Invest Rs 3,00,000 and get interest of Rs 1,34,984, know how

Post Office FD Scheme: If you do not want to take any risk regarding 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 make FD for 5 years then you will get good interest in 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 making 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, then at the rate of 7.5 percent interest, you will get only Rs 1,34,984 as interest. In this way, you will get a total of Rs 4,34,984 on maturity.

On making an FD of ₹2,00,000

On the other hand, if you invest Rs 2,00,000 in the Post Office Time Deposit Scheme, you will get Rs 89,990 as interest at the rate of 7.5 percent. In this way, you will get a total of Rs 2,89,990 on maturity.

On making an FD of ₹1,00,000

₹1,00,000 is an amount that people often invest in FD. If you also invest the same amount, then at an interest rate of 7.5 percent, you will get ₹44,995 as 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 the Post Office FD extended. To extend the 1-year Post Office FD, the Post Office has to be informed within 6 months from the date of maturity, 2-year FD within 12 months of the maturity period and 3 and 5-year FDs have to be extended within 18 months of the maturity period. Apart from this, you can also request for account extension after maturity at the time of opening the account. The interest rate applicable to the respective TD account on the day of maturity will be applicable for the extended period.