You can earn handsome profits by investing in the post office time deposit scheme. It gets 6.7 percent interest. Also money can be doubled.
Post Office Scheme: You can earn handsome profits by investing in post office schemes. There are many such schemes, in which investment gives very good returns. One of these is Time Deposit, which is one of the FD schemes of the post office. In this, along with a hefty amount, there is also a guarantee of security. It becomes a good option for long time. In which there is the benefit of more than double returns.
The benefit of compound interest is available under this scheme. You can get Fixed Deposits for different tenures. If you want, you can extend the period even further. This scheme invests for one, three and five years. Attractive rate of interest is available under the scheme. If you get FD done for one year, then you get 5.50 percent interest on it. Interest is available at 5.70 per cent on two-year deposits, 5.80 per cent on 3-year deposits and 6.70 per cent on five-year deposits.
This is the calculation
If you invest up to 8 lakh rupees for 5 years, then you get an amount of 11 lakh 15 thousand 254 rupees. In which Rs 3 lakh 15 thousand 254 is available only as interest. By extending the duration of the scheme for 5 years, you get an amount of more than Rs 15 lakh 54 thousand. In which there is an interest of more than Rs 7.5 lakh. This amount can increase up to Rs 21, 67, 409 if the duration of the scheme is extended for 15 years.
