Everyone wants to make money, but many people struggle to find safe and secure savings options. If you’re also looking for a safe and profitable way to save, then this report is for you. The Post Office Fixed Deposit (Post Office FD) could be the best option for you.
You’ll be surprised to learn that the Post Office is offering an interest rate of 6.9% to 7.5%, which is quite attractive compared to other schemes. Especially the 12-month Time Deposit (Post Office Time Deposit Scheme), which has now become a goldmine for investors. Let’s explore the details of this scheme.
Post Office 12-Month TD Interest Rate
The Post Office is offering an interest rate of 6.9% for a 12-month Time Deposit (TD). However, different interest rates apply for 1-year, 2-year, 3-year, and 5-year fixed deposits. The longer the tenure, the higher the interest rate. The best part is that the Post Office Fixed Deposit scheme is directly managed by the government, making it a completely safe investment option.
How much return will you get if you invest Rs 2 lakh?
If you invest Rs 2 lakh in the Post Office 12-month Time Deposit, you will receive a total of Rs 2,14,161 at maturity. At an interest rate of 6.9%, the total interest earned will be Rs 14,161. This shows that the scheme offers a good amount of interest.
Why is Post Office FD the best option?
The Post Office FD is approved by the Government of India, so it is risk-free compared to the stock market or other investment options. For those seeking low-risk investments, this can be an ideal choice. Additionally, investing in a 5-year TD qualifies for tax deduction under Section 80c.
If you want safe and stable returns for your future, visit any nearby post office and invest in this scheme to secure your future.