Post Office FD Scheme: In the post office, FD is known as TD i.e. Time Deposit. TD is just like FD, in which you deposit a lump sum amount and after maturity at a fixed period, you get a fixed amount.
Post Office FD Scheme: While on one hand all the banks have cut the interest rates of FD after the RBI reduced the repo rate, on the other hand, in the post office, FD is still getting bumper interest like before. Yes, even after the reduction of repo rate on FD in the post office, the same huge interest is being given as before. Let us tell you that in the post office, FD is known as TD i.e. Time Deposit. TD is just like FD, in which you deposit a lump sum amount and after maturity at a fixed period, you get a fixed amount.
How much money can be deposited in a Post Office TD account
TD can be done in a Post Office for only 4 different periods. TD can be done in a Post Office for 1 year, 2 years, 3 years and 5 years. The Post Office is giving a bumper interest of 6.9 percent on 1 year TD, 7.0 percent on 2 year TD, 7.1 percent on 3 year TD and 7.5 percent on 5 year TD. A minimum of Rs 1000 can be deposited in a TD account, while there is no limit on the maximum amount deposited in it. That is, you can deposit as much money as you want in it. The Post Office gives the same interest to all its customers. Women, men, senior citizens all get equal interest in the Post Office.
How much money will you get if you deposit Rs 4 lakh in 12 months TD
Let us now know how much money will you get on maturity if you deposit Rs 4 lakh in 12 months i.e. 1 year TD in the post office. As we just told you that 1 year TD is getting 6.9 percent interest. According to this, if you deposit Rs 4 lakh in 12 months TD, then you will get a total of Rs 4,28,322 on maturity at the rate of 6.9 percent, which includes interest of Rs 28,322. Keep in mind that to open a TD account in the post office, you must have a savings account in the post office itself.
