Although you will get FD options in banks as well, but if you want to make FD for 5 years, then you will get good interest in the post office. Currently, 7.5% interest is being given on 5-year FD of post office. Apart from this, you also get tax benefit under Income Tax Act 80C in 5-year FD. Let us tell you how much money will be earned from interest on making FD of ₹ 1,00,000, ₹ 2,00,000 and ₹ 3,00,000 in post office FD.

On making an FD of ₹3,00,000

If you invest ₹3,00,000 in the post office time deposit scheme, then at the rate of 7.5 percent interest, you will get ₹1,34,984 only from interest. In this way, on maturity, you will get a total of ₹4,34,984.

On making an FD of ₹2,00,000

If you invest ₹2,00,000 in the post office time deposit scheme, you will get ₹89,990 as interest at the rate of 7.5 percent. In this way, you will get a total of ₹2,89,990 on maturity.

On making an FD of ₹1,00,000

₹1,00,000 is the amount that people usually invest in FD. If you also invest the same amount, then at the rate of 7.5 percent interest, you will get ₹44,995 as interest. In this case, you will get a total of ₹1,44,995 on maturity.

Extension option is also available

If you want, you can increase your benefits by getting your post office FD extended. 1 year post office FD can be extended within 6 months from the date of maturity, 2 year FD within 12 months of maturity period and for extension of 3 and 5 year FD, the post office has to be informed within 18 months of maturity period. Apart from this, you can also request for account extension after maturity at the time of opening the account. The interest rate applicable to the respective TD account on the day of maturity will be applicable for the extended period.

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If you are looking for an investment option where your money remains secure and you also get better profits, then FD has always been a good option for this. FD i.e. Fixed Deposit, you will get this option in all the banks. But if you want, this time you can try Post Office FD instead of bank.

Post Office FD is called Post Office Time Deposit. You get the option of FD for 1, 2, 3 and 5 years in the post office. If you deposit money in this for 10 years, you can more than double your amount. At present, interest is available at the rate of 7.5 percent on 5 year FD.

Know how to make double more money

At present, interest is available on post office FD at the rate of 7.5 percent. Suppose you deposit Rs 5 lakh in the post office, then at the rate of 7.5 percent you will get interest of Rs 2,24,974 lakh on it. In this way, in 5 years your amount will become Rs 7,24,974. Now if you deposit it again for 5 more years, then this amount will mature to Rs 10,51,175, which is more than double.

Interest on FD of one to five years

If fixed for 1 year – 6.9% If
fixed for 2 years – 7.0% If
fixed for 3 years – 7.0% If
fixed for 5 years – 7.5%

The post Post Office FD Scheme: Deposit Rs 5 lakh, you will get Rs 10,51,175, which means more than double profit first appeared on Rightsofemployees.com.