Post Office Special Scheme: Here is a good news if you too wish to receive a high rate of return on your investment. Actually, we’re going to tell you about this amazing post office scheme today in this news. This, upon investment of more than Rs 1 lakh, will yield interest of Rs 44,995. A time deposit programme offered by the Post Office Savings Scheme is also known as an FD programme. Customers can make time deposits at the post office for one, two, three, or five years.
Interest Rate Breakdown
Interest rates on time deposits are currently available from India Post at 6.9 percent for a year, 7.1 percent for two, 7.1 percent for three, and 7.5 percent for five years. If you wish to invest Rs 1 lakh in these various times in such a scenario, you can readily understand the returns.
The GROW calculator estimates that if you deposit Rs 1 lakh in the Post Office Time Deposit Scheme for a year, you will receive a total of Rs 1,07,081 at maturity at an interest rate of 6.9 percent. You would receive Rs 7,081 as interest from this.
Strategic Investment Horizon
The calculator shows that if you invest Rs 1 lakh in a two-year time deposit plan, you will receive a total of Rs 1,14,888 at maturity at a 7 percent interest rate. You will receive Rs 14,888 as interest on this total amount. At an interest rate of 7.1 percent, you can put Rs 1 lakh in a 3-year post office time deposit or fixed deposit programme and receive a total of Rs 1,23,508 at maturity. You will receive Rs 23,508 as interest or a return on this.
Long-Term Financial Strategy
Grow Collector estimates that if you invest Rs 1 lakh today in this longest tenure time deposit programme for 5 years, you will receive a total of Rs 1,44,995 at maturity at the rate of 7.5 percent interest. You will receive interest on this return of Rs 44,995.
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