Post Office Scheme: In this scheme of Post Office, you will get interest of Rs 41,478 on investment of Rs 1 lakh...
Post office time deposit scheme: Most people want that when they invest, their money never gets lost. Also, the return on their investment should also be good. In such a situation, people choose the most traditional method, fixed deposit. These days, the interest in FD is also very high. Be it a bank or post office, return on investment is good everywhere.
If you also want to invest in fixed deposits, then Time Deposit Scheme (Post Office TD Account) is a great option. Deposit Rs 1 lakh in lump sum and forget about it for 5 years. Not only will you get strong returns on maturity, but you can also claim tax exemption under Section 80C under the Income Tax Act on 5-year time deposits.
You get guaranteed returns-
There is a time deposit scheme for fixed deposits in the post office. In this, the option of investment from 1 year to 5 years is open. Just like you get fixed returns in FD in banks, you can earn guaranteed returns in the time deposit scheme of the post office. It is also called the National Savings Time Deposit Account in the post office. At present, a guaranteed return of 7% is available.
How much money will you get by investing Rs 1 lakh?
At present, 7% interest is being given on investment in 5 5-year time deposit of Post Office. If you invest Rs 1 lakh together in this scheme, you will get a total of Rs 1,41,478 on maturity. In this, Rs 41,478 will be earned only from interest.
Who can take advantage?
Any Indian citizen can invest in a time deposit account in the post office. In this, single account, or joint account (3 people together), parents or guardians can open the account on behalf of the minor. If the minor is above 10 years of age, then he can open an account under this scheme in his own name.
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