Post Office Saving Schemes: Savings accounts like savings accounts, FD accounts, RD accounts are opened not only in banks but also in post offices. You will be surprised to know that the post office is offering more interest to its customers than banks.
Today we are going to tell you about such a scheme of post office, where you will not only get more interest than banks, but your money will also get full protection of the government in this scheme. Here we are talking about the time deposit (TD) of the post office.
TD account can be opened for 1 year to 5 years
The TD scheme of the post office is just like the FD of banks. A lump sum amount is deposited in the TD account, on which you get a huge interest. You can open a TD account in the post office for 1 year, 2 years, 3 years and 5 years. The post office is offering interest of 6.9 percent, 7.0 percent, 7.1 percent and 7.5 percent respectively on these different periods of TD accounts. The post office is offering the highest interest of 7.5 percent on 5-year TD. A TD account can be opened with just Rs 1000, while there is no maximum deposit limit in it. That is, you can deposit as much money as you want in it.
If you deposit Rs 5 lakh, you will get interest of Rs 2.25 lakh on maturity
If you deposit Rs 5 lakh in the Post Office TD scheme, you will get a total of Rs 7,24,974 on maturity. This includes Rs 5,00,000 deposited by you along with a net and fixed interest of Rs 2,24,974. Let us tell you that your money is completely safe in the Post Office TD scheme. The Post Office works under the Ministry of Communications of the Government of India. Therefore, every penny deposited in the post office is completely safe.
Related Articles:-
IMD issued warning of heavy rain and storm for these states, check all details
School Holiday: Big relief…! Schools will remain closed for this many days in April, list released
Public holiday declared, schools, colleges, banks and LIC will remain closed for these many days
