Post office Time Deposit Scheme: If you are considering making a safe investment, this can be the best option. There are many savings schemes and fixed deposits by the post office. Actually, we are going to talk about the Post Office TD Scheme. In this scheme, you get more interest than the bank. The special thing about this scheme is that you can invest in it for 1 year, 2 years, 3 years and 5 years.
Know how much interest is being received?
At present, investing in the bank for 5 years gives up to 6.50 percent interest. On the other hand, if you invest for 5 years in the Post Office TD scheme, then you get 7.5 percent interest. If you make a TD for 1 year to 3 years in this scheme, then you will get 6.90 percent interest. On the other hand, investing for 5 years gives 7.5 percent interest.
You get double the money
Let us tell you that if you regularly invest in the TD scheme, then you get a return at the rate of 7.5 per cent. On the other hand, if you want to get double the money, then you have to invest for about 114 months i.e. 9 years 6 months.
Let us tell you that if you deposit Rs 5 lakh, you get 7.5 percent interest on it. The maturity amount in this scheme is 5 years. In this, the maturity amount is Rs 7 lakh 24 thousand 974. In this, more than 2 lakh rupees are received from interest only.
Who can open an account?
At the same time, anyone can open a single account in this scheme. Apart from this, more than 3 people can open a joint account together. On the other hand, if there is a minor whose age is more than 10 years, then his account can be opened by the guardian.
Benefits of TD scheme
The benefit of the Post Office TD Scheme is a tax benefit under Section 80C of Income Tax. You can also appoint a nominee while opening the account. However, if you prematurely withdraw under this scheme, you must pay a penalty.
