Post Office Saving Scheme: Post Office is running many savings schemes for investment. Through these schemes, investors can take advantage of high interest. If you also want to get high returns from the post office scheme, then you should invest in the Post Office Time Deposit Scheme. Let’s know about this scheme in detail.
Along with Bank FD, Post Office Saving Scheme is also very popular for investment. By investing in the Post Office Saving Scheme, you can get more returns along with savings. Although there are many savings schemes of the post office, but among these the Post Office Time Deposit Scheme is quite popular.
By investing in this scheme, you can also take advantage of high interest rates. Actually, the government is giving strong interest in this scheme. We will tell you about this scheme.
About Post Office Time Deposit Scheme
Anyone can invest in this scheme of post office. That is, there is no age limit for investment in this scheme. Along with high interest, it also provides the benefit of tax benefit. The government is currently giving 7.5 percent interest in this scheme. This scheme matures in a maximum of five years. If we talk about returns, then it gives more returns than other post office schemes.
Also Read- FD Interest Rate: These banks are giving up to 9% interest on FD, check FD details here
Interest rate of post office time deposit scheme
The interest rate of different tenures on the post office time deposit scheme is different.
- 6.9 percent interest is being given on 1 year tenure.
- 7 percent interest is being given on 2 to 3 year deposit scheme.
- 7.5 percent interest rate is being given on investment for 5 years.
Lakhs will be earned from interest
If you calculate the interest rate of post office time deposit, then interest of up to lakhs of rupees can be obtained in it. Understand it like this, if you invest Rs 5 lakh for five years, you will get a total of Rs 7,24,974 after maturity. Out of this, Rs 2,24,974 will be interest.
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