Post Office Scheme: If you want to earn more profit by investing in post office FD, then you can invest your money in 5-year tenure FD of post office. You will get higher interest rate in this 5-year FD. Along with this, you will also get tax benefit.
Post Office Scheme: Many types of schemes are being run by the post office, in which you can get very good profit by investing your money. Many separate schemes are being run for senior citizens in the post office. In such a situation, senior citizens can also invest in the post office scheme. Talking about the most common scheme of the post office, it is Fixed Deposit i.e. FD. Any citizen can invest his money in FD. In this, you will get the option of FD with different tenures.
If you want to earn more profit by investing in post office FD, then you can invest your money in 5-year tenure FD of post office. You will get higher interest rate in this 5-year FD. Along with this, you will also get tax benefit.
5-year FD will give more than 2 lakh profit
If you invest Rs 5 lakh in a 5-year FD in the post office, then you will get interest at the rate of 7.5 percent per annum. In this case, in five years you will get interest of Rs 2,24,974 on Rs 5 lakh, that is, when the FD matures, you will get a full Rs 7,24,974. Not only this, you will also get tax benefits under section 80C.
Breaking FD before time will cause loss
If you want to get good profit, then do not break this FD before the completion of its tenure. If you break the FD 6 months after its commencement or before the completion of 1 year, then you will get interest according to the interest rate applicable on savings account, which is only 4 percent.
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