You should always include both secured and unsecured investment platforms in your portfolio. For a secure investment, the post office scheme is a good option. The post office offers various types of schemes, which can help you build a large fund over time.

Today, we will talk about a scheme where your money can double with investment. If you invest in the post office time deposit scheme, your money will double in a few years. It offers up to a 7.5 percent return. The post office time deposit scheme provides investment options ranging from 1 year to 5 years.

How Many Years Will It Take to Double Your Money?

If you invest in the post office scheme for 10 years, your money will double at a 7.5% return rate. Keep in mind that the interest is calculated every four months.

Example Calculation:

For instance, if you invest Rs 5 lakh in the Post Office TD scheme for 10 years, you will receive Rs 10,51,175 after 10 years at a 7.5% return rate.

In this way, by investing in this scheme, you can double your money in 10 years.

Benefits of the Post Office Time Deposit Scheme:

  • The scheme can be started with a minimum of Rs 1,000.
  • There is no maximum limit for investment.
  • It offers better returns than many bank FDs.
  • A child above 10 years of age can open an account under this scheme.
  • Investments for 5 years qualify for tax exemption under Section 80C.
  • Joint accounts are allowed in this scheme.

Important Rules to Know Before Investing:

  1. No withdrawals can be made within the first 6 months. After 6 months, the interest rate will be the same as that of a savings account.
  2. The scheme allows investments for 1 to 5 years. You can also extend the investment period.
  3. If you close an account after 1 year but within 2, 3, or 5 years, you will receive 2% less interest.