Post Office Saving Schemes: The repo rate was recently cut by the Reserve Bank of India (RBI). After which many banks also cut the interest rates of FD. However, the post office i.e. the post office has not yet cut the interest rates of its savings schemes. In such a situation, the interest rates of the post office have become even more attracted than the banks.
Scheme of the post office
You will tell you about one such scheme of the post office, in which you will get a fixed interest of Rs 2,24,974. Like FD accounts opened in banks, TD accounts (time deposits) are opened in the post office. TD accounts of 1 year, 2 years, 3 years and 5 years are opened in the post office.
Post office is paying?
The post office is paying 6.9 percent at 1 year TD, 7.0 percent on TD of 1 year, 7.1 percent on TD of 3 years and 7.5 percent on 5 years TD. If you deposit Rs 5 lakh in a 5 -year TD in the post office, then you will get a total of Rs 7,24,974 on maturity.
fixed interest with a guarantee
This amount includes Rs 2,24,974 of interest in addition to Rs 5,00,000 for your investment. In the TD scheme of the post office, customers get absolutely fixed interest with a guarantee. At least 1000 rupees can be deposited in TD account, while there is no limit of maximum deposit.
Money deposited in the post office
Your money deposited in the post office is completely safe. The post office is a government machinery, which the center operates. Before investment, consult your financial advisor.