Post Office Scheme: Everyone allocates a little portion remaining after earnings, not counting expenses, for future use. Once they invest money, they begin by seeking a secure place for it. Subsequently, they put money into different plans. When it comes to investing, the most crucial aspects are safety and assured returns. For a secure investment, you might consider a Post Office FD. If you put a specific sum into the Post Office for five years, you will obtain 14,49,948. How can this happen? Here are all the details regarding this.
What is the interest rate provided by the post office and for how many years?
6.9% annual interest rate.
7% interest over a period of two years.
7% interest over a period of three years.
5 years at a 7.5% interest rate.
This interest is computed every three months.
What interest is earned from an FD of Rs 10 lakh?
Here’s a guide on investing Rs 10 lakh in post office fixed deposits and the potential profit you could earn over one to five years.
The interest rate for one year is 6.9%. In other words, after one year, your 10 lakh rupees will grow to 10 lakh 69 thousand rupees. You will earn a profit of Rs 69,000 within a year.
The interest rate over a period of two years is 7 percent. This indicates that after two years, your 10 lakh rupees will grow to 11 lakh 49 thousand rupees. In one year, you will earn a profit of Rs 1 lakh 49 thousand.
The interest rate for three years is likewise 7 percent. In three years, your funds will amount to Rs 12 lakh 25 thousand. This indicates that you will earn a profit of Rs 2 lakh 25 thousand on 10 lakhs.
If you invest in an FD for five years, it will yield 7.5% interest. Your Rs 1 million. You will receive a benefit of Rs 4,49,948 on an investment of Rs 10 lakh.
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