Post of scheme :The government keeps introducing some schemes for all sections, so that poor to middle class families can take advantage of it. Talking about one such scheme, it is offered by the post office. In this scheme, any citizen can invest for 5 years, in which investors are given strong interest. Along with this, tax exemption (Income duty Benefits) can also be availed. Let us know the complete details of this scheme.
This government scheme is Post Office Time Deposit (Post Office TD), which operates under Small Savings Scheme. The special thing about this scheme is that you can invest a lump sum amount in it, in which interest keeps getting added from time to time. This scheme is also called Post Office FD. Four types of periods are given under time deposit.
How much interest on which period
Under the Post Office Time Deposit, 6.9% interest is given for a period of 1 year.
7.0% interest is given for a period of 2 years.
7.1% interest is given for a period of 3 years.
The post office offers a time deposit scheme for 5 years, under which the interest is 7.5%.
Under Post Office TD, 3 people can open an account singly or jointly. In this scheme, a minimum investment of Rs 1000 can be made in multiples of 100. There is no limit on the maximum amount. Under this scheme, a rebate of Rs 1.5 lakh is given annually under Section 80C of Income Tax for a period of five years. Under this scheme, you cannot withdraw money before six months.
You will earn 4.5 lakhs from interest only
If you save Rs 2,778 every day under this scheme and invest at least Rs 10 lakh as lump sum after one year, you will get Rs 4.5 lakh from interest only in 5 years. The total amount in five years will be Rs.
