Post Office Saving Scheme has a time deposit scheme which you can also call FD scheme. The post office allows customers to make time deposits for one year, two years, three years and five years.
At present, India Post is offering interest rates on time deposits of 6.9 percent for one year, 7 percent for two years, 7.1 percent for three years and 7.5 percent for five years. In such a situation, if you want to invest Rs 1 lakh in these different periods, then the returns can be easily understood.
Return on time deposit for 1 year
If you invest Rs 1 lakh in Post Office Time Deposit Scheme for a year, then according to the GROW calculator at 6.9 percent interest rate, you will get a total of Rs 1,07,081 on maturity. In this you will get Rs 7,081 as interest amount.
Return on time deposit for 2 years
When you invest Rs 1 lakh in a two-year time deposit scheme, then according to the calculator, you will get a total of Rs 1,14,888 on maturity at 7 percent interest rate. In this total amount, you will get Rs 14,888 as interest amount.
Return on time deposit for 3 years
By investing Rs 1 lakh in a 3-year post office time deposit or FD scheme, you will get a total of Rs 1,23,508 on maturity at an interest rate of 7.1 percent. In this you will get Rs 23,508 as return or interest.
Return on time deposit for 5 years
If you invest Rs 1 lakh today in this longest tenure time deposit scheme for 5 years, then at the rate of 7.5 percent interest, according to Grow Collector, you will get a total of Rs 1,44,995 on maturity. In this you will get a return of Rs 44,995 as interest.
