Post Office Saving Schemes: Big News! How much will you get in 5 years by depositing Rs1000, 5000 in post office, see complete calculation

Post Office Saving Schemes: The interest rates of post office saving schemes have been increasing for the last few months. In such a situation, people’s expectations have also increased. People have started calculating again. People want to know how much money they will get on maturity according to their savings. If someone is saving Rs 1000, then he wants to know how much he will get after 5 years. If someone saves ₹ 5000 per month, then he wants to know how much money he will get from Post Office RD. Some people also want to calculate for Post Office Time Deposit and NSC. To fulfill this need of the people, we have written this post.

How much will you get by investing money in post office schemes

It is not so easy to tell how much you will get by investing money in the post office scheme. And the reason for this is that there is not just one scheme running in the post office but many schemes are running. The interest rate of each scheme is different. The rules for depositing money and withdrawing money are also different in every scheme. So first of all you have to decide in which scheme of the post office you will invest money. So let us tell you one by one how much money you will get from each post office scheme and what are its special features.

How much interest will you get on depositing Rs 5000 in post office saving account?

Post office savings account works in exactly the same way as banks’ savings account works. But its interest rate is higher than the savings account interest rate of banks. Interest rate of 4% per annum is given in post office whereas the interest rate in savings account of banks is much less than this.

• If you deposit ₹ 1,000 in a post office savings account, it will become ₹ 1,217 after 5 years. This amounts to a one-time deposit of ₹1,000. But if you deposit ₹ 1000 every year and this trend continues for 5 years, then after 5 years you will have ₹ 5,633 in your account.
• If you deposit ₹ 2,000 in a post office savings account, it will become ₹ 2,433 after 5 years. Depositing ₹2,000 every year will amount to ₹11,266
• Similarly, if you deposit ₹ 5,000 in a post office savings account, it will become ₹ 6,083 more after 5 years. Whereas if you deposit ₹ 5,000 every year in this account, then after 5 years it will become ₹ 28,165.
• Interest in post office saving account is calculated every month. But interest in the account is paid at the end of the financial year. That means interest will come to your account on 31st March. Since interest is paid once a year, its compounding also happens annually.
• To calculate interest every month, it is seen what was the lowest amount in the account during the 10th and last day of that month. Whatever that amount is, interest is given on it.

How much will you get by investing Rs 1,00,000 in time deposit?

Generally, investing money in post office fixed deposits also gives good interest. You can make fixed deposit for 4 periods in the post office. Here you can make fixed deposit for 1 year, 2 years, 3 years and 5 years. The best interest is available on 5 year fixed deposit. At present, 7.5% interest is being given on 5 year fixed deposit.

• If you invest ₹1,000 in post office time deposit, you will get ₹1,450 after 5 years.
• If we deposit Rs 5,000 in this scheme, we will get Rs 7,250 after 5 years.
• If we deposit Rs 10 thousand in post office fixed deposit for 5 years, then after 5 years we will get ₹ 14,499.

How much will you get by investing ₹ 1000 in recurring deposit?

Post Office Recurring Deposit is also a scheme like time deposit. But in time deposit, you invest money once and on maturity you get both interest and money. Whereas in recurring deposit, you have to deposit money every month and on maturity you get your entire money and interest.

Recurring deposit in post office is for 5 years and here you have to deposit at least ₹ 100 every month.

At present, interest at the rate of 6.7% per annum is being given in post office recurring deposits.

In this scheme also compounding happens every 3 months but interest is paid at the end of the year.

• By investing Rs 1,000 every month in post office recurring deposit, you will get Rs 71,366 after 5 years.
• If you deposit ₹ 2,000 every month, you will get ₹ 142,732 after 5 years.
• By investing ₹ 5,000 every month in this recurring deposit, you will get ₹ 356,829 after 5 years.
• If you deposit ₹10,000 every month then after 5 years you will get ₹713,658

We have used the RD calculator to know how much you will get by depositing every month in recurring deposit. In this calculator, you can find out the maturity amount by filling the amount of your choice. In this you can also change the interest rate.

How much interest will you get by investing Rs 1000 or Rs 5000 in NSC?

NSC is a tax saving scheme of the post office. If you invest money in this scheme, you get it only after 5 years. Its interest rate is higher than both post office savings account and time deposit account. At present 7.7% interest is being given in NSC. Compounding also happens annually in NSC.

• If you deposit ₹ 1,000 in this scheme, you will get ₹ 1,449 after 5 years.
• Similarly, if you deposit ₹ 5,000 in this scheme, then after 5 years you will get ₹ 7,245.
• By doing NSC of ₹ 10,000, you will get ₹ 14,490 after 5 years.

Read this: Tax Regime Rate: Big Update! Finance Minister had made many changes in the new regime, know the tax rates of the new and old income tax regime.