Post Office Time Deposit Account: Through this scheme, investors are offered different interest rates according to different years. Money can be invested in Post Office Time Deposit Account for 1 year, 2 years, three years and five years.
Post Office Scheme: People want to earn good returns on their money through investment. However, along with this, people desire to earn returns without risk. In such a situation, if you want returns without risk, then the Post Office also provides many better schemes. The post office works under the central government and better returns are being given in many schemes of the post office during the tenure of the Modi government. One of these schemes is Post Office Time Deposit Account.
Different interest rates
Through this scheme, investors are offered different interest rates according to different years. Money can be invested in Post Office Time Deposit Account for 1 year, 2 years, three years and five years. There is no maximum limit to invest money in this account.
This is the rate
If money is being invested in this scheme, then 5.5 percent interest rate is given for 1 year. At the same time, 5.7 percent interest is given in this scheme for 2 years. Apart from this, 5.8 percent interest is given in this scheme for 3 years. If money is invested in this scheme for five years, then 6.7 percent interest is given.
Indians can open account
Any Indian citizen can open an account in this scheme. At the same time, the benefit of this scheme can be availed alone or it can also be availed by opening a joint account. At the same time, children of the age of 10 years or above can also open and operate an account in it. And in the case of a minor, his parents can also open an account.
How much amount needed
In this scheme, the interest is calculated on an annual basis. A minimum of one thousand rupees is required to open an account in this scheme. At the same time, according to the multiple of Rs 100, the maximum amount can be deposited in this account.
