Top News

Post Office Saving Schemes: Nowadays everyone wants to invest some part of their earnings where money is safe and good returns. For such people, Post Office Time Deposit (POTD) scheme can be called a good option. Investing in it will be safe. Apart from this, you will also get an interest of up to 7.5% on investment. The specialty of this scheme is that if you invest money in this scheme for five years, then you can earn up to Rs 2 lakh through interest. Know the complete information about the post office time deposit scheme … Post office is a fixed deposit scheme?: Children, young or old, everyone can take advantage of this post office time deposit scheme. In this, you can start investing with a minimum of Rs 1,000. You can deposit money for 1 year, 2 years, 3 years or 5 years at your convenience. But the higher the investment period, the better the interest rate on savings. How will interest be available on Rs 2 lakh?: If someone invests Rs 5 lakh for 5 years in this scheme, then he will get interest at the rate of 7.5%. That is, he will get interest of about Rs 2,24,974 in 5 years. That is, he will get more than Rs 2 lakh interest on investment of 5 lakhs. If you add your investment and interest amount, then you will get a total of Rs 7,24,974 in five years from this scheme. Interest rate as per the period: If someone invests for 1 year in this scheme, he will get interest at the rate of 6.9%. If he invests for 2 or 3 years, the interest rate will be 7%. If he invests for 5 years, he will get maximum returns. That is, he can get the benefit of interest rate of 7.5%. The benefit of tax exemption: Another good thing of this scheme is that you get tax exemption on investing in it. Under Section 80C of Income Tax, you can get tax exemption up to the amount invested. That is, you can save tax by investing in this scheme. Thus, you can increase your money.