Post Office Zero Risk Scheme: The Post Office Time Deposit Scheme offers investment options for different tenures, and the government offers better interest rates than FDs for a lump sum investment of five years.
Post Office Saving Schemes have become quite popular for their safe investments and excellent returns. If you also want to save some of your income and earn good returns, you can invest in them. Post Office Saving Schemes include various schemes for children, women, youth, and the elderly, in which the government itself guarantees the safety of investments. This includes the Post Office Time Deposit Scheme, in which an investment can earn more than 2 lakh rupees from interest alone.
The government is offering high interest rates.
Speaking of the interest rates on the Post Office Time Deposit Scheme, the government offers different interest rates for different tenures. This government scheme offers 6.9% interest on one-year investments, 7% on two-year investments, 7.1% on three-year investments, and 7.5% on lump-sum investments made for five years. This means investors can earn impressive returns by choosing the investment period of their choice.
This is how you can earn 2 lakh rupees.
The excellent interest rate has consistently placed this Post Office scheme among the most popular government schemes. Talking about how you can earn 2 lakh rupees by investing in this PO Time Deposit Scheme, the calculation is quite simple. You simply need to choose a 5-year tenure and invest 5 lakh rupees.
During this period, your investment will earn ₹224,974 in interest at 7.5%. Upon maturity, you’ll receive ₹724,974 instead of ₹500,000. This means this scheme will generate millions in interest-only earnings.
Risk-free investment, tax benefits too:
The Post Office Time Deposit scheme is a “zero-risk” policy and is directly supported by the Government of India. Significantly, customers can also benefit from tax benefits under Section 80C of the Income Tax Act, 1961, upon investing for five years.
An account can be opened with a minimum investment of ₹1,000, with no maximum investment limit. The scheme also offers the option of opening a single or joint account. A child over the age of 10 can open an account under the Post Office Time Deposit Scheme through a family member. Interest on investments is credited annually. You can easily open an account at your nearest post office.
