Post Office Saving Schemes: The Postal Department of India, along with postal services, also provides various banking services to its customers. You can invest in many types of savings accounts in the post office. Some post office schemes are giving more interest than even the leading banks of the country. Today here we will tell you about the TD scheme of the post office, which is exactly like the bank FD and after a fixed time, the entire money is returned with fixed interest with guarantee. There is also a TD scheme of the post office, in which you can earn fixed and bumper interest of Rs 89,990 by depositing just Rs 2 lakh.
Heavy interest up to 7.5 percent is available in post office
You can open FD account in post office for the tenure of 1 year, 2 years, 3 years and 5 years. FD accounts are opened in post office 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. Your money remains completely safe in post office savings schemes, because they are directly under the control of the Government of India. The post office is offering 6.9 percent interest on 1 year TD, 7.0 percent on 2 year TD, 7.1 percent on 3 year TD and 7.5 percent on 5 year TD.
On depositing Rs 2 lakh, you will get fixed interest of Rs 89,990.
If you deposit Rs 2,00,000 in the 5-year TD scheme in the post office, you will get a total of Rs 2,89,990 on maturity, which includes fixed interest of Rs 89,990. At present, no bank in the country is offering 7.5 percent interest on 5 year FD scheme. However, you have to take special care that in the post office’s TD scheme, customers of all age groups get equal interest. Whereas, in banks, senior citizens get 0.50 percent more interest than ordinary citizens. Many banks offer even higher interest rates to customers above 80 years of age.
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