Post Office Savings Plan: Invest ₹2,00,000 and Earn a Fixed Interest of ₹29,776 – Check Full Details Here
Post Office Time Deposit: Earn Guaranteed Returns with a Safe Investment Option
Just like banks offer Fixed Deposit (FD) accounts for their customers, the Post Office also provides a similar investment option called a Time Deposit (TD) account. A Post Office TD works just like a bank FD, offering fixed returns over a set period.
Post Office Savings & Investment Schemes
The Post Office not only provides postal services but also offers a range of financial services, including savings and investment schemes. Customers can open accounts in savings plans like Recurring Deposits (RD), Fixed Deposits (FD), and Time Deposits (TD). These schemes often provide better interest rates than banks, ensuring both safety and attractive returns. One such scheme allows investors to earn a fixed interest of ₹29,776 on a deposit of ₹2 lakh.
Post Office TD: Earn 7% Interest on a 2-Year Deposit
The Post Office offers TD accounts for different durations—1 year, 2 years, 3 years, and 5 years. Currently, interest rates on TD accounts range from 6.9% to 7.5%, depending on the tenure. The 2-year TD scheme offers a 7.0% interest rate, making it a secure and rewarding investment option.
Investment Example: ₹2 Lakh Deposit Returns ₹2,29,776 on Maturity
Any Indian citizen can open a TD account at the Post Office. The minimum deposit required is ₹1,000, while there is no upper limit on investment. If you invest ₹2 lakh in a 2-year TD, you will receive a total amount of ₹2,29,776 upon maturity—earning a fixed return of ₹29,776.
How to Open a TD Account?
To open a Post Office TD account, you must have an active savings account with the Post Office. Once your TD account is opened, you will get complete details about the maturity amount and interest earnings.
This government-backed scheme ensures the safety of your investment while offering competitive returns. If you are looking for a risk-free savings option with guaranteed interest, a Post Office TD could be an excellent choice.
