Many people plan to invest for the future. In these, people invest in different schemes. In which they can get good returns. Many people invest in stocks. Many people invest in mutual funds. Some invest in property. And some people invest in savings schemes.

The Government of India also runs many good savings schemes for the people. One of these is the post office scheme. In which very good returns are available. In the post office time deposit scheme, people earn lakhs of rupees just from the interest. Currently, up to 7.5 percent interest is being given in this.

In this scheme, you can invest for 1 year, 2 years, 3 years and 5 years. For 1 year, you will get 6.9 percent interest, for 2 and 3 years, 7 percent, while for 5 years, you get 7.5 percent interest. If you invest 5 lakhs for 5 years, then after 5 years you will get an interest of 2,24,974 at an interest rate of 7.5 percent. That means the total amount will be 7,24,974 rupees.

To apply for the scheme, you will have to go to the post office with the required documents. You can fill the form for the scheme there and submit it along with the required documents.

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The post Post Office great plan: You will get interest worth lakhs in this scheme of post office, let us tell you how to apply first appeared on Rightsofemployees.com.

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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In this (Post office 5 year Time Deposit scheme) the rate of interest is annual but is calculated on a quarterly basis. Investment in this scheme can be started with a minimum of Rs 1000. If you come from those investors who do not want to take risk and can be satisfied with fixed returns, then you can invest lump sum money in Post Office 5 year TD scheme of Post Office. In lieu of this, how much return will be received, we understand it here with the help of FD calculator.

How much will be the profit on investing ₹ 1 lakh

According to the Bankbazaar Post Office FD calculator, if you invest Rs 1 lakh today (by choosing the Reinvestment/Cumulative option) in the five-year Post Office Time Deposit Scheme, you will get 7 percent interest on maturity based on That is, after 5 years you will get Rs 1,41,478. In this, Rs 1 lakh is your investment amount and on this you will get the actual return of Rs 41, 478. The investment made under this post office scheme is also safe.

How much will be the profit on investment of ₹ 2 lakh

If you invest Rs 2 lakh in the five-year post office time deposit scheme as on date, then on the basis of 7 percent interest rate, on maturity i.e. after 5 years, you will get a total of Rs 2,82,956. There is an investment of Rs 2 lakh from your side and you will get Rs 82,956 as a return.

If you invest ₹ 5 lakh, you will get this much return

According to the Bankbazaar Post Office FD Calculator, if an investor invests Rs 5 lakh in this scheme as a lump sum, then he gets a total of Rs 7,07,389 as calculated on maturity on the basis of 7 percent interest. The amount invested by the investor in this is Rs 5 lakh, but on this he gets a return of Rs 2,07,389.

Benefits of Five Year Time Deposit Scheme in Post Office

If you invest in this scheme (Post office 5 year Time Deposit scheme), then you can open as many accounts as you want. Benefit is also available under section 80C (section 80C) of the Income Tax Act 1961 on the investment made in this. On maturity, you can also extend it for the same amount of time. Any single, joint and even three adults together can open the account. A minor can also operate the account.

The post Post Office’s 5-year FD Plan: Post Office 5 year time deposit scheme returns interest rate and benefits and all you need to know 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.

The post Post office Time Deposit Rate Increased: The government has increased the interest rates of Post Office Time Deposit Scheme, check new rates Instantly first appeared on Rightsofemployees.com.

This change has been made on 2 year and 3 year time deposit scheme. Amidst the repo rate hike, investors get better returns on their deposits, due to which the government has taken this step. However, the rates on 5 years and 1 year time deposits remain the same as before. At present, investors who do not want to take market risk at all and are looking for stable returns while keeping their deposits safe, then the time deposit scheme of the post office is a better option.

1 year to c

1-year FD: 5.5% p.a. Interest
2-year FD: 5.7% p.a.
3-year FD: 5.58% p.a.
5-year FD: 6Post Office TD: How much profit in 5 years

.7% p.a. Interest

Deposit: Rs 10 lakh
Tenure: 5 years
Interest: 6.7%
Maturity Amount: Rs 13,83,000
Interest lost: Rs 3,83,000

Features and benefits of the scheme

It has the facility to open single and joint accounts. There can be 3 adults in a joint account.
The special thing about this scheme is that an investor can open multiple accounts.
On depositing at least Rs 1000, an account can be opened in any post office. There is no limit on the maximum deposit.
In this scheme, the benefit of tax exemption is available on the investment made for 5 years.
Keeping the account as security, you can also take a loan instead.
There is no risk due to being a government deposit.
Account can be transferred from one post office to another post office.

Safer than bank FD

It is a safer investment than bank FDs, as it provides government guarantee on the investor’s capital and the interest earned. Whereas, in bank FD, you get protection only up to a maximum amount of Rs 5 lakh on capital and interest as per the rules of Deposit Insurance and Credit Guarantee Corporation (DICGC).

The post Post Office TD: This government scheme will give 3.8 lakh interest on 10 lakhs, there are investment options from 1 year to 5 years first appeared on Rightsofemployees.com.

After a long time, the central government has increased the interest rates of some small savings schemes. If you are looking for a safe option to invest, then Post Office Savings Scheme can be a better option for you.

The Central Government has increased the interest rate on schemes like Time Deposit Scheme, Senior Citizen Saving Scheme, Kisan Vikas Patra and Post Office Monthly Income Scheme for two and three years. The increase in the interest rates of these small savings schemes has become effective from October 1

Such increased interest in time deposit: 5.5% interest was being given in the post office time deposit for the first two years. Now it has been increased by 20 basis points. After this the interest rate has gone up to 5.7 percent. Whereas 30 basis points interest has been increased on the three-year time deposit scheme.

Under this, earlier interest was available at the rate of 5.5 percent. Now this rate has become 5.8 percent. For your information, let us tell you that in the first quarter of the year 2020-21, the interest rate of these schemes was cut, after which they have been increased now.

Monthly Income Scheme The interest rate of the Monthly Income Scheme of the Post Office has been increased by 10 basis points. Earlier, interest was being given at the rate of 6.6 percent under this. Now in this scheme, interest will be available at the rate of 6.7 percent.

Under the Kisan Vikas Patra

Kisan Vikas Patra scheme, interest was given at the rate of 6.9 percent for the first 124 months. The central government has now increased the interest rate on this scheme as well. Now under this scheme, interest will be available at the rate of 7 percent on the maturity of 123 months.

Senior Citizen Saving Scheme

The Central Government has also increased the interest rate by 20 basis points in the Senior Citizen Saving Scheme of the post office. Earlier, under this scheme, interest was available at the rate of 7.4 percent, which has now increased to 7.6 percent.

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