Post Office: The Indian Post Office Fixed Deposit Scheme (Post Office FD Scheme) represents a secure and dependable investment avenue. This scheme is particularly advantageous for individuals seeking to safeguard their funds while earning a consistent interest income. By investing a minimum of ₹ 2 lakh, one can enjoy substantial monthly returns.
Safety with appealing interest rates
Operated by the government, the Post Office FD Scheme not only ensures safety but also offers appealing interest rates on investments. Investors can choose from tenures of 1, 2, 3, or 5 years, with the added benefit of income tax exemption for 5-year fixed deposits. This scheme is entirely devoid of risk, making it ideal for those wishing to enhance their investments without exposure to uncertainty.
How to invest in Post Office scheme
To initiate your investment, visit the nearest post office. The procedure for opening an FD account is straightforward and user-friendly. Required documentation includes identity proof such as an Aadhar card, PAN card, or voter ID, address verification through a ration card, electricity bill, or passport, along with a passport-sized photograph, salary slip or income tax return, and the nominee’s name and identification. Complete the application form to establish an FD account and deposit a minimum of ₹ 1,000 for your selected tenure.
An FD certificate will be issued as evidence of your deposit. This scheme guarantees safety and is entirely risk-free, with tax benefits applicable to 5-year fixed deposits and the option for monthly interest payments over a 5-year period.
Return rates according to durations on Rs 2 lakh investment
- 1 Year Tenure : Interest Rate 6.9%, Total Amount ₹2,13,800.
- 2 Year Tenure : Interest Rate 7.0%, Total Amount ₹2,29,400.
- 3 Year Tenure : Interest Rate 7.0%, Total Amount ₹2,45,900.
- 5 Year Tenure : Interest Rate 7.5%, Total Amount ₹2,86,100.
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