New Delhi: The government runs several schemes that are widely used by a large number of people. We will introduce you to one such scheme, which ensures safe investment and future returns. You must have heard of the Post Office Fixed Deposit Scheme. This scheme can help investors become wealthy.
Investments here yield good returns. You can also include an elderly member of your family in this scheme. You can easily accumulate a substantial amount of money here. FDs at the Post Office are known as TDs (Time Deposits). Investing in time deposits can fulfil your dream of becoming wealthy.
Join the Post Office Scheme
Considered one of the country’s responsible institutions, the Post Office Time Deposit Scheme requires a tenure of 1 to 5 years. Like bank fixed deposits, TDs provide guaranteed fixed income for a specific period. A 1-year TD at the Post Office earns 6.9% interest.
A 2-year TD earns 7% interest, and a 3-year TD earns 7.1% interest. They also offer the option to join a 5-year TD scheme. The minimum deposit amount in a Post Office TD account is ₹1,000. There is no maximum limit. You can find out the full calculation for the return on a ₹1 lakh deposit.
How much will you earn on a ₹1 lakh deposit?
Post Office TD schemes offer the same returns to customers, regardless of whether they are men, women, or senior citizens. The Post Office TD scheme offers the same interest rate for everyone.
An individual investing ₹100,000 in a 2-year TD at the Post Office in their wife’s name will receive ₹114,888 upon maturity. The investor will receive only ₹14,888 in interest.
Government schemes have become a boon.
For your information, the Central Government is running several excellent schemes to empower people financially. From children to the elderly, everyone is joining these schemes and earning significant returns. You too can make a fortune by joining government schemes.