Post Office Schemes are still regarded as the best investment opportunity. By making an investment, you can save money. Additionally, a money-back guarantee is offered. You can deposit lakhs of rupees in just five years, we’ll tell you today. Currently, many post office savings plans provide higher interest rates than bank FDs. This Post Office Schemes is a time deposit program which is a better financial choice.
Which investment will yield how much interest?
For one year, two years, three years, or five years, you can invest in the post office time deposit system. You receive interest at a rate of 6.8% for investments made for one year, 6.9% for two years, 7.0 percent for three years, and 7.5 percent for investments made for five years. You also qualify for tax exemption under Section 80C on investments made over a five-year period. The maximum investment in this is similarly unrestricted.
Will receive Rs 7,24,149 when it matures.
You will receive interest at a rate of 7.5 percent if you plan to invest in the Post Office Time Deposit Scheme for 5 years. If you invest Rs. 5 lakh, you will receive Rs. 7,24,149 when it matures after 5 years. Let us inform you that you would receive Rs 2,24,149 lakh in interest from your investment of Rs 5 lakh.
Anyone who is an Indian citizen is eligible to invest
in this program. You can open either a single account or a joint account. Anyone who is at least 10 years old can open an account in this program under his name. Children under the age of 10 can have an account opened for them by their parents. If you invest Rs 1 lakh in this plan, you would receive approximately Rs 1,45,000 at maturity and Rs 45,000 in interest at a rate of 7.5%.
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