Post Office 2 Lack FD: At present, many investment schemes are being run by the Central Government for the citizens of the country, people are getting tremendous benefits by investing in these government schemes, the most important thing for the lower and middle class people is the invested amount. Security, in such a situation, these government schemes guarantee 100% security and returns on investment,
So in this article we will tell you about a better plan, for this read the entire article, in which important information has been shared with you.
Post Office 2 Lack FD:
Although many small saving schemes are being run by the post office in which you are getting more returns than the government bank SBI, but here we are talking about the time deposit scheme where you can deposit for one year, 2 years, 3 years and so on. You can get an excellent return by investing money for 5 years.
There is a Time Deposit Scheme for Fixed Deposit in the Post Office, just as you get fixed returns in FD in banks, similarly you can earn guaranteed returns in the Time Deposit Scheme of the Post Office.
Interest Rates:
According to the information given on the official website of the Post Office, currently the interest on time deposit scheme is 6.9% for one year, 7% for two years, 7.1% for three years and 7.5% for 5 years.
In this scheme, any single person can open an account, apart from this, a maximum of three people can also open a joint account.
Time deposit account can be opened in post office by depositing only Rs 1000.
Tax Benefits:
Time deposit scheme provides the benefit of tax exemption under Section 80C of the Income Tax Act 1961, but keep in mind that FD schemes with a tenure of less than 5 years will not get the benefit of tax exemption. To get better interest rates and tax benefits, invest the amount for at least 5 years.
Post Office 2 Lack FD Returns on:
In the Post Office Time Deposit Scheme, currently 7.5% interest is being given on FD maturing in 5 years, if you invest Rs 2 lakh together in this scheme for 5 years, then you will get a total of Rs 2,89,990 on maturity. In this, Rs 89,990 will be earned only from interest.
Withdrawal of money before the FD matures is called pre-mature withdrawal. Pre-mature withdrawal of FD is allowed in the post office, but pre-mature withdrawal can be done only after 6 months from the date of account opening. But you will not get effective interest rates in this