Post Office Saving Schemes: The Post Office has left behind the big banks of the country in terms of giving higher returns on savings schemes. Apart from the normal savings account in the post office, you can also invest in various savings schemes like TD, RD, MIS, SCSS, PPF. Here we will learn 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. Many post office customers get TD account opened just by saying the name of FD at the post office. Let us know how much interest will be received if you deposit Rs 2 lakh in the post office in TD scheme for 12 months.
TD accounts are opened in post office for a period of 1, 2, 3 and 5 years.
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). 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.
How much interest will you get if you deposit Rs 2,00,000?
If you deposit Rs 2,00,000 in the 12-month TD scheme in the post office, you will get a total of Rs 2,14,161 on maturity, which includes interest of Rs 14,161. Let us tell you that 7.5 percent interest is being given on 5 year TD account in the post office and no bank in the country is giving this much interest. 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.