New Delhi. Even today, when it comes to investing, most people recommend Fixed Deposit ie FD. FD is considered to be a better option in terms of investment, which gives guaranteed returns. In this, more returns are available than the Savings Account. However, during the Corona crisis, the rates of bank FD have come down drastically and in this situation getting FD done in the post office can be a better option for investors.
According to experts, the interest rates available on bank FDs these days are not enough to beat the inflation rate and hence investors willing to get FDs can consider post office schemes for higher interest, because 1 year, 2 The interest rate on Post Office FDs for one year and three-year tenure is 5.5%, which is close to the average annual rate of inflation.
In a report by Livemint, tax and investment expert Jitendra Solanki says, “Due to the Corona crisis, there was a fall in the rates of bank FDs. At the same time, post office FD rates range from 5.5 percent to 6.7 percent.
Interest Rate on Post Office FD
According to the India Post website, FDs of 1 year, 2 years and 3 years earn an interest of 5.5 per cent per annum. On the other hand, FDs with a tenure of 5 years get 6.7 percent interest annually. However, investors should keep in mind that the post office pays interest on its FDs on an annual basis, but calculates it on a quarterly basis. A minimum FD of Rs 1,000 can be made in the post office. There is no maximum investment limit.
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at businessleaguein@gmail.com
