Post Office Scheme: You can easily double by investing money in this post office scheme. For this, you have to deposit money only once for 10 years.
Post Office Time Deposit Scheme: If you like to invest in post office, then you can easily double by investing money in post’s fixed deposit scheme. For this, you have to deposit money only once for 10 years. There are many investment options available in today’s time, but still most people prefer to invest in those places from where they can get guaranteed returns. FD is one of those instruments. On FD ( Fixed Deposit ) you get a fixed return for a fixed period. You get FD facility at both bank and post office. This is called post office time deposit.
If you are also thinking about getting FD in the post office in the new year 2023, then there is good news for you because from January 1, the post office has increased the interest rates of FD. In such a situation, you can get a lot of profit there. Know about the new interest rates of post office FD. Know in how many days your money will double according to the new interest rates.
These are the new interest rates of post office
- At present, you are getting 6.6% interest on 1-year time deposit, which was earlier 5.5%.
- 6.8% interest is being received on two-year time deposits, which was earlier 5.7%.
- You will get 6.9% interest on three-year time deposit, which was earlier 5.8%.
- Interest is being received at the rate of 7% on 5-year time deposit, which was earlier 6.7%.
Do the calculation like this
- Earlier 5.5 percent interest was being received on 1-year FD of post office, due to which your investment of 1 lakh was becoming 1,05,614, which will now be Rs 1,06,765 at 6.6 percent.
- Earlier, 5.7 percent interest was being received on the 2-year FD of the post office, due to which your investment of 1 lakh was becoming 1,11,985, which will now be Rs 1,14,437 at 6.8 percent.
- Earlier, 5.8 percent interest was being received on the 3-year FD of the post office, due to which your investment of 1 lakh was becoming 1,18,857, which will now be Rs 1,22,781 at 6.9 percent.
- Earlier, 6.7 percent interest was being received on the 5-year FD of the post office, due to which your investment of 1 lakh was becoming 1,39,407, which will now be Rs 1,41,478 at 7 percent.
In how many days money will double
If you take a 5-year fixed deposit plan in the post office, then you can earn a lot of profit and double your amount in 10 years. Calculate according to post office time deposit, then if you deposit Rs 1 lakh for 5 years, then you will get Rs 41,478 as interest on FD at 7% and the total amount will be Rs 1,41,478. But if you let it continue for 5 more years, then in 10 years you will get Rs 1,00,160 as interest. In this way your amount will be Rs 2,00,160. That means in 10 years your money will more than double.
