High Return Post Office Scheme : The Center has increased the interest rate for small savings schemes from 1 April 2023. Interest rates on all savings schemes, except PPF, increased by 10-70 basis points.
These are safe and guaranteed return schemes, which are run by the government. Here you are telling about a similar scheme of the post office, in which you will get Rs 10 lakh on depositing Rs 5 lakh. Even today, Post Office Savings Scheme is the best way to increase.
Post office time deposit account
Today we will tell you about the 5-year Post Office Time Deposit Account (Post Office Time Deposit Scheme), which guarantees to double your money. This will give you the benefit of compound interest. After April 1, 2023, customers are getting 7.5 percent interest rate in the Post Office Time Deposit Scheme. You can invest in this scheme from Rs 1000.
Will get this much money after 5 years
If you invest Rs 5 lakh in a time deposit scheme, you will get Rs 7,24,974 on maturity. In this you will get Rs 2,24,974 as interest. If you extend the time deposit scheme for 5 years, you will get Rs 10 lakh instead of Rs 5 lakh.
Will get this much money after 10 years
In the time deposit scheme, this amount will become Rs 10,51,175 in 10 years. Rs 5,51,175 will be received as interest. Here your money is guaranteed to double in 10 years. Only individuals above 10 years of age can invest in this scheme. However, the account of a child can be opened under the supervision of his/her parents. You can open this account in the post office near you.
