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Post Office Term Deposit Scheme Invest 5 Lakh Rupees For 5 Years To Get 6.97 Rupees Return

Post Office Term Deposit Scheme: Due to the Corona Pandemic...

Post Office Term Deposit Scheme: Due to the Corona Pandemic and the Russo-Ukraine War, the market risk continues to be in turmoil. There is a tremendous decline in the market. In such a situation, people are nowadays looking for Safe Investment Tips. After the increase in the Reserve Bank’s Repo Rate Hike, most of the big government and private banks have increased the interest rate in their FD and Savings Account, but still people do not get that much return. finds. In such a situation, the best and safest option for investment is the post office.

Post Office FD scheme which is known as Post Office Term Deposit Scheme helps in giving better returns to the customers. You can invest in this scheme for different tenures up to 1, 2, 3 and 5 years. Different higher interest rates are offered to you on all this tenure. So let us tell you about this scheme-

This interest rate is available on the post office term deposit scheme (Post Office TD)-

  • Duration of 1 year- 5.5%
  • Duration of 2 years – 5.5%
  • Duration of 3 years- 5.5%
  • 5 years duration – 6.7%

Eligibility for Post Office TD-
You must be at least 18 years of age to invest in the scheme, but children above the age of 10 years can open an account under the supervision of a guardian. You have to open this account with minimum investment of Rs 1,000 and there is no maximum investment limit.

Tax exemption is a big benefit
On investing, you get the benefit of exemption under Section 80C of Income Tax. In such a situation, you get tax exemption on investment of Rs 1.5 lakh under this scheme. With this, you can open more than one term deposit account. After opening the account under this scheme, you cannot withdraw money for at least 6 months. After this, 2 percent of the total deposit amount is deducted on withdrawal of money before 1 year.

You will get this much return on investment of 5 lakhs
If you invest Rs 5 lakh in a 5 year post office scheme, then you will get a return of 6.7 percent. This return will be added on quarterly basis and you will get a return of 6.97 i.e. Rs 7 lakh after 5 years on investment of Rs.

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