If you diposit ₹1,00,000 in post office, you will get fixed interest ₹44,995, Know all the details
Deposit ₹1,00,000 in the post office and get a fixed interest of ₹44,995: With rising inflation and falling bank interest rates, post office savings schemes are becoming a popular choice for investors. After the RBI cut the repo rate, many banks reduced fixed deposit rates, making post office schemes more attractive.
Post office fixed deposits are known as Time Deposits (TD). They work like bank FDs but offer a central government guarantee, ensuring complete safety of the invested amount.
Investors can open TD accounts for 1, 2, 3, or 5 years. Currently, the post office offers interest rates of 6.9% for 1 year, 7.0% for 2 years, 7.1% for 3 years, and 7.5% for 5 years, making it a reliable option for better returns.
Fixed Return of ₹44,995:
If an investor deposits ₹1,00,000 in the 5-year TD scheme, they receive a total of ₹1,44,995 upon maturity. This means a fixed interest of ₹44,995. Currently, no major bank in the country is offering such a high interest rate on a 5-year FD. This is why this post office scheme is rapidly gaining popularity among investors.
Equal Interest for All Investors:
Another important aspect of the post office TD scheme is that all age groups of investors receive the same interest rate. However, unlike banks, it does not offer the benefit of extra interest for senior citizens. Despite this, the government guarantee and stable returns make it an excellent option for those seeking a secure investment.
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