Post Office Scheme: Today we are going to tell you about one such scheme of the post office in this news. In which if you invest 6 lakh rupees for 5 years, then you get interest of more than 2.5 lakh rupees on it… Read the full news to know the complete information related to the scheme.
The government has changed the interest rates for all small savings schemes from April 1, 2023. Interest rates on all savings schemes, except Public Provident Fund (PPF), have been increased by 10-70 basis points. 5 Year Post Office Time Deposit Account is one of the moderate return strategies which is safe, guaranteed and preferred by small investors.
Post Office Time Deposit-
For those who want a guaranteed income and have a low tolerance for risk, the Post Office Time Deposit Account program is one of the best options. With effect from April 1, 2023, the interest rate on post office TD loan with a tenure of five years has been increased by the government from 7 to 7.5 per cent per annum.
Investors can choose to invest in Post Office Time Deposit Account (Investment in Post Office Time Deposit Account) for 1, 2, 3 or 5 years. The Fixed Deposit can be continued for an additional year after maturity. Both single and joint accounts with a maximum of three persons can be covered under the Fixed Deposit Account scheme.
A minimum deposit of Rs.1000 is required to open the account and additional deposits can be made in multiples of Rs.100. Let us tell you that there is no investment limit in Post Office TD.
Post Office Time Deposit Eligibility-
Single adult-
- A guardian can open an account on behalf of a minor or a minor above 10 years of age
- A guardian can open an account on behalf of a person of unsound mind
- Maximum three adults can open a joint account
Post Office Time Deposit Calculator-
If someone invests Rs 6 lakh for 5 years at an interest rate of 7.5%, he will earn Rs 2,69,969 in interest and a total of Rs 8,69,969 when the investment matures.
