A lump sum amount is deposited in the TD account, on which you get a huge interest. You can open a TD account in the post office for 1 year, 2 years, 3 years and 5 years. The post office is offering interest of 6.9 percent, 7.0 percent, 7.1 percent and 7.5 percent respectively on these different periods of TD accounts.
Post Office Saving Schemes: Savings accounts like savings accounts, FD accounts, RD accounts are opened not only in banks but also in post offices. You will be surprised to know that the post office is offering more interest to its customers than banks. Today we are going to tell you about such a scheme of post office, where you will not only get more interest than banks, but your money will also get full security of the government in this scheme. Here we are talking about the time deposit (TD) of the post office.
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TD account can be opened for 1 year to 5 years
The TD scheme of the post office is exactly like the FD of banks. A lump sum amount is deposited in the TD account, on which you get tremendous interest. In the post office, you can open a TD account for 1 year, 2 years, 3 years and 5 years. The post office is offering interest rates of 6.9 percent, 7.0 percent, 7.1 percent and 7.5 percent respectively on these TD accounts of different tenures. The post office is offering the highest interest rate of 7.5 percent on 5-year TD. The TD account can be opened with just Rs 1000, while there is no maximum deposit limit in it. That is, you can deposit as much money as you want in it.
If you deposit Rs 5 lakh, you will get interest of Rs 2.25 lakh on maturity
If you deposit Rs 5 lakh in the TD scheme of the post office, then on maturity you get a total of Rs 7,24,974. This includes the net and fixed interest of Rs 2,24,974 along with the Rs 5,00,000 deposited by you. Let us tell you that your money is completely safe in the TD scheme of the post office. The post office works under the Ministry of Communications of the Government of India. Therefore, every penny you deposit in the post office is completely safe.
