FD in post office is known as TD i.e. Time Deposit. Post office TD is just like FD, where you get a fixed return after a fixed period of time.
Post Office FD Scheme: The Reserve Bank of India (RBI) has cut the repo rate by a total of 0.50 percent this year. This cut has been done twice. RBI first cut the repo rate by 0.25 percent in February, and then in April also it was cut by 0.25 percent. After which now the repo rate has come down from 6.50 percent to 6.00 percent. After the RBI reduced the repo rate, all the banks also cut the interest rates of FD. However, the post office is still giving bumper interest to its customers as before. Today we will know here that if you deposit Rs 2 lakh in a 2-year FD in the post office in the name of your wife, then how much money will you get on maturity.
7.00 percent interest is being given on 2-year TD
FD in the post office is known as TD i.e. Time Deposit. Post Office TD is just like FD, where you get a fixed return after a fixed period. The post office is giving its customers interest ranging from 6.9 percent to 7.5 percent on TD (Time Deposit) accounts. The post office is giving 6.90 percent interest on 1 year TD, 7.0 percent on 2 year TD, 7.1 percent on 3 year TD and 7.5 percent on 5 year TD. Let us tell you that the post office gives equal interest to all its customers, no matter who they are.
If you deposit Rs 2,00,000, you will get a fixed interest of Rs 29,776
If you invest Rs 2 lakh in a 2-year TD scheme in the post office in your wife’s name, then on maturity, a total of Rs 2,29,776 will come in your wife’s account. Apart from the Rs 2,00,000 deposited by you, this also includes a guaranteed fixed interest of Rs 29,776. The post office works under the central government and the government has direct control over its functioning. This is the reason that every rupee deposited by you in the post office is completely safe.
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