Post Office Time Deposit Scheme: Since the Post Office Time Deposit (TD) scheme is a government savings scheme, there is no risk in it. It provides guarantee on capital and interest.
Post Office Time Deposit Scheme: The Reserve Bank of India (RBI) has cut the repo rate twice this year, after which most banks have made loans cheaper and have also reduced interest on fixed deposits (FD). However, during this time, the Post Office Savings Scheme has emerged as a reliable option among the customers. The most important thing is that it is giving good returns like before along with the guarantee of security. In such a situation, if you are looking for safe and fixed returns, then this scheme of the post office can prove to be beneficial for you.
Here we are talking about the Post Office Time Deposit Scheme, in which by investing only Rs 3 lakh, you can earn a guaranteed interest of Rs 44,664 in two years. Under this scheme, the calculation of investment and interest is done in this way-
- Interest rate for 1 year – 6.9 percent
- Interest rate for 2 years – 7.0 percent
- Interest rate for 3 years – 7.1 percent
- Interest rate for 5 years – 7.5 percent
In such a situation, if you deposit Rs 3 lakh in 2 years under the TD scheme, then after two years you will get a total of Rs 3,44,664. That is, three lakh investment amount and Rs 44,664 will be received only as interest. This return is completely guaranteed.
What is special in this?
- The time deposit scheme of the post office is a government savings scheme, so it is completely safe.
- Investors of all ages get the same interest on the deposit amount – there is no separate rate for senior citizens.
- You can start investing in the post office time deposit scheme with a minimum of Rs 200.
- Time deposit accounts can be easily transferred from one post office to another.
- 5-year time deposit is eligible for tax exemption under section 80C.
- You can withdraw the deposit amount before time.
- Nomination facility is also available in this.
- More than one person can jointly manage the time deposit account.
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