Post Office Scheme: The money will be doubled in this post office scheme, know more details
By Lokmat English Desk | Published: January 28, 2022 05:42 PM2022-01-28T17:42:46+5:302022-01-28T17:42:46+5:30
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Investing in a post office is considered safe. The interest rates offered here are higher than in banks.
If you are thinking of investing money somewhere and want to get a safe return then this news is definitely for you. Today we are going to tell you about one such post office scheme in which you will get good returns.
Post Office Time Deposit Scheme (TD Account). The special thing is that in this scheme you will get higher interest than the bank. This scheme is also called Post Office FD. Let's see about this plan
You can deposit money in this plan for 1 year, 2 years, 3 years, and 5 years. Of this, a 5.5 percent interest rate is currently available on 1-year FD accounts. Apart from this, a 5.5 percent interest rate is also available on 2 years FDs and 3 years FDs.
Post Office is offering 6.7 percent interest on 5-year tax saving FD. Interest is paid on an annual basis but is calculated on a quarterly basis.
The amount invested in a time deposit account for a period of 5 years at the post office is eligible for benefits under Section 80C of the Income-tax Act, 1961.
That is, if a person opens a 5-year term deposit with a deposit of Rs 1 lakh, after 5 years at an annual interest rate of 6.7 percent, he/she will get Rs 1,39,407.
If you invest money in the scheme then you get an interest rate of 6.7 percent, it will take you about 10.74 years or 129 months to double your money.
Anyone can open an account with this scheme. Apart from this 3 adults can also open a time deposit joint account. At the same time, parents can open an account in the name of a child over 10 years of age.