look news india
Post Office FD: If you do not want to take any risk on your investment and want to earn huge profits in a short time, then there are many such schemes in the post office, which can be helpful for you. Post Office Time Deposit is also one of them. People usually call it Post Office FD.
Although you will get FD options in banks too, but if you want to get FD for 5 years, then you will get good interest in the post office. Currently, 7.5% interest is being given on 5-year FD of post office. Apart from this, you also get tax benefit under Income Tax Act 80C in 5-year FD. Let us tell you how much money you will get from interest on getting FD of ₹ 1,00,000, ₹ 2,00,000 and ₹ 3,00,000 in post office FD.
On making an FD of ₹3,00,000
If you invest Rs 3,00,000 in the post office time deposit scheme, you will get only Rs 1,34,984 at an interest rate of 7.5 percent. In this way, you will get a total of Rs 4,34,984 on maturity.
On making an FD of ₹ 2,00,000
If you invest ₹ 2,00,000 in the post office time deposit scheme, you will get ₹ 89,990 interest at the rate of 7.5 percent. In this way, you will get a total of ₹ 2,89,990 on maturity.
On making an FD of ₹ 1,00,000
₹1,00,000 is the amount that people often invest in FD. If you also invest the same amount, then according to the interest rate of 7.5 percent, you will get ₹44,995 interest. In this way, you will get a total of ₹1,44,995 on maturity.
Extension option too
If you want, you can increase your benefits by getting your post office FD extended. Post office 1 year FD can be extended within 6 months from the date of maturity, 2 year FD within 12 months from the date of maturity and 3 and 5 year FD within 18 months from the date of maturity. For this, the post office has to be informed in advance. Apart from this, while opening the account, you can also request for account extension after maturity. The interest rate applicable to the respective TD account on the date of maturity will be applicable on the extended period.
