Turn ₹1,00,000 Into ₹1.44 Lakh With This Post Office Scheme
Invest ₹1 Lakh in Post Office TD, Earn ₹44,995 Guaranteed Interest: India Post is offering better returns than many banks on fixed deposits. After the Reserve Bank of India reduced the repo rate, most banks cut their FD interest rates. However, the Post Office Time Deposit (TD) scheme still offers attractive interest rates.
Post Office TD accounts can be opened for 1, 2, 3, or 5 years. The current interest rates are:
- 6.9% for 1 year
- 7.0% for 2 years
- 7.1% for 3 years
- 7.5% for 5 years
Invest: If you invest ₹1,00,000 in a 5-year TD, you will receive ₹1,44,995 at maturity. This includes ₹44,995 as fixed interest.
Post Office schemes are backed by the central government, making them safe and secure. Unlike banks, the interest rate is the same for all age groups. In banks, senior citizens usually get 0.50% extra interest.
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