Post Office Time Deposit Scheme: A Better Investment Option with High Returns
- Post Office is still considered the best option for investment with money-back guarantee
- Investing in the Post Office Time Deposit Scheme can help you save money and get high returns
- Interest rates on deposit schemes range from 6.8% to 7.5%
- Investors can receive tax exemption under 80C on 5-year investments
- Investors can enjoy maximum investment without any limit
- Investors can receive Rs 2,24,149 lakh as interest on investing Rs 5 lakh for 5 years
- Anyone above 10 years of age can open an account in the scheme
- Parents of a child below 10 years of age can open an account for them
- Investing Rs 1 lakh can help you get around Rs 1,45,000 on maturity with an interest of around Rs 45,000
Post Office Time Deposit Scheme is one of the most popular savings schemes in India. It offers high investment returns with a money-back guarantee. The scheme allows investors to save money and earn interest on their investments. Here are some important details you need to know about the scheme.
High Interest Rates on Investments
The Post Office Time Deposit Scheme offers a high rate of interest on investments. The interest rates vary depending on the duration of the investment. Investors can earn interest at the rate of 6.8% on a 1-year investment, 6.9% on a 2-year investment, 7.0% on a 3-year investment, and 7.5% on a 5-year investment. Additionally, investors can enjoy tax exemption under 80C on 5-year investments.
Maximize Your Investments
The Post Office Time Deposit Scheme offers unlimited investment options. Investors can invest as much money as they want in this scheme. This makes it an excellent option for those who want to maximize their investments without any restrictions.
Investment Returns
Investing in the Post Office Time Deposit Scheme can help you earn high returns. For instance, if you invest Rs 5 lakh for 5 years, you can expect to receive Rs 7,24,149 on maturity. Out of this, Rs 2,24,149 lakh will be the interest earned on your investment.
Who Can Invest?
Any Indian citizen can invest in this scheme. Investors can open single or joint accounts. Anyone above 10 years of age can open an account in their name, while parents of a child below 10 years of age can open an account for them.
Final Thoughts
The Post Office Time Deposit Scheme is a better investment option for those who are looking for high returns. It offers high-interest rates, unlimited investment options, and tax exemption under 80C. So, if you want to save money and earn high returns, investing in this scheme could be a wise decision.
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