Post Office Saving Scheme: In addition to Bank FD, the Post Office Saving Scheme is also very well-liked for investing. Investing in the Post Office Saving Scheme allows you to achieve greater returns while saving. While there are numerous saving schemes available at the Post Office, the Post Office Time Deposit Scheme stands out as particularly popular.
By participating in this program, you can also take advantage of the elevated interest rate. In fact, the government is showing significant interest in this program. We will inform you about this plan.
This post office scheme is open to anyone for investment. In other words, there is no age restriction for participating in this program. In addition to high interest, it also offers tax advantages. The government is presently offering an interest rate of 7.5 percent in this program. This plan reaches maturity in no more than five years. When discussing returns, it provides better returns compared to other post office schemes.
Rs 5 lakh for 5 years
Calculating the interest rate on a post office time deposit can yield you interest amounting to lakhs of rupees. Think of it this way: if you put in Rs 5 lakh for five years, your total amount after maturity will be Rs 7,24,974. Of this amount, Rs 2,24,974 will be attributed to interest.
The interest rates for the Post Office Time Deposit Scheme vary based on the duration of the deposit:
An interest rate of 6.9 percent is offered for a one-year term.
A 7 percent interest rate is offered on the 2 to 3 year deposit scheme.
An investment is offering an interest rate of 7.5 percent for a duration of 5 years.
Disclaimer : For any financial invest anywhere on your own responsibility, Times Bull will not be responsible for it.