Post Office Zero Risk Scheme: The Post Office Time Deposit Scheme offers investment options for different tenures, and the government offers better interest rates than FDs for a lump sum investment of five years.
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Post Office Saving Schemes have become quite popular for their safe investments and excellent returns. If you want to save some of your income and earn good returns, you can invest in them. Post Office savings schemes include various schemes for children, women, youth, and the elderly, with the government guaranteeing the safety of your investments. This includes the Post Office Time Deposit Scheme, where you can earn over ₹2 lakh in interest alone.
The Government Offers Strong Interest
Regarding the interest rate on the Post Office Time Deposit Scheme, the government offers different interest rates for different tenures. This government scheme offers 6.9% interest on one-year investments, 7% on two-year investments, 7.1% on three-year investments, and 7.5% on lump-sum investments made for five years. This means that the investor can get amazing returns by choosing the investment period as per his convenience.
This is how you can earn 2 lakh rupees.
The excellent interest rate consistently places this Post Office scheme among the most popular government schemes. The calculation of how you can earn 2 lakh rupees by investing in this PO Time Deposit Scheme is quite simple. You simply need to choose a tenure of 5 years and invest 5 lakh rupees.
During this period, the interest earned on your investment at a rate of 7.5% will be Rs 2,24,974, and upon maturity, you will receive Rs 7,24,974 directly instead of Rs 5 lakh. This means that this scheme will earn lakhs of rupees from the interest alone.
Risk-Free Investment, Tax Benefits Too
The Post Office Time Deposit Scheme is a ‘zero-risk’ policy and is directly supported by the Government of India. Significantly, customers can also avail tax benefits under Section 80C of the Income Tax Act, 1961, on a five-year investment.
An account can be opened with a minimum investment of Rs 1,000, while there is no maximum investment limit. The scheme also offers the option of opening a single or joint account. A child above 10 years of age can be opened through their family member under the Post Office Time Deposit Scheme. Interest on the investment is compounded annually. In this, you can easily open an account by going to your nearest post office.
