Post Office Time Deposit: Although you will get the option of FD in the bank also, but if you want to get FD for 5 years, then you will get good interest in the post office. Know how much money will be earned from interest on making FD of ₹ 1,00,000, ₹ 2,00,000 and ₹ 3,00,000.
Post Office FD: If you do not want to take any risk on your investment and want to earn huge profits in a short time, then there are many such schemes in the post office, which can be helpful for you. Post Office Time Deposit is also one of these. People usually call it post office FD.
Although you will get FD options in banks also, but if you want to get FD for 5 years, then you will get good interest in post office. At present, interest is available at the rate of 7.5% on 5 year FD of Post Office. Apart from this, you also get tax benefit under Income Tax Act 80C in 5 year FD. Let us tell you how much money will be earned from interest on making FD of ₹ 1,00,000, ₹ 2,00,000 and ₹ 3,00,000 in post office FD.
On making FD of ₹3,00,000
If you invest ₹ 3,00,000 in the time deposit scheme of the post office, then you will get ₹ 1,34,984 only from interest at the interest rate of 7.5 percent. In this case, you will get a total of ₹ 4,34,984 on maturity.
On making FD of ₹ 2,00,000
Whereas if you invest ₹ 2,00,000 in the time deposit scheme of the post office, then you will get ₹ 89,990 interest at the interest rate of 7.5 percent. In this case, you will get a total of ₹ 2,89,990 on maturity.
On making FD of ₹ 1,00,000
₹1,00,000 is the amount that people often invest in FD. If you also invest the same amount, then at 7.5 percent interest rate you will get ₹ 44,995 in interest. In this case, you will get a total of ₹ 1,44,995 on maturity.
Extension option also
If you want, you can further increase your benefits by getting your post office FD extended. Post Office 1 year FD can be extended within 6 months from the maturity date, 2 year FD within 12 months of the maturity period and 3 and 5 year FDs can be extended within 18 months of the maturity period. The post office will have to be informed within. Apart from this, while opening the account, you can also request for account extension after maturity. The interest rate applicable to the concerned TD account on the date of maturity will be applicable on the extended period.
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