Post Office Schemes: The Postal Department of India not only provides postal services but also provides many types of banking services. Along with ordinary savings account in the post office, accounts can be opened in various savings schemes like RD account, FD account, Kisan Vikas Patra, Monthly Income Scheme. Talking about FD, FD account can be opened in the post office for a period of 1 year, 2 years, 3 years and 5 years. You may be surprised to know that FD accounts in post office are earning more interest than banks. Here we will know how much return you will get if you deposit Rs 1 lakh in the post office FD scheme.
Post office is giving bumper interest up to 7.5 percent on FD accounts
How much return you will get by depositing Rs 1 lakh in the post office FD scheme depends on the period for which you are opening the account. The post office is offering 6.9 percent interest 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. Apart from this, you have to keep one special thing in mind that FD accounts in the post office are opened in the name of TD (Time Deposit). Post office’s TD account is exactly like the FD account of banks, in which you get the entire money back with fixed interest on maturity.
How much return will you get if you deposit Rs 1,00,000 in the post office?
If you deposit Rs 1 lakh in a 1 year FD in the post office, you will get a total of Rs 1,07,081 on maturity, which includes a return of Rs 7081. If you deposit Rs 1 lakh in a 2-year FD in the post office, you will get a total of Rs 1,14,888 on maturity, which includes a return of Rs 14,888. If you deposit Rs 1 lakh in a 3-year FD in the post office, you will get a total of Rs 1,23,508 on maturity, which includes a return of Rs 23,508. If you deposit Rs 1 lakh in a 5-year FD in the post office, you will get a total of Rs 1,44,995 on maturity, which includes a return of Rs 44,995.
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