Investing money in Fixed Deposit (FD) is an extremely popular way among investors. The money invested in FD is safe and the return on it is also fixed. This is the reason why most people consider FD as their first preference for investment. All the banks of the country provide FD facilities to their customers. Along with this, the post office also provides FD of different periods to its customers, in which returns are given at different interest rates.
So, if you also want to grow your savings with secure and fixed returns, then post office FD can be an excellent option. Today we are going to tell you such a special formula for investing in Post Office FD, by adopting which if you invest in Post Office FD, you can increase your invested amount up to three times. So let’s know about this powerful formula! This can be a golden opportunity to increase your investment.
Invest smart in Post Office FD and get great returns
The post office offers its customers a return of 7.5 percent interest rate on FD of 5 years duration. To triple your invested amount, you have to increase this FD 2 more times. This is a long-term investment strategy that can give you good profit.
₹ 2 lakhs can become ₹ 6 lakhs
If you invest ₹ 2 lakhs in a 5-year FD of the post office, you will get a total of ₹ 2,89,990 on maturity. Now you have to extend this FD once again for the next 5 years. Now you will get a total of ₹ 4,20,470 on maturity. Now you have to extend this FD once again for the next 5 years. Now you will get a total of ₹ 6,09,370 on maturity. In this way, you can convert your investment of ₹ 2 lakhs into a total amount of up to ₹ 6 lakhs. However, for this, you will have to give 15 years. This is an excellent example of the power of compounding, which makes your money grow slowly but surely. This is an attractive option for investors who are looking for safe and long-term investments.