Post Office – You can invest in Post Office time deposits from 1 year to 5 years. It gives different returns for different years. For example, if you invest in it for one year, you will get a return of 6.8%.
In today’s time everyone wants to become a millionaire. But due to rising inflation, very few people are able to turn this dream into reality. Because compared to inflation, most people’s salary falls short to meet their expenses. Even if he manages to save a little in some way, a big problem arises in front of him that where should he invest that money?
Today we are going to tell you about such a scheme, by investing in which you can collect a huge fund in just 5 years. You will earn so much from its interest that you will spend your old age comfortably.
Although there are many post office schemes which give you good profits in a short time, but in time deposits you get guaranteed returns. At the same time, you can also get tax benefit of up to Rs 1.5 lakh by investing in it. In this you can start investing with a minimum of Rs 1000.
This is how big profits will be made-
You can invest in post office time deposits from 1 year to 5 years. It gives different returns for different years. For example, if you invest in it for one year, you will get a return of 6.8%. Whereas on 2 year investment, 6.9% return is given and similarly on 5 year investment, 7.5% return is given. Let us tell you, in this scheme your interest is calculated every month, which you get annually.
Understand the calculation of interest here-
Suppose you have invested Rs 5 lakh in time deposit for 5 years. Now you will get interest on it at the rate of 7.5 percent. After maturity i.e. 5 years, you will get Rs 7,24,149. In which Rs 5 lakh is your investment and the rest is your interest income. In this you also get the facility to increase it once more. Meaning, if you extend it for 5 more years then you can earn Rs 10,00,799 on maturity.
