Post Office Scheme: It’s essential to incorporate both secured and unsecured investment platforms into your portfolio. For a reliable investment option, consider the post office scheme, which offers a variety of plans. By participating in this scheme, you can build a substantial fund. Today, we will discuss a specific scheme that allows you to double your investment. If you choose the post office time deposit scheme, your money can double in just a few years, offering returns of up to 7.5%. You can invest for a duration ranging from 1 to 5 years in this scheme.

 

How long will it take for your investment to double?

 

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

 

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

 

Thus, by investing in this scheme, you can effectively double your money in 10 years.

 

Before investing, it’s crucial to be aware of some important rules related to the scheme to avoid any future issues.

 

Benefits of the TD Scheme:

– You can start this scheme with a minimum investment of Rs 1000.

– There is no upper limit on the investment amount.

– It offers better returns compared to many bank fixed deposits.

– Accounts can be opened for children over 10 years of age.

– Investing for 5 years allows you to benefit from tax exemptions under section 80C.

– The scheme also permits joint accounts.

 

Understand these key guidelines before you invest

 

Investors are not permitted to withdraw funds within the first six months. However, if you do withdraw after this period, the interest earned will be equivalent to that of a savings account.

 

You can invest in this scheme for a duration ranging from 1 to 5 years, and there is an option to extend the investment period if desired.

 

Additionally, if you decide to close an account with a term of 2, 3, or 5 years after just one year, you will receive 2 percent less interest.

Desclaimer: For any financial invest anywhere on your own responsibility, Times Bull will not be responsible for it.