Bank FD is a popular investment option in India. Because, along with fixed returns, the investment is completely safe. Usually, crores of people of the country prefer to make FD in government bank (Bank FD Interest Rate) or post office. Fixed deposit is known as time deposit in post office. But, do you know how much interest is available in post office time deposit and SBI FD and where is the interest more.

Since people across the country like to invest money in State Bank of India and Post Office schemes and FD, it is important for you to know where in these two, more interest is available on FD and in how many years the money doubles.

What is the interest rate on SBI FD

State Bank of India, India’s largest public sector bank, offers interest on FDs based on the deposit period. SBI offers interest in the range of 6.25% to 6.30% for FDs with tenures ranging from 1 to 5 years.

• The interest rate on FDs with tenures of one year and less than 2 years is 6.25%.
• The interest rate on FDs with tenures of two years and less than three years is 6.45%.
• The interest rate on FDs with tenures of three years and less than 5 years is 6.30%.

Interest rates in post office time deposits

• The interest rate in post office time deposits is higher than that of SBI.
• Interest rate in one year post office time deposits is 6.9%
• Interest rate in Post Office Time Deposit for a period of 2 years is 7.0%
• Interest rate in Post Office Time Deposit for a period of 3 years is 7.1%
• Interest rate in Post Office Time Deposit for a period of 5 years is 7.5%

Where money doubles quickly
If the interest on SBI FD and post office time deposit is calculated as per Rule 72, then money doubles quickly in post office time deposit. Since, post office gives 7.50% interest on a period of 5 years, hence the money doubles in 9.5 years.

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After this move of RBI, while on the one hand the banks made loans cheaper, on the other hand, they also cut the interest rates of FD. However, the post office is still giving bumper returns to its customers on savings accounts like before. Today we will tell you about a scheme of the post office, in which a fixed interest of Rs 44,664 can be obtained by depositing Rs 3 lakh.

On depositing ₹3,00,000, you will get fixed interest of ₹44,664

The post office is offering its customers an interest rate of 6.9% to 7.5% on TD (time deposit) accounts. The post office is offering 6.90% interest on 1-year TD, 7.0% on 2-year TD, 7.1% on 3-year TD and 7.5% on 5-year TD. If you invest Rs 3 lakh in the 2-year TD scheme in the post office, you will get a total of Rs 3,44,664 on maturity. This includes fixed and guaranteed interest of Rs 44,664.

Your money is completely safe in all the schemes of the post office

Let us tell you that your money is completely safe in all the schemes of the post office. The TD scheme of the post office is similar to the FD scheme of banks, in which customers get fixed interest with guarantee in a fixed period. However, banks give 0.50 percent more interest to senior citizens on FD schemes than to general citizens. But the post office does not give additional interest to senior citizens. Customers of all age groups get the same interest in the post office.

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Like a bank, options of FDs of different tenures are available in the post office. 7.5 percent interest is being given on 5-year FD. Along with this, you also get tax benefits under Income Tax Act 80C. In such a situation, if you invest in this scheme, you can triple your money. For this, you have to do just one thing.

Know what you have to do

To triple your money in the post office, you have to choose a 5-year FD. You have to invest in this scheme and extend it before it matures. You have to do this extension 2 times in a row, which means you have to run this FD for 15 years. If you invest Rs 10 lakh in this FD, then at the rate of 7.5 percent interest, you will get Rs 4,49,948 interest on this amount in 5 years. In this way, the total amount will be Rs 14,49,948.

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But if you extend this scheme for 5 years, you will get Rs 11,02,349 only as interest and after 10 years your total amount will be Rs 21,02,349. You will have to extend it once more before it matures. In this case, on the 15th year, you will get Rs 20,48,297 only as interest on an investment of Rs 10 lakh. On maturity, you will get Rs 30,48,297. That is, you will get twice as much interest as your principal and triple your amount.

Understand the rules of extension

Post Office 1 year 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 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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The post Post Office’s great FD Plan: You will get ₹30,00,000 on investment of ₹10,00,000, Know everything here first appeared on Rightsofemployees.com.

Many investors want to make secure investments. The first option that comes to mind when it comes to secure investment options is Bank FD and Post Office Scheme .

If you are also going to select the bank FD option, then wait now. Let us tell you that in the term deposit scheme of the post office, you will get more interest and guaranteed returns than the bank FD.

Post Office Term Deposit

There is no risk in the Post Office Term Deposit Scheme and it gives guaranteed returns. Currently, the Post Office Term Deposit is getting 7.5 percent interest (Post Office Term Deposit Interest Rate) for a period of five years. This scheme has the same interest rate for all investors, that is, senior citizens also get 7.5 percent interest.

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Interest is paid annually, but interest calculation is done every quarter. Let us tell you that you can close this scheme before the stipulated time as well. However, if you withdraw the interest before the stipulated time, you will get a lower interest rate.

Understand it like this, if you withdraw after 4 years in a five year scheme, you will get interest at the rate of 4 percent.

• Maturity period- 5 years
• Interest rate- 7.5%

Bank FD

The interest rate of bank FD is different for every bank. Apart from this, the rates for senior citizens and super senior citizens are different in bank FD. Most of the big banks of the country are offering 7 percent interest on FD maturing in five years.

What is the interest rate in which bank

If you make a bank FD, then first of all you should compare the interest rates of all the banks. Apart from this, also read the terms and conditions of bank FD carefully.

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The government is running some schemes for all sections of the country. Many schemes of the post office benefit the poor as well as the middle class. Post office time deposit is one such small saving scheme. Any citizen can invest in the post office scheme for 5 years, in which investors get an interest of 7.50 percent. Investors can avail tax exemption of up to Rs 1.50 lakh under 80C.

In the government scheme Post Office Time Deposit, the entire amount has to be deposited at once. Interest keeps getting added to it from time to time. This scheme is also called Post Office FD. Under Time Deposit, interest is offered for four types of periods.

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How much interest will be received on which period?

Under Post Office Time Deposit, interest is available at the rate of 6.9% for a period of 1 year.

• Interest is available at the rate of 7.0% for a period of 2 years.
• Interest is given at the rate of 7.1% for a period of 3 years.
• Under the Post Office Time Deposit Scheme for 5 years, an interest of 7.5% is available.
• A single or three persons can open a Post Office Time Deposit account simultaneously.

Under Post Office TD, 3 people can open an account singly or jointly. In this scheme, a minimum investment of Rs 1000 can be made in multiples of Rs 100. There is no limit on the maximum amount to be invested. Under this scheme, a rebate of Rs 1.5 lakh per annum is given under Income Tax Section 80C for a period of five years. Under this scheme, you cannot withdraw money before six months.

You will earn Rs 4.5 lakh from interest alone

If you save Rs 2,778 every day under this scheme and invest at least Rs 10 lakh at once after a year, you will earn Rs 4,49,948 in 5 years from interest alone. The total amount in five years will be Rs 14,49,948.

The post Post Office: By saving just Rs 2,778, you will get Rs 14,49,948 in 5 years. Details here first appeared on Rightsofemployees.com.

Any citizen can invest in this scheme for 5 years, in which investors are given strong interest. Along with this, tax exemption (Income Tax Benefits) can also be availed. Let us know the complete details of this scheme.

This government scheme is Post Office Time Deposit (Post Office TD), which is operated under the Small Savings Scheme. The special thing about this scheme is that you can invest a lump sum amount in it, in which interest keeps getting added from time to time. This scheme is also called Post Office FD. Four types of tenure are offered under time deposit.

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How much interest on which tenure?

• Under Post Office Time Deposit, an interest of 6.9% is given for 1 year tenure. 
• An interest rate of 7.0% is given for the Time Deposit tenure of two years. 
• Time deposit interest rate for 3 year tenure is 7.1%. 
• Post Office offers Time Deposit scheme for 5 years, under which the interest is 7.5%. 

3 people can open an account at the same time

Under Post Office TD, 3 people can open an account in single or joint. In this scheme, the minimum investment can be Rs 1000 in multiples of 100. There is no limit on the maximum amount. Under this scheme, a rebate of Rs 1.5 lakh per annum is given under Section 80C of Income Tax under a tenure of five years. You cannot withdraw money under this scheme before six months.

You will earn 4.5 lakh rupees from interest only

If you save Rs 2,778 every day under this scheme and invest at least Rs 10 lakh in lump sum after one year, then you will earn Rs 4,49,948 from interest alone in 5 years. The total amount in five years will be Rs 14,49,948.

The post Post Office’s FD scheme will earn Rs 4.5 lakh from interest only. check here first appeared on Rightsofemployees.com.

Post Office Time Deposit: Generally, people making fixed deposits often make FD in the bank, but if you want to make a long term FD then invest once in the post office. Post Office FD is known as Post Office Time Deposit (Post Office TD). Here you will get FD options of 1, 2, 3 and 5 years. Different interest rates are given on all.

But the post office gives good interest on 5 year tax free FD. If you invest money in this scheme, it can more than double in a few years. Let us tell you what are the interest rates of post office FD and how you can more than double the amount through this.

• Or are the interest rates of Post Office TD
• On one year account – 6.9% per annum interest
• On two year account – 7.0% per annum interest
• On three-year account – 7.1% annual interest
• Interest on five year account – 7.5% per annum
• In this way the money will be more than double

Post Office Time Deposit can more than double your invested amount, but for this you will have to do one thing. You will first have to make an FD of Rs 5 lakh for 5 years. But after 5 years you have to fix this FD again for the next 5 years. In this way the time duration of your FD will be 10 years.

This is how you will get ₹10,51,175 on investment of Rs 5 lakh

When you deposit an amount of Rs 5 lakh in Post Office FD for 5 years, then according to the Post Office Time Deposit Calculator, you will get Rs 2,24,974 as interest at the rate of 7.5 percent. That means after 5 years you will get this amount of Rs 7,24,974. But when you fix this amount again for the next 5 years, then at the rate of 7.5 percent interest, you will get Rs 3,26,201 as interest. By adding Rs 7,24,974 + Rs 3,26,201, the total will be Rs 10,51,175. In this way you will get Rs 10,51,175 on maturity.

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Post Office RD is like a piggy bank. In this, a fixed amount has to be deposited every month for 5 consecutive years. On maturity, the amount is returned along with interest. At present, interest is being given on it at the rate of 6.7%. Any person can start investing in this scheme with even Rs 100.

Post Office Time Deposit

The fixed deposit scheme run in post office is called Post Office Time Deposit. In this, lump sum amount can be deposited for 1, 2, 3 and 5 years. The interest rate varies according to the tenure. Interest is available at 6.9% for 1 year, 7% for 2 years, 7.1% for 3 years and 7.5% for 5 years. A minimum deposit of Rs 1000 can also be made in this.

Post Office MIS

Investment in Post Office MIS can also be started with a minimum of Rs 1000. The maximum investment is Rs 9 lakh in single account and Rs 15 lakh in joint account. In this scheme which earns money through interest every month, interest is given at the rate of 7.4%. Your money is deposited for 5 years and after that the original amount is returned.

PPF

Public Provident Fund is a scheme which has to be run for 15 years. A minimum investment of Rs 500 can be made annually and the maximum investment is Rs 1.5 lakh annually. In this scheme, interest is given at the rate of 7.1%.

Senior Citizen Savings Scheme

Senior Citizen Savings Scheme is also a one time deposit scheme. Investment in this scheme can be started with a minimum of Rs 1000. Maximum investment can be made up to Rs 30 lakh. The government gives interest at the rate of 8.2% on this 5-year deposit scheme being run for senior citizens. This scheme is very good for retired people.

NSC

Any Indian citizen can start investing in National Savings Certificate with just Rs 1000. There is no limit on maximum investment. At present, interest is being given on this scheme at the rate of 7.7%. In this scheme also, you can take advantage of better interest rates by depositing the amount for 5 years.

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In this series, today we are going to tell you about a very wonderful scheme of the post office. The name of this scheme is Post Office Time Deposit Scheme. By investing in this scheme you can earn lakhs of rupees. You are getting many benefits by investing in this savings scheme. Here you get tremendous returns on your investment money. The most important thing about this scheme is that your money remains completely safe here. You do not have to face any kind of market risks.

At present, an interest rate of 7.5 percent is being given on investing in the time deposit scheme of the post office. In this post office savings scheme, you can invest money for 1 year, 2 years, 3 years and 5 years.

If you invest in this post office scheme for one year, you get an interest rate of 6.9 percent. An interest rate of 7 percent is available on investment for two or three years and an interest rate of 7.5 percent on investment for five years.

If you invest five lakh rupees in the time deposit scheme of the post office for five years. In such a situation, if you calculate the current interest rate at 7.5 percent, then you will get interest of Rs 2,24,974 during this period. After five years, you will have a total amount of Rs 7,24,974 at the time of maturity. In such a situation, you can earn lakhs of rupees by investing in this scheme.

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post office time deposit scheme

Post Office Time Deposit is similar to Bank Fixed Deposit. You invest money at a fixed rate of interest for a fixed period and you are given a pre-decided rate of return on that. This is a government scheme and your money is completely safe in this. For the July-September 2023 quarter, you can get an interest rate of 7.5 per cent on a five-year post office fixed deposit. At 7.75 per cent interest rate, only DCB Bank offers 0.25 per cent more than the five-year POTD.

What is the interest rate on FD of banks

Meanwhile, banks like HDFC Bank, ICICI Bank, Axis Bank and IDFC First Bank offer an interest rate of 7 per cent on deposits maturing in five years. IndusInd Bank offers an interest rate of 7.25 per cent on FDs maturing in five years. SBI offers an interest rate of 6.5 percent for FDs maturing in five years.

How is interest rate calculated?

In the 5-year Post Office Time Deposit scheme, the interest is compounded quarterly but accrues annually. Annual interest can be credited to the account holder’s savings account by submitting an application. To open Post Office Time Deposit online, you must have a savings account with India Post. Or you can open an account in any post office. However, through the fast internet banking facility, you can open your account online in any major bank.

Who can open 5 years Post Office Time Deposit and 5 years Bank FD?

You also need to be a citizen of India to open your account in the post office. Any minor above the age of 10 years can open an account in the post office in his own name. A resident Indian can open a Fixed Deposit in any bank in India.

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Fixed Deposit ie FD is considered a better option for safe investment. During the last few months, attractive interest rates on deposits have increased the interest of investors. Today we will tell you on whom it is better to bet in post office and SBI deposits.

Talking about the post office term scheme, it comes under the ambit of small savings scheme. Under this scheme, the interest rates have been increased by the government. The return on the two-year post office time deposit is 6.9 per cent, which is higher than that offered by most banks on similar maturity deposits. The interest rate on the three-year post office time deposit has been increased to 7 percent.

term interest rate
1 year – 6.8%
2 years – 6.9%
3 years – 7.0%
5 years – 7.5 %

State of SBI FD: General customers are getting 3% to 7.1% interest on SBI FD between 7 days to 10 years. Senior citizens get 50 bps additional interest rate on deposits. The interest rate offered by SBI on deposits of one year to less than two years is 6.8 percent. The interest rate on deposits of two years to less than three years is 7 percent. These rates are effective from February 15.

7-45 days – 3% interest
46-179 days – 4.5%
180-210 days – 5.25%
211 days – less than 1 year – 5.75%
1 year – less than 2 years – 6.8%
400 days (Amrit Kalash) – 7.10%
2 years – less than 3 years – 7.00%
3 years – less than 5 years – 6.5%
5 years – up to 10 years – 6.5%

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It is also called post office FD. Through this, you can get the amount fixed for 1, 2, 3 and 5 years and can get a good interest. If you want, you can also double your amount. But for this you have to fix the money for a long time. Let us tell you that in how much time your money will be doubled through time deposit.

First know the current interest rate

Talking about the interest received on the post office time deposit scheme, currently 6.6% on 1 year FD, 6.8% on two year FD, 6.9% on three year FD and 7% interest on 5 year FD. Are getting. In this, the interest is paid on an annual basis, but it is calculated on a quarterly basis. Apart from this, you get the benefit of compounding in time deposits, that is, apart from the principal, you are also given interest on the interest. The longer you invest, the better you will be able to take advantage of compounding.

This is how your money will double

If you want to get good profit through post office time deposit scheme, then the amount has to be fixed for at least 5 years. In the time deposit of 5 years, you will get interest at the rate of 7 percent. Meanwhile, even if there is a change in the interest rates, the same interest will be charged on your invested amount with which you have invested the money.

Suppose you invest Rs 5 lakh in the post office for five years, then at the rate of 7 per cent you will get Rs 2,07,389 as interest after five years. In this way, you will get Rs 7,07,389 on maturity, but you do not have to withdraw this amount, but you have to fix it again for 5 years. In this case, after the next 5 years, you will get an interest of Rs 5,00,799 on the invested amount and after maturity, the total amount will be Rs 10,00,799.

If you invest money with this formula, you will get Rs 2,00,160 after 10 years, Rs 4,00,319 for Rs 2 lakh, Rs 6,00,479 for Rs 3 lakh after 10 years at 7% interest rate. And after fixing Rs 10 lakh, you will get Rs 20,01,597 after 10 years. That is, after 10 years your amount will double.

keep in mind

The interest rates mentioned above are currently applicable till March 31. That is, to get 7% interest on a 5-year time deposit, you will have to fix the money before March 31. After this, there can be a change in the interest rates. After changing the interest rate, if you fix money in it, then it will be calculated according to the new interest rates.

The post Post Office Super Plan: Guaranteed returns will be available in this post office scheme, your amount will double in 10 years, know the benefits first appeared on Rightsofemployees.com.

Fixed deposit scheme of post office is called term deposit scheme. You can invest money in this scheme for 1 year, 2 years, 3 years and five years. Recently, the government has increased the interest rates of many small savings schemes. These include the name of Post Office’s Time Deposit Scheme.

Customers getting higher interest rate

The government has increased the interest rates of post office time deposit scheme by 20 basis points on January 1, 2023. After this increase, now the five-year FD scheme of the post office is getting 7.00 percent interest rate. Customers are getting 6.6 percent interest rate on 1 year FD. At the same time, 6.8 percent interest rate is being offered on FD of 2 years and 6.9 percent on FD of 3 years.

Will get the benefit of tax exemption

By investing in Post Office Time Deposit Scheme for 5 years, you will get a deduction of Rs 1.5 lakh under Section 80C of Income Tax, 1961. Along with this, you can invest in this scheme in multiples of Rs 1,000 to a maximum of 100 as per your need. There is no limit to the maximum investment in this.

Special features of Post Office Time Deposit Scheme-

• You can open this account as a single account.
• You can open this account as a joint account with two or three people.
• You can open this account for a minor child (above 10 years) under parental supervision.

How much return will you get-

If you invest money in the time deposit scheme of the post office for 5 years, then at the rate of 7 per cent you will get Rs 2,07,389 as interest. In this case, on maturity, you will be the owner of the entire Rs 7,07,389. Whereas, if you reinvest this amount, you will get a total of Rs 10,00,799 on maturity.

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Fixed deposit of post office is called time deposit. Post Office Time Deposit has different interest rates for different tenures. The investor gets the benefit of compounding in this.

Interest is paid on an annual basis

In this, the interest is paid on an annual basis, but it is calculated on a quarterly basis. If you fix the money in Post Office Time Deposit for one year, then you will get 5.50% interest rate. Interest is available at the rate of 5.70% on 2 year time deposit, 5.80% on 3 year time deposit and 6.70% on 5 year time deposit. If you have also made up your mind to invest in Post Office Time Deposit, then you do not need to visit the post office for this, you can easily open it sitting at home.

Online process to open post office time deposit

• The facility of opening a post office time deposit account is provided through intra-operable netbanking/mobile banking.
• For this, you have to login to the Post Office e-Banking (https://ebanking.indiapost.gov.in) using the registered User ID and Password.
• After that go to the option of ‘General Services’ and click on ‘Service Request’ and click on Open.
• After that go to the option of ‘New Request’ and apply for opening of Time Deposit Account.
• Meanwhile, you will need to upload some documents like- Active Savings Account, PAN Card, KYC Documents, Active DOP ATM or Debit Card and Mobile Number and Email ID etc.
• Follow all the process of application. After verifying the given information, your account will be opened.

How to open offline account

To open an offline account, you will have to go to the nearest post office branch with all the necessary documents. There you will get all the necessary information to open the Post Office FD from the concerned officer. By following it, you can open a time deposit account.

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Many such schemes are run by the Post Office Saving Schemes, through which you can easily double your money in a few years. If you are also looking for a scheme to double the money, then today we will tell you about such schemes, in which your money will be doubled soon. Let us tell you how many years it will take for you to double your money in these schemes.

These schemes include Post Office Time Deposit, Post Office Savings Account, Post Office Recurring Deposit, Post Office Monthly Income Scheme, Post Office Public Provident Fund, Post Office Senior Citizens Savings Scheme, Post Office Sukanya Samriddhi Account and Post Office National Savings Certificate. .

1. Post Office Time Deposit To double the money, post office time deposit is the best scheme. In this, interest of 5.8 percent is available on time deposits from 1 to 3 years. By investing in it, your money will double in about 13 years.

2. Post Office Monthly Income Scheme The money in the Post Office Monthly Income Scheme doubles in about 10.91 years. In this, you get the benefit of interest at the rate of 6.7 percent.

3. Post Office Senior Citizens Savings Scheme

The money in the Senior Citizen Savings Scheme of the Post Office will double in about 9.73 years. In this, the benefit of interest will be available at the rate of 7.6 percent.

4. It will take about 18 years to double the money in the Post Office Savings Account. Let us tell you that this scheme takes the most time because the rate of interest is also low in it. At present, customers are getting interest at the rate of 4 percent in this.

5. Post Office Recurring Deposit Money in Post Office Recurring Deposit will double in about 12.41 years. In this, you get the benefit of interest at the rate of 5.8 percent.

6. Post Office National Saving Certificate

The National Saving Certificate of the Post Office is getting 6.8 percent interest. Investing in this 5-year savings scheme will double the money in about 10.59 years.

Let us tell you that after a long time, the central government has increased the interest rates of some small savings schemes. The increase in the interest rates of these small savings schemes has become effective from October 1. If you are looking for a safe option to invest, then Post Office Savings Scheme can be a better option for you.

The post Post Office Launch New Plan: Good News! Money will be doubled in these 6 schemes of Post Office, check all details here first appeared on Rightsofemployees.com.