Post Office Superhit Scheme: Many schemes of the post office offer great returns for investors, especially for those who want to invest for a long time. One of the major schemes among these is the Post Office Time Deposit, which offers an attractive interest of 7.5% on investment for a period of 5 years.
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Post Office Superhit Scheme: Many schemes of the post office offer great returns for investors, especially for those who want to invest for a long time. One of the major schemes among these is the Post Office Time Deposit, which offers an attractive interest of 7.5% on investment for a period of 5 years. Any citizen can avail the benefits of this scheme of the government, and the special thing is that investors also get a tax exemption of up to ₹ 1.5 lakh under section 80C of Income Tax. This scheme is also known as Post Office Fixed Deposit, where interest keeps getting credited from time to time.
Benefits of Post Office Time Deposit Scheme
Minimum investment: Investments can be made starting from ₹1000 in multiples of ₹100. There is no maximum investment limit.
Interest Rate: Interest rate is 6.9% for 1 year, 7.0% for 2 years, 7.1% for 3 years, and 7.5% for 5 years.
Joint Account: Three people can open a joint account together under this scheme.
Tax exemption: Benefit of tax exemption up to ₹1.5 lakh annually under a period of 5 years.
Investment benefits
If you save ₹2,778 every day and make a lump sum investment of ₹10 lakh after a year, then under this scheme, in 5 years you will earn ₹4,49,948 only from interest. At the end of this period, your total amount will be ₹ 14,49,948.
Why is this scheme attractive?
The Post Office Time Deposit Scheme is a safe and profitable option for those who want guaranteed returns on their investment. Its high interest rate and tax exemption benefits make it an attractive option. Through this scheme, you can not only keep your money safe but also earn a good amount of interest in five years, which can significantly increase your total investment amount.
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