By Admin 
Post Office Time Deposit Scheme: The Reserve Bank of India (RBI) has cut the repo rate twice this year, after which most banks have made loans cheaper and have also reduced interest on fixed deposits (FD). However, in the meantime, Post Office Savings Scheme has emerged as a reliable option among customers. The most important thing is that it is getting good returns as before with the guarantee of security. In such a situation, if you are looking for safe and fixed returns, then this post office scheme can prove beneficial for you.
Here we are talking about the Post Office Time Deposit Scheme Scheme, in which you can earn a guaranteed interest of Rs 44,664 in two years with an investment of just Rs 3 lakh. Under this scheme, the calculation of investment and interest is done in this way-
- Interest Rate for 1 year – 6.9 percent
- Interest Rate for 2 years – 7.0 percent
- Interest Rate for 3 years – 7.1 percent
- Interest Rate for 5 years – 7.5 percent
In such a situation, if you deposit 3 lakh rupees in 2 years under TD scheme, then after two years you will get a total of 3,44,664. That is, the amount of three lakh investment and 44,664 rupees will be available only as interest. This return is completely guaranteed.
What is special in this?
- The post office time deposit scheme is a government savings scheme, so it is completely safe.
- Investors of all ages get a similar interest on deposits- there is no different rate for senior citizens.
- You can start investment in post office time deposit scheme with a minimum of 200 rupees.
- The time deposit account can be easily transferred from one post office to another.
- Tax exemption under Section 80C on 5 years time deposit is exempted.
- You can withdraw the deposit amount ahead of time.
- Nomination facility is also available in it.
- More than one people can manage the time deposit account.
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