Post office

You can start investing only Rs 1000 in this post office scheme, you’ll get big return after investing Rs 2 lakh 

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The Post Office Time Deposit Scheme is a fantastic investment choice that offers solid returns. You can even open a joint account with family members to maximize benefits. This scheme provides returns comparable to a bank’s fixed deposit, with rates ranging from 6.9% to 7.5%, according to the official post office website.

 

Additionally, investing through the post office is a secure option, with no risk of losing your money. It’s often recommended to have a mix of both safe and riskier investments in your portfolio.

 

What is the Post Office TD Scheme?

 

1. You can build a substantial fund by investing in the Post Office TD scheme, which offers returns between 6.9% and 7.5%, similar to bank fixed deposits.

 

2. Investments can be made for terms ranging from 1 to 5 years.

 

3. You can kick off this scheme with just Rs 1000.

 

4. There’s no upper limit on how much you can invest.

 

Benefits of the Post Office TD Scheme:

1. You can start with a minimum investment of Rs 1000.

 

2. There’s no cap on the maximum investment amount.

 

3. You can choose to invest for a duration of 1 to 5 years.

 

4. It typically offers better returns than many bank fixed deposits.

 

5. Accounts can be opened for children over 10 years old, and investing for 5 years allows for tax benefits under section 80C.

 

Key rules of the scheme:

1. You can invest for a maximum of 5 years, with the option to extend the term if desired.

 

2. Withdrawals are not allowed within the first 6 months. If you close your account after 6 months but before 1 year, you’ll earn interest equivalent to a savings account.

 

3. If you close an account with a term of 2, 3, or 5 years after 1 year, you will receive 2% less interest.

 

If you put Rs 2 lakh into the Post Office TD Scheme, you can expect to earn Rs 29,776 in interest.

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