Post Office Scheme: If you want to make your future financially secure, then you have to start investing from today itself. Nowadays people are looking for different investment options to invest their money in a safe and profitable place.
Post Office Scheme: There are many investment options available in India, but most people prefer bank FD, because in this the capital remains safe and a fixed interest rate is received.
However, if you want, you can get higher returns by investing in some other schemes apart from bank FD. The special thing is that in these schemes not only do you get more interest, but your capital is also completely safe.
What is Post Office Time Deposit Scheme
Post Office Time Deposit Scheme is an excellent investment scheme run by the Indian Postal Department. In this, investors can deposit money for 1 year to 5 years and avail a fixed interest rate.
The specialty of this scheme is that it is backed by the government, so that your deposit remains completely safe.
Interest rates and returns
Talking about interest rates, interest rates have been fixed in such a way that they keep changing from time to time.
Investing for 1 year gives an interest rate of 6.9% per annum.
For a period of 2 to 3 years, this interest rate is 7%.
A maximum of 7.5% interest is available on a 5-year investment, which is more beneficial than bank FD.
How to get the benefit of Rs 2 lakh in 5 years?
If you invest Rs 5 lakh in this scheme for 5 years, then at an annual interest rate of 7.5%, your total amount will be Rs 7,24,974. In this, you will get an additional interest of Rs 2,24,974.
The biggest thing is that this amount can also be tax free under Section 80C of the Income Tax Act 1961, which increases your savings further.
Why choose Post Office Time Deposit Scheme
Completely safe investment: This scheme is backed by the government, which ensures that the investors’ money is completely safe.
Higher returns than bank FD: More interest is received than bank FD in a period of 5 years.
Tax benefits: Investment under this scheme is tax exempted under Section 80C.
Flexible investment options: Investment can be made for a period of 1, 2, 3 or 5 years.
If you also want to grow your money without any risk and secure your future, then Post Office Time Deposit Scheme can prove to be a great option for you.
