Post Office FD: How much return will you get in 1 year on depositing 2 lakh rupees in the post office, understand the calculation
Post Office FD: This Post Office scheme offers a secure investment and the assurance of guaranteed returns. If you're planning to deposit ₹2 lakh for one year, it's important to know the return you'll receive at the current interest rate. Let's understand the full calculations below using simple calculations.
Digital Desk- (Post Office Saving Schemes) Today, Post Office schemes are giving tough competition to the big banks of the country in terms of better returns in savings schemes.
Along with the normal savings account, many safe investment schemes like TD, RD, MIS, SCSS and PPF are available in the Post Office. One of these is the TD scheme of the Post Office, which, like bank FD, returns the entire money with guaranteed interest at a fixed time.
Many post office customers open TD accounts under the name of FD in the post office. In fact, the Post Office TD scheme functions exactly like a bank FD. So, let's find out how much interest you'll earn if you deposit ₹2 lakh into the Post Office's 12-month TD scheme.
For how long are TD accounts opened in the post office?
You can open an FD account at the post office for 1 year, 2 years, 3 years, and 5 years, which is called TD (Time Deposit) in the post office.
Money invested in post office savings schemes is considered completely safe, as these schemes are directly operated by India Post and are under the control of the Government of India.
Currently, the post office is offering attractive interest rates of 6.9 percent on 1-year TD, 7.0 percent on 2-year TD, 7.1 percent on 3-year TD, and up to 7.5 percent on 5-year TD.
How much interest will be earned on investing Rs 2 lakh?
If you deposit ₹200,000 in the Post Office's 12-month TD scheme, you will receive a total of ₹214,161 upon maturity.
This includes ₹14,161 in interest. Currently, India Post offers up to 7.5 percent interest on 5-year TDs, which is higher than the FD rates of many major banks.
Gold Price: After a strong jump, gold has fallen again, now one tola will cost this much.
It's also worth noting that the Post Office TD Scheme offers the same interest rate to investors of all age groups.
However, senior citizens are offered an additional interest rate of approximately 0.50 percent compared to regular customers. Some banks offer even higher interest rates for customers over 80 years of age.