The name of this scheme is Post Office Time Deposit Scheme. In this scheme, in which a small amount of money is invested for some time, one gets bumper returns. Bumper profits can also be made by investing in this scheme.
India Post Office offers many such savings schemes, which give very high returns. Today we are going to tell you about a similar scheme, which would have been like a type of FD. For which different interest rates are also available for different tenures. The name of this scheme is Post Office Time Deposit Scheme. In this scheme, in which a small amount of money is invested for some time, one gets bumper returns. Bumper profits can also be made by investing in this scheme. The interest rate of this savings is fixed separately for different tenures.
Customers can invest in this scheme for a minimum period of one year. At the same time, the maximum investment period is 5 years. To take advantage of this scheme, the investor can open an account with a minimum deposit of Rs 1000. After that you can invest the desired amount. In this scheme, investors can invest only in multiples of 100. There is no maximum limit to invest in it.
The investor can invest in this scheme for 1, 2, 3 and 5 years. Investing for one year gives a return of 5.5%. At the same time, 6% return on investment for 5 years is given by the post office. A return of 5.7 percent is given on 2 years investment and 5.8 percent on 3 years investment. If you are also planning to save through the post office scheme, then this scheme can become the best option for you. Talking about the interest, interest is given every year under this scheme, which is counted on a quarterly basis. Not only this, the benefit of income tax exemption can also be availed under this scheme.
