Post Office – If you also want to invest in fixed deposits, then time deposit scheme is a great option. Let us tell you that you can deposit Rs 1 lakh in lump sum and forget it for 5 years and get huge returns on maturity… Read the full news to know the complete details related to this scheme.
Post office time deposit scheme: Most people want to invest so that 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 on FD is also very high. Be it 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, 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, similarly you can earn guaranteed returns in time deposit scheme of post office also. It is also called 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 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, joint account (3 people together), parents or guardian can open the account on behalf of the minor. If the minor is more than 10 years of age, then he can open an account under this scheme in his own name also.
