Post Office Schemes: The Reserve Bank of India (RBI) has cut the repo rate by a total of 1.00 percent this year. This cut has been made in 3 times in February, April and then June. After the cut in the repo rate, all the banks of the country have also cut the interest rates of FD. However, the post office has not cut the interest rates of its savings schemes in any way. Here we are going to tell you about such a scheme of the post office, in which if you deposit Rs 2 lakh, you will get a fixed interest of Rs 29,776 directly.
Post office time deposit scheme
The post office runs a savings scheme called TD or Time Deposit for its customers. This scheme is just like the FD scheme of banks, in which investors get fixed interest at a fixed time. The interest rate on the post office’s TD scheme is ranging from 6.9 percent to 7.5 percent. The post office is offering its customers an interest of 6.90 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.
An investment of Rs 2 lakh in 2 years will give a fixed return of Rs 29,776
Post office is giving 7.0 percent interest on 2 year TD. If you deposit Rs. 2,00,000 in 2 year TD scheme in post office, then on maturity you will get a total of Rs. 2,29,776 with guarantee. This amount also includes a fixed return of Rs. 29,776. All customers get the same return in post office. Whereas in banks, senior citizens get more return than general citizens. Let us tell you that post office works under the control of central government. Therefore, your money is completely safe in it.
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