After the Reserve Bank of India reduced the repo rate twice this year, most banks have made loans cheaper and have also reduced the interest on fixed deposits (FD). But in the meantime, post office savings schemes have emerged as a reliable option for customers. The special thing is that here one is still getting good returns like before, and that too with complete security.
If you are an investor looking for safe and fixed returns, then the Post Office Time Deposit (TD) scheme can prove to be a great option for you. By investing just ₹3 lakh in this scheme, you can earn a guaranteed interest of ₹44,664 in two years.
Know the complete calculation of investment and interest:
Under Post Office TD Scheme:
- Interest rate for 1 year – 6.9%
- Interest rate for 2 years – 7.0%
- Interest rate for 3 years – 7.1%
- Interest rate for 5 years – 7.5%
If you deposit ₹3 lakh in a 2-year TD scheme, then after two years you will get a total of ₹3,44,664. Out of this, ₹44,664 will be received only as interest. This return is completely guaranteed.
Why is Post Office’s TD scheme special?
- Backed by the Government – hence completely safe
- Same interest to investors of all ages – no separate rates for senior citizens
- Facility like FD of banks, but with more confidence
