates . While SBI is getting 5.7% interest annually on 5-year FD, post office time deposits will get 6.7% annual interest on 5-year deposits. Post office time deposit accounts can be opened for five years.
Advantages of
post office time deposit There are many advantages in post office time deposit. If you get FD for one to three years, you will get 5.5% interest, while if you invest for 5 years, then you get interest at 6.7%. These are the new rates of interest which came into force in April 2020.
Money will double in 10 years,
interest will be given at 6.7% in post office time deposit, in such a situation your money will double after 10.74 years. Whereas, SBI will double the money in 12.63 years with an interest of 5.7% per annum. In this scheme, any single person can open their account. Apart from this, joint accounts can also be opened. At the same time, parents account can be opened in the name of children above 10 years of age.
