Post Office FD Scheme : Hello friends, with the help of today’s post, we want to tell you that Post Office FD Scheme has been started by the post office. This scheme will not only keep your savings safe but will also provide excellent returns i.e. interest rate.
Post Office Fixed Deposit Scheme can be a very good option for all of you if you want to keep your money safe and want to get high returns. This scheme is supported by the government due to which the invested money will be 100% safe, so let’s know the complete details of the scheme in detail.
What is the Post Office FD Scheme?
We are going to discuss in detail about the Post Office Fixed Deposit Scheme. Its other name is Time Deposit Scheme. You can invest a free amount in this scheme for 1 year or 2 years or 3 years or 5 years. In this, the interest is compounded every 3 months.
And on maturity the amount is given to you in one go. This scheme is very beneficial for small investments because one can start it by investing at least ₹1000.
How much interest do you get for 5 years?
The biggest feature of Post Office Fixed Deposit that you should know is that an interest rate of 7.5% per annum is provided under the scheme for a tenure of 5 years.
This interest rate is provided with government guarantee and is also reviewed by the government at regular intervals. This interest rate is quite high as compared to other banks.
What is the return on an FD of ₹2 lakh?
We are going to give you information about the return on a fixed deposit of ₹ 2 lakh. The return you will get will be at the rate of 7.5% interest, it is as follows:-
- Total investment in the scheme:- ₹2 lakh
- Total interest received on this is :- ₹ 89,900.
- Amount on Maturity :- ₹2,89,990
Tax and other benefits
- If you invest in Post Office Fixed Deposit for a period of 5 years, you can also avail the benefit of exemption under Section 80C of the Income Tax Act.
- Let us tell you that the scheme can be opened in both single as well as joint accounts.
- Besides this, you can also do all the transfers to any post office if you wish.
how can i apply
For Post Office FD, you can go to your nearest post office and fill the form or you can also invest online through Indian Post Payment Bank mobile application,
For this, important documents like Aadhar Card, PAN Card and Post Office Savings Account will be required.
