Post Office Time Deposit: Invest in post office for 5 years, up to Rs 2.25 lakh interest, avail this way!

Post Office Time Deposit (POTD) has always been considered reliable from the point of view of post office investment. Post office has come out with a great scheme called Time Deposit and in this scheme customers can invest for 1 to 5 years. Are

Most people invest in the post office so that they get 100 percent guarantee that their money is safe, in post office time deposits, the lien gets more interest than the bank FD.

By investing your money in a post office time deposit, you can get an interest of up to 7.7% per annum, plus if the customer wants, he can invest in it for two or three years, but the maximum time limit is 5 years.

Also Read: New rules apply for registration of commercial vehicles in UP from today, know everything about it

There are many banks, including India’s largest bank, SBI, which are continuously cutting the interest rates of their fixed deposits, where the customer is getting a maximum interest rate of 6.30% per annum on SBI’s FD of 7 days to 5 years. Banks such as HDFC Bank, ICICI and Bank of Baroda, including all major government and private banks, are paying annual interest on FDs around the same rate.

In such a situation, the customer has better option than bank FD, Post Office Time Deposit (POTD) and if you are thinking of FD, then in this scheme you can lock interest up to 7.7% per annum soon.

Post office time deposit interest rate
Term interest rates

1 year 6.9%

2 years 6.9%

3 years 6.9%

5 years 7.7%

2.25 lakh return on 5 lakh investment
If you invest 5 lakh rupees for a period of 5 years in a post office time deposit, then you will get a profit of around 2.25 lakh rupees, in which you will get interest at compounding rate of around 7.7% per annum.

In this case, your total amount on maturity will increase from Rs 5 lakh to Rs 7,24,517 and if the customer invests Rs 5 lakh in this scheme for 3 years, then his maturity amount will be Rs 6.10 lakh and Rs 5,71,381 on 2 years deposit , And if customers invest Rs 5 lakh for 1 year, then the maturity amount will be Rs 5,34,500.

Benefits of investing in post office time deposits

The post Post Office Time Deposit: Invest in post office for 5 years, up to Rs 2.25 lakh interest, avail this way! appeared first on informalnewz.