If you want to invest in a scheme where your money is completely safe and you also get good returns, then post office savings schemes are a great option for you. Today we are going to tell you about one such great scheme in which you can create a fund of ₹ 1,23,508 by depositing ₹ 1 lakh.
Post Office Time Deposit (TD) Scheme
The post office time deposit scheme works exactly like the fixed deposit (FD) of banks. In this, you deposit money for a fixed period and on maturity you get the principal amount as well as the fixed interest. The most special thing about this scheme is that its interest rates are often better than banks.
Current interest rates:
➤ For 1 year: 6.9%
➤ For 2 years: 7.0%
➤ For 3 years: 7.1%
➤ For 5 years: 7.5%
Invest ₹1 lakh and earn ₹23,508
If you invest ₹ 1 lakh in this scheme for 3 years, then on maturity after 3 years, you will get a total of ₹ 1,23,508. This means that you will get a fixed and guaranteed interest of ₹ 23,508 without any risk.
There is no maximum limit on investment in this scheme and you can start with just ₹ 1,000. You can open a single account as well as a joint account in it. This scheme offers a uniform interest rate for everyone, so that all customers get equal benefit.
