The post office has made many major changes in the interest rates of its savings schemes. The post office has changed the interest rates given for different tenure plans of TD i.e. Time Deposit Scheme.
TD accounts are opened in the post office for a period of 1 year, 2 years, 3 years and 5 years. The post office has changed the interest rates of TD schemes of 2 years, 3 years and 5 years, while no change has been made in the interest rates of 1 year TD. Let us know how much interest will be available on the TD scheme of the post office now?
Post Office increased the interest rates of 5 year TD
The post office has reduced the interest rates of TD schemes of 2 years and 3 years duration. Now 6.9 percent interest will be available on 2 year and 3 year TD of the post office. Let us tell you that earlier 7.0 percent interest was being given on 2 year TD and 7.1 percent interest was being given on 3 year TD. Apart from this, the post office has increased the interest rates on 5 year TD to 7.7 percent. Earlier 7.5 percent interest was being given on 5 year TD. The post office has not made any change in the interest rates of 1 year duration TD and the interest on it will be 6.9 percent as before. That is, now only 6.9 percent interest will be available on TD from 1 year to 3 years in the post office.
You will get interest of Rs 92,849 on Rs 2 lakh
Now, 5 year TD will earn 7.7 percent interest, which was 7.5 percent earlier. After the new interest rates are implemented, if you deposit Rs 2 lakh in 5 year TD of post office, then on maturity you will get a total of Rs 2,92,849, which includes interest of Rs 92,849. Let us tell you that Post Office TD scheme is exactly like FD of banks, in which fixed interest is paid at a fixed time. However, in TD scheme, all customers get equal interest, whereas in banks, senior citizens get 0.50 percent more interest on FD schemes of selected periods.
