Post Office Time Deposit Scheme: Depositing money in banks and post offices and getting good returns has become essential to people’s lives. Everyone wants to invest where they can get a good return on their deposits. Anyway, this year RBI has reduced the repo rate twice, so banks have also given great relief to their customers.
Interest rates on fixed deposits have also been reduced. In such a situation, if you are looking for a safe fixed deposit and want bumper interest, then the post office scheme can be a golden opportunity. The time deposit scheme of the post office is enough to make you rich, which is enough to give a strong interest.
If you invest Rs 3 lakh in the time deposit scheme for two years, you will get an interest of Rs 44,664. You can see below how you will get interest in the post office scheme.
You will get bumper interest in the post office time deposit scheme
People are getting bumper interest in the post office time deposit. If you invest a time deposit for one year in the post office, you will get 6.9 per cent interest. If you invest in it for 2 years, the interest rate will be fixed at 7.0 per cent. The interest rate for three years has been fixed at 7.1 per cent.
At the same time, if you invest for 5 years, then you will easily get 7.5 per cent interest. In this, after two years, you will get interest of Rs 3,44,664. This amount of interest is enough to make you rich. According to this, you will get Rs 44,664 if we talk about interest.
Know the essential aspects related to the scheme
For information, let us tell you that the post office time deposit scheme is considered a government savings scheme, due to which it is very safe. In this, all the customers get the same interest. Most importantly, the interest rate is the same for senior citizens. You can start investing in the scheme with a minimum of Rs 200.
A time deposit account can be easily transferred from one post office to another. Tax exemption is provided on a 5-year TD under section 80C