Post Office Scheme: Scheme giving tremendous returns, you will get 30 lakh rupees on maturity, know the calculation
The post office operates numerous schemes, including the Post Office Scheme Time Deposit. This scheme offers substantial earning potential. Along with the post office scheme, great returns are also received. In such a situation, most people still prefer to invest in the post office scheme.
If you are thinking of investing in such a scheme of the post office, then you will get a lot of money in it, along with you will get a strong profit in a short time. We will discuss one such scheme in detail.
Actually we are talking about the Post Office TD Scheme, investing in this scheme can get a strong benefit. If you want to invest in the Post Office’s TD scheme, you can easily open an account by going to the nearest post office.
How much interest is being received
For your information, the Post Office TD scheme offers interest at a rate of 7.5 percent. Let us tell you that the Post Office TD scheme can start with just 1 thousand rupees. At the same time, you can invest as per your wish.
Invest 5 lakh rupees in Post Office TD.
If you invest in the Post Office TD scheme for a period of 5 years, you will receive 7.5 percent interest during this period. After 10 years, you will receive 5 lakh 51 thousand 175 rupees, with 5 lakh rupees coming solely from interest. At maturity, you will receive a total of 10 lakh 51 thousand 175 rupees.
How much return will you get on investing 10 lakh rupees
If you buy a 5-year FD, then you can invest in this scheme. At the same time, let us tell you that you can extend this scheme before its maturity. In this, you can take extension 2 times continuously. You can invest in this FD scheme for up to 15 years.
If you invest Rs 10 lakh in Post Office FD, then after 5 years you will be able to get 7.5 percent interest. Your investment will amount to Rs 4 lakh 49 thousand 948. This means you will receive a total of Rs 14 lakh 49 thousand 948.
Many benefits are available
If you invest in Post Office TD scheme for 5 years, then you will also get tax benefit under Section 80C of Income Tax. In addition, once you invest in this Post Office scheme, you have the option to withdraw the invested amount before the 6-month mark. We can extend the maturity date of this scheme further. You can accomplish this task six months prior to the scheme’s maturity date.