Post Office has left all banks behind in terms of giving huge profits on savings accounts. After RBI reduced the repo rate, all banks have reduced the interest rates on FD. But, the Post Office has not reduced the interest rates of its schemes.
Here we will tell you about such a scheme of the Post Office, in which if you deposit ₹ 5 lakh, then on maturity you will get a direct return of ₹ 2.25 lakh. The special thing is that you will get this return with a ‘guarantee’ and there will be no ‘if-but’ in it! This is a great opportunity to secure your future.
How much interest is being received right now in the post office
Like the FD of banks, the Post Office runs a TD (Time Deposit – TD) account! In a Post Office TD account, like an FD, a fixed amount is received on maturity, which includes a guaranteed return. The Post Office is offering interest ranging from 6.9 percent to 7.5 percent on time deposit accounts.
1-year TD: 6.90 percent interest is being offered.
2-year TD: 7.0 percent interest is being given.
3-year TD: 7.1 percent interest is being given.
5-year TD: 7.5 percent interest is being given.
This is a significant difference compared to banks, especially when you want guaranteed returns.
How many years will it take to get a return of ₹2.25 lakh
7.5 percent interest is being given on 5 5-year TD in the Post Office! If you deposit ₹5 lacks in a 5-year TD scheme of Post Office, on maturity, you will get a total of ₹7,24,974 with a guarantee. This amount also includes a fixed return of ₹2,24,974.
All customers get the same return at the Post Office. Whereas in banks, senior citizens get higher returns than ordinary citizens. Let us tell you that the Post Office works under the control of the central government. Therefore, your money is completely safe in it. This is a great way to grow your money.
