Post Office Saving Schemes: After the reduction of repo rate in April last month, almost all the banks had reduced the interest rates of FD. But the post office is still giving bumper returns on FD to its customers.
The post office is giving its customers interest ranging from 6.9 percent to 7.5 percent on FD. FD accounts can be opened in the post office for 1 year, 2 years, 3 years and 5 years. Today we will tell you how you can get a fixed interest of Rs 89,989 by depositing Rs 2 lakh in these schemes of the post office.
FD accounts are opened in the name of TD in the post office
In the post office, 6.9 percent interest is being given on 1 year FD, 7.0 percent on 2 year FD, 7.1 percent on 3 year FD and 7.5 percent on 5 year FD. Let us tell you that FD in the post office is known as TD i.e. Time Deposit. The TD scheme of the post office is exactly like the FD scheme of banks, where investors get fixed interest with guarantee. Let us tell you that the post office is controlled by the central government. Therefore, every penny deposited in this scheme is completely safe and you get fixed interest on it with guarantee.
If you deposit Rs 2,00,000 then you will get fixed interest of Rs 89,989
The post office is giving the highest interest of 7.5 percent on 5-year TD. If you deposit Rs 2,00,000 in a 5-year TD in the post office, you will get a total of Rs 2,89,989 on maturity. This includes Rs 89,989 fixed and guaranteed interest in addition to the Rs 2,00,000 deposited by you. Let us tell you that the post office gives the same interest to all its customers on TD account, whether he is a common citizen or a senior citizen.
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