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News India Live, Digital Desk: Government Scheme: Earning money is more important than it is more important to invest it in the right place so that it grows and the future is secured. In such a situation, post office plans have always been reliable and safe for the common man. And the Post Office’s FD (Fixed Deposit) scheme, also called Time Deposit, is becoming quite popular among investors nowadays. Especially if you want to see your 5 lakh rupees almost doubled, then this scheme is for you!
So how will your ₹ 5 lakhs become ₹ 10 lakh?
The FD scheme of the post office is for different time periods: 1 year, 2 years, 3 years and 5 years. Now, Post office on 5 -year -old FD is paying 7.5% interestWhich is quite good in other safe options available in the market.
Its complete calculation will be something like this:
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Investment: ₹ 5 lakh (Rs 5,00,000)
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Duration: 5 years
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Interest Rate: 7.5% annually (interest quarterly compound is calculated)
Now there is another amazing twist here! According to the ‘calculator’ of the post office, if you repeatedly ‘re-invite’ (reinforce your investment) and continue to increase this FD (which can happen even after 5 years, if the rules continue), then it grows more rapidly than the power of compounding.
Yes, after just 5 years your investment of 5 lakhs will be ₹ 7,24,677 (calculated only on principal). But if you continue to re-invent this money and maintain it at the same interest rate for 10 years or 15 years (which often occurs in long-term investment), then Your 5 lakh rupees can become about 10,02,488 rupees in 10 yearsAnd More than Rs 20,44,834 in 15 years Can be! This is possible only when you do not remove investment, but keep it again in the same scheme.
Why is Post Office’s FD so special?
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Government Security: This is a completely government scheme, so your money is 100% safe in it. Banks do not have so much security.
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Good interest: The interest of 7.5% is great for those who want low -risk investment.
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tax benefits: On the 5 -year post office FD, you also get tax exemption under Section 80C of Income Tax (although interest is taxed).
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resilience: You can choose FD of 1, 2, 3 or 5 years according to your needs.
If you want to increase money safely and want financial security for the coming years, then this FD scheme of the post office is really a great option. So today contact your nearest post office branch and get more information about this scheme!
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