Post Office FD: Time Deposit Scheme, i.e. TD is being run by the post office, which works like an FD. However, after the reduction of the repo rate by the RBI, many banks have also reduced the interest rates of FDs. But the interest rate has not been reduced in the Post Office TD scheme. In such a situation, good returns can be obtained by investing in the Post Office Time Deposit Scheme.
The TD scheme of the post office is an excellent scheme, which gives very good returns. You can invest in it for 1, 2, 3 years and 5 years. Let us tell you about this scheme.
Post Office TD Scheme
Investment can be made in the TD scheme of the post office for 1 year, 2 years, 3 years and 5 years. Investing money in it for 5 years gives more interest. In the Post Office TD scheme, 7.5 per cent interest is available for 5 years.
Interest rate in the Post Office TD Scheme
In the Post Office TD Scheme, 6.9 per cent interest is available for 1 year. 7 per cent interest is available for 2 years. 7.per cent interest is available for 3 years. That is, different returns are available for different years in this scheme. You will get a lot of benefits by investing in this scheme.
How much return will you get if you invest 5 lakhs in the TD scheme for 5 years?
If you invest 5 lakh rupees in the Post Office TD scheme for 5 years, then you will get Rs 7,24,974 on maturity. In this, Rs 2,24,974 will be received as interest. On the other hand, if you invest 5 lakh rupees for 3 years, you will get Rs 6,17,538. If you invest money for 2 years, you will get Rs 5,74,441. If you invest for 1 year, you will get Rs 5,35,403.
How much interest is SBI giving on its FD?
If you make an FD in SBI for 7 days to 10 years, then you will get interest at an interest rate of 3.05per centt to 7.05 per cent. SBI is giving 7.05 per cent interest on FDs from 5 years to 10 years, which is for senior citizens.