The time deposit (TD) scheme of the post office is just like the fixed deposit (FD) scheme of the bank. A TD account can be opened in the post office for a minimum period of 1 year and a maximum period of 5 years. The post office is giving its customers an interest rate of 6.9 percent to 7.5 percent on TD accounts.
Post Office Scheme: All the banks serving in the country are running various types of savings and investment schemes for their customers. Banks are offering great interest to their customers on different schemes. However, in terms of giving huge interest to the customers, the post office is giving tough competition to all the banks. Let us tell you that the post office works under the Government of India. Therefore, your money invested in any scheme of the post office is completely safe. Today we are going to tell you about one such scheme of the post office, in which great interest is being given.
Post Office TD account can be opened with just Rs 1000
The Post Office Time Deposit (TD) scheme is just like the bank’s Fixed Deposit (FD) scheme. TD account can be opened in the post office for a minimum of 1 year and a maximum of 5 years. The post office is offering interest ranging from 6.9 percent to 7.5 percent on TD accounts to its customers. Let us tell you that TD can be done for 1 year, 2 years, 3 years and 5 years in the post office. You can open a TD account in the post office TD with a minimum of Rs 1000, while there is no maximum deposit limit in it.
Deposit ₹2,00,000 and get fixed interest of ₹29,776
The post office is offering 7.0 percent interest on 2-year TD. If you deposit Rs 2 lakh in a 2-year TD scheme, then on maturity you will get a total of Rs 2,29,776, which includes interest of Rs 29,776. Let us tell you that in the post office TD scheme, customers get fixed and guaranteed interest and there is no risk in it. Anyone can open an account in the post office TD scheme. In this, along with a single account, a joint account can also be opened. Names of 3 people can be added in a joint account.
