Post Office FD: Post office is considered a safe platform for investment. There is no risk of money sinking in it. Post office offers many types of schemes to investors. Today we are going to talk about a scheme in which you can double your money by investing. Let’s see its complete calculation.
Always include both safe and unsecured investment platforms in your portfolio. Post office scheme option will be right for a safe investment. Many types of schemes are offered through post office. By investing in this scheme, you can create a big fund.
Today we are going to talk about a scheme in which your money can be doubled by investing. If you invest in the time deposit scheme of post office, then your money will double in a few years. It gives up to 7.5 percent return. The option of investing for 1 year to 5 years is given in the time deposit scheme of post office. After how many years of investment will the money double?
If you invest in the post office scheme for 10 years, then your money will double in 10 years at the rate of 7.5% return. Keep in mind that the interest received in the scheme is calculated every four months.
Calculation- For example, if you invest Rs 5 lakh in the post office TD scheme for 10 years, then you get Rs 10,51,175 after 10 years at the rate of 7.5% return.
In this way, you will be able to double the money in 10 years by investing in this scheme.
There are some important rules related to the scheme, it is very important to know about them before investing. So that there is no problem in future.
Benefits of TD scheme
- This scheme can be started with an amount of Rs 1000.
- There is no maximum amount to invest in it.
- It gives better returns than FDs of many banks.
- An account of a child above 10 years of age can be opened under the scheme.
- Investing for 5 years gives the benefit of tax exemption under section 80C.
- The benefit of joint account is also available in the scheme.
Know these important rules before investing
- No investor can withdraw money before 6 months. On the other hand, if the money is withdrawn after 6 months, then he is given the same interest as the savings account.
- Money can be invested in this scheme for 1 to 5 years. If you want, you can also extend the period of the scheme.
- Along with this, if you close an account with a period of 2, 3 or 5 years after 1 year, then you get 2 percent less interest.
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