Post office is ahead of banks in offering many schemes to its customers. More people are investing in post office schemes as compared to banks.
Post office is ahead of banks in offering many schemes to its customers. More people are investing in post office schemes as compared to banks. But if you invest in the scheme mentioned here.. you can get more returns in less time.
The name of the scheme is Post Office Time Deposit. Investing in this scheme can earn good returns. Investors can get a chance to earn lakhs of rupees on their investments. Let’s know about Post Office Time Deposit Scheme in detail.
In Post Office Time Deposit Scheme interest.. Investors will get 7.5 percent interest rate in this scheme. Investors can invest in it with different tenures. Investors get an opportunity to invest money with tenure of 1 year, 2 years, 3 years, 4 years, 5 years.
If you invest in Post Office Time Deposit Scheme (time deposit scheme eligible) for 1 year, you will get interest up to 6.9 percent. However.. an investment with a tenure of 2 or 3 years gives the benefit of 7 percent interest rate. An investment for a tenure of 5 years will yield an interest rate benefit of 7.5 percent.
For example.. you can invest in time deposit scheme for 5 years minimum Rs. If you invest 5 lakhs.. you will get interest at the rate of 7.5 percent.
If you calculate this, you can pay Rs. 5 lakh on Rs. 2,24,974 will earn interest. On Maturity you get after 5 years a sum of Rs. 7,24,974 can be obtained. This way you can earn lakhs of rupees by investing in time deposit scheme of post office.