Post Office Schemes: The Post Office Time Deposit Account can be a good option for your investment ( Best Investment Plan) Post Office Time Deposit Plan.
-Because, in this scheme you will get more returns than fixed deposit (FD Scheme)
-Partner you will also guarantee the safety of money.
New Delhi.
Post Office Schemes: Post Office Time Deposit Account may be a good option for you if you are also planning a Best Investment Plan. Because, in this scheme you will get more returns than fixed deposit (FD Scheme), the partner will also guarantee you the security of money. The bank is cutting fd’s interest rates, so post office plans can get you better returns. Let us know about the post Office’s time deposit scheme.
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How much interest will be paid
Post Office time deposits have many benefits. If you make a FD for one to three years, you will get 5.5 per cent interest, but if you invest for 5 years, you get an interest rate of 6.7 per cent. These are the new rates of interest which have come into effect in April 2020. If you get an interest rate of 6.7 per cent in post office time deposits, your money will double after 10.74 years. Sbi will double the money in 12.63 years in terms of 5.7 per cent annual interest.
Who can open the account
Any single person can open his account in this scheme. In addition, joint accounts can also be opened. In the name of children over 10 years of age, parents can open accounts. It cannot be closed before 6 months.
The best part is that on a 5-year investment, you can take advantage of tax exemption under section 80 C of the Income Tax Act, 1961. A minimum of Rs. 1000 is to be deposited for opening a Post Office FD account. There is no ceiling. You can avail this scheme in any branch of the post office. You can also easily transfer one account to another.
