Post Office Time Deposit: Bank will get more interest than FD, 7.25 lakh on 5 lakh investment

new Delhi. Post office schemes have always been considered reliable in terms of investment. Due to this, most people invest in it. Post Office Schemes has been removed from the post office. Whose name is Post Office Time Deposit. In this, you get more interest than bank FD. You can invest in it for 1 year, 2 years, 3 years and 5 years.

2.25 lakhs advantage over 5 lakhs
If you invest 5 lakh rupees for a period of 5 years in a time deposit, then you will get a profit of around 2.25 lakh rupees. In this, you will get interest at compounding rate of 7.7% per annum. In this case, the amount on maturity increased to Rs 7,24,517. Will happen. On the other hand, if you take this plan for 3 years, then the maturity amount will be 6.10 lakhs and on a 2-year deposit, Rs 5,71,381, while on 1-year deposit, the maturity amount will be Rs 5,34,500.

Important things related to the plan
In this scheme of the house, you get 100% investment guarantee.
– Time deposit can be opened with a minimum of 1000 rupees. There is no limit to the maximum amount.
– These accounts can be opened both single and joint. If an account is to be opened in the name of a minor, the guardian can join it as a guardian.
—Time deposits allow an investor to withdraw his fund in emergency before maturity. However, for this, the first deposit in the account should be completed for 6 months.
– Investments made for 5 years in the scheme are also exempt under Section 80C of the Income Tax Act 1961.