Post Office Scheme: The post office is offering interest ranging from 6.9 per cent to 7.5 per cent to its customers on TD (Time Deposit) accounts.
Post Office Scheme: The Reserve Bank of India has cut the repo rate twice this year. RBI has reduced the repo rate from 6.50 percent to 6.00 percent. The central bank first cut it by 0.25 percent in February, then by 0.25 percent in April. 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.
Disclaimer: This article is written for informational purposes only. Consult your financial advisor before making any kind of investment or taking any financial risk. Businessleague.in will not be responsible for any kind of risk.
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