FD Scheme: Everyone is afraid of whether their invested money will be safe or not. To remove this concern of the people, the post office runs many schemes. Today we are going to talk about a special scheme in which you can get good returns by investing.
5 Year FD Scheme.
Yes, we are talking about the Post Office FD Scheme. This is also known as Time Deposit Scheme. Although you can open an FD account in any bank, but by investing in the post office (5 Year FD Scheme), you are going to get a higher interest rate than the bank.
Know what is FD scheme.
In this scheme of the post office, your money is absolutely safe and the return is also good. If you invest money for 5 years, then you can get good returns. Currently, 7.5 percent interest rate is being given on 5-year investment on fixed deposit (5 Year FD Scheme). Along with this, you also get tax benefits under Income Tax Act 80C.
This much return will be available on FD of 1 lakh.
All citizens of India can invest in this post office scheme. There is no maximum investment limit in this. If you invest 1 lakh rupees for 5 years, then according to the interest rate of 7.5 percent, you will get ₹ 44,995 as interest. In such a situation, you will get a total of ₹ 1,44,995 on maturity.
This much return will be available on FD of 2 lakh.
To open an FD account in the post office, you have to go to the nearest post office. If you invest 2 lakh rupees for 5 years, then according to the interest rate of 7.5 percent, you will get a total return of Rs 2,89,990 (5 Year FD Scheme). Out of which 89,990 rupees will be earned only from interest.
You will get this much return on FD of 3 lakhs.
Similarly, if you invest 3 lakh rupees in this fixed deposit scheme, then at the rate of 7.5 percent interest, you will get a total of ₹4,34,984. Out of this amount, 1,34,984 rupees will be received only from interest.
You will not have to pay any tax on interest.
Along with all this, you also get another benefit of investing money in this 5 Year FD Scheme that you will not have to pay any kind of tax under Section 80C of Income Tax Act, 1961.
