Great Post Office Deposit Plan: Bumper returns on maturity on FD of ₹ 1 lakh for 5 years in the post office

Post office time deposit scheme: Most people want to invest so that their money never sinks. Also, the return on their investment should also be good. In such a situation, people choose the most traditional method of fixed deposit.

Till these days interest is also getting strong on getting FD. Whether it is a bank or a post office, the return on investment is good everywhere. If you also want to invest in fixed deposits, then Time Deposit Scheme (Post Office TD Account) is a great option. Deposit Rs 1 lakh in lump sum and forget it for 5 years. Not only will you get strong returns on maturity, you can also claim tax exemption under section 80C of the Income Tax Act on time deposits of 5 years.

Get guaranteed return

There is a time deposit scheme for Fixed Deposit in the post office. In this, the option of investing from 1 year to 5 years is open. Just like banks get fixed returns in FD, similarly you can earn guaranteed returns in post office time deposit scheme. It is also called National Savings Time Deposit Account in the post office. At present, a guaranteed return of 7% is available. You can take advantage of this till 31 March 2023. After this, the government can review and revise the interest.

For what period is the return?

How much money will be received by investing 1 lakh rupees?

At present, 7% interest is being received on investment in Post Office’s 5-year time deposit. If you invest Rs 1 lakh in this scheme together, then you will get a total of Rs 1,41,478 on maturity. In this, Rs 41,478 will be earned only from interest.

Who can take advantage?

Any Indian citizen can invest in the post office time deposit account. In this, single account, joint account (3 people together), on behalf of the minor, his parents or guardian can open the account. If the minor is above 10 years of age, then he can also open an account under this scheme in his own name.