Post Office Saving Schemes: The Postal Department of India provides not only postal services but also banking related services. Accounts can be opened in the post office under various types of savings schemes like RD, TD, MIS, SCSS, PPF, SSA, KVP. Post office’s TD scheme is earning more interest than banks’ FDs. Let us tell you that FD accounts are opened in the post office in the name of TD i.e. Time Deposit Scheme. Today we are going to tell you about a scheme in which you can get huge interest of Rs 44,995 by depositing just Rs 1 lakh.
6.9 percent to 7.5 percent interest is available on FD in post office
FD can be made in the post office for a period of 1 year, 2 years, 3 years and 5 years. In the post office, bumper interest is available at 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 bank in the country is offering this much interest. A minimum of Rs 1000 can be deposited in the post office FD scheme, whereas there is no limit on the maximum deposit. In the post office FD scheme, along with single account, joint accounts can also be opened. Maximum 3 people can be added to the joint account.
On depositing ₹1,00,000 you will get fixed interest of ₹44,995
The post office is giving the highest interest of 7.5 percent to its customers on FD scheme with a tenure of 5 years. If you deposit Rs 1 lakh in a post office FD scheme for 5 years i.e. 60 months, then on maturity you will get a total of Rs 1,44,995, which includes Rs 44,995 of fixed interest. Let us tell you that the Post Office works directly under the Central Government, on which you get fixed amount of interest on maturity with government guarantee. Keep in mind that in the post office FD scheme, all customers get the same interest, whereas in banks, senior citizens get 0.50 percent more interest on FD schemes with select tenures.
Disclaimer: This article has been written for information purposes only. Always consult your financial advisor before making any kind of investment or taking any financial risk. India TV will not be liable for any kind of risk.
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