In the post office, bumper interest of 6.9 percent is being given on 1 year FD, 7.0 percent on 2 year FD, 7.1 percent on 3 year FD and 7.5 percent on 5 year FD.
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Post Office Saving Schemes: The Indian Postal Department provides not only postal services but also banking services. Accounts can be opened at the post office under various savings schemes such as RD, TD, MIS, SCSS, PPF, SSA, and KVP. The Post Office’s TD scheme offers higher interest rates than bank FDs. It’s worth noting that FD accounts at the post office are opened under the name TD, or Time Deposit Scheme. Today, we’re going to tell you about a scheme in which you can earn a whopping ₹44,995 in interest by depositing just ₹1 lakh.
Post Office FDs offer 6.9% to 7.5% interest.
FDs can be opened at the post office for 1-year, 2-year, 3-year, and 5-year periods. The post office offers a bumper interest rate of 6.9 percent on 1-year FD, 7.0 percent on 2-year FD, 7.1 percent on 3-year FD and 7.5 percent on 5-year FD. No other bank in the country is offering such interest. The minimum deposit amount in the post office FD scheme is Rs 1000, while there is no maximum deposit limit. Apart from single account, joint accounts can also be opened in the post office FD scheme. A maximum of 3 people can be included in a joint account.
A ₹1,00,000 deposit will earn a fixed interest of ₹44,995.
The Post Office offers its customers a maximum interest rate of 7.5 percent on 5-year FD schemes. If you deposit ₹1 lakh in a 5-year (60-month) FD scheme, you will receive a total of ₹1,44,995 at maturity, including ₹44,995 in fixed interest. It should be noted that the Post Office operates directly under the Central Government, providing a fixed interest rate upon maturity with a government guarantee. Note that all customers receive the same interest rate under Post Office FD schemes, while senior citizens receive 0.50 percent higher interest on select FD schemes with banks.
Disclaimer: This article is for informational purposes only. Please consult your financial advisor before making any investment or taking any financial risk. informalnewz will not be responsible for any such risks.
