Fixed Deposit: If you invest Rs 10 lakh in the time deposit scheme of the post office. So the post office will give you an interest of Rs 3.8 lakh.
Post Office Fixed Deposit : If you invest in post office, then you also get interest of lakhs of rupees.interest) can be achieved. For this you have to apply for Post Office’s Time Deposit Scheme (Time Deposit Scheme) will have to invest Rs.10 lakh. In this scheme, the post office will give you an interest of 3.8 lakhs. The government has increased the interest rates for the December quarter by up to 30 basis points on the post office’s time deposit scheme ie FD. This change has been made on 2 year and 3 year time deposit scheme.
Explain that amid the repo rate hike, the government has taken this step to ensure that investors get better returns on their deposits. However, the rates on 5 years and 1 year time deposits remain the same as before. At present, investors who do not want to take market risk at all and are looking for stable returns while keeping their deposits safe, then the post office time deposit scheme can be a better option.
1 year to 5 years option
1 Year FD: 5.5% Annual Interest 2 Year FD: 5.7% Annual Interest 3 Year FD: 5.58% Annual Interest 5 Year FD: 6.7% Annual Interest
So much profit in 5 years
Deposit: Rs 10 lakh Tenure: 5 years Interest: 6.7% Maturity Amount: Rs 13,83,000 Interest lost: Rs 3,83,000
These are the benefits of the scheme
It has the facility to open single and joint accounts. There can be 3 adults in a joint account. The special thing about this scheme is that an investor can open multiple accounts. On depositing at least Rs 1000, an account can be opened in any post office. There is no limit on the maximum deposit. In this scheme, the benefit of tax exemption is available on the investment made for 5 years. Keeping the account as security, you can also take a loan instead. There is no risk due to being a government deposit. Account can be transferred from one post office to another post office.
Safer than bank FD
It is a safer investment than bank FDs, as it provides government guarantee on the investor’s capital and the interest earned. Whereas, in bank FD, you get protection only up to a maximum amount of Rs 5 lakh on capital and interest as per the rules of Deposit Insurance and Credit Guarantee Corporation (DICGC).
English News Headline : Fixed deposit 3.8 lakh interest will be available in post office scheme.
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