The Post Office Time Deposit (TD) scheme is becoming increasingly popular among investors, especially those who want better returns than bank fixed deposits (FDs). If you invest ₹100,000 in this Post Office scheme for 3 years, you will receive ₹123,508 after the specified period, out of which ₹23,508 will be your interest.
The Post Office Time Deposit (TD) scheme is becoming increasingly popular among investors, especially those who want better returns than bank fixed deposits (FDs). If you invest ₹100,000 in this Post Office scheme for 3 years, you will get ₹123,508 after the stipulated period, out of which ₹23,508 will be your interest. This scheme is a good option not only for senior citizen investors but also for ordinary small investors, as the minimum investment amount is just ₹1,000 and there is no investment limit.
The most important feature of this scheme is that it offers 7.5% annual interest on a 5-year FD, which is significantly higher than a typical bank FD. It is also worth noting that banks generally offer this interest rate only to senior citizens, while the post office offers this rate to all investors.
You can open a single or joint account under the Post Office Time Deposit Scheme. A maximum of three people can be added to a joint account. This is a great way to build a large family fund. Moreover, this scheme comes with a guarantee from the Government of India, which ensures complete safety of your money.
Investors can deposit their funds under the Time Deposit Scheme for any period between 1 and 5 years. Interest is calculated quarterly and paid annually. If investors want to withdraw their deposit before the maturity period, the facility of premature withdrawal is available after six months. Therefore, the Post Office Time Deposit Scheme is not only a safe investment option, but it also provides investors with better returns than bank FDs.
This scheme is also ideal for those who want to start with a small investment and gradually increase their investment. By opting for this scheme, you can protect your assets and get assured returns, especially at a time when the stock market and other investment options are not stable.
