The Reserve Bank of India (RBI) has cut the repo rate by a total of 1.00 percent this year. This cut has been made three times – in February, April, and then in June. After the cut in the repo rate, all the banks in the country have also cut the interest rates of Fixed Deposit (FD), due to which investors are getting less returns. However, the Post Office has not reduced the interest rates of its savings schemes. Here we are going to tell you about such a great scheme of the post office, in which if you deposit ₹ 2 lakh, you will get a fixed interest of ₹ 29,776 directly.
Post Office Time Deposit Scheme
The post office runs a savings scheme for its customers called TD i.e. Time Deposit. This scheme is exactly like the FD scheme of banks, in which investors get fixed interest on the amount deposited for a fixed time. Its biggest feature is that your money is 100% safe because it works under the direct control of the Central Government.
Currently, interest rates of 6.9 percent to 7.5 percent are being offered on the TD scheme of the post office. These rates are often more favourable than current bank fixed deposit (FD) rates, especially when the repo rate is lowered.
1 year TD:- 6.90 percent interest
2-year TD:- 7.0 percent interest
3-year TD:- 7.1 percent interest
5-year TD:- 7.5 percent interest
Guaranteed return of ₹29,776 on investment of ₹2 lakh

Currently, 7.0 percent interest is being given on the 2-year TD of the post office. If you deposit ₹2,00,000 (Rs 2 lakh) in the 2-year TD plan of the post office, on maturity you will get a total of ₹2,29,776 with a guarantee. This amount also includes a fixed return of ₹29,776, which is the interest received on your initial deposit.
All customers get the same return in the post office, whether they are senior citizens or general citizens. Whereas in banks, senior citizens often get higher returns than general citizens. It is also worth noting that the post office works completely under the control of the central government. Therefore, your money is completely safe in it, which gives peace of mind to investors.