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Time Deposit: Can invest in this post office scheme for one to five years
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Compound interest is added to it so returns are higher
new Delhi. By investing at the right place at the right time, you can raise more capital in less time. In such a situation, a time deposit scheme operated by the post office can prove beneficial. In this, you will get higher returns than FD. Through this, you can become a millionaire in 5 years. It is also safe for investment. So what is this scheme and know how to invest in it.
You can open an account with 1000 rupees,
in this scheme of post office, you can invest for 1 to 5 years. If you invest 5 lakh rupees for a period of 5 years in a time deposit, then you can get a profit of around 2.25 lakh rupees. Since compound interest is added to it, it gives higher returns. In this, investors can open accounts with a minimum amount of Rs 1000.
Also Read: Good news: Here’s getting up to 7 percent return on FD, new rates apply from February 1
Benefits of the
Scheme 1. 100% investment in this scheme guarantees security. It can be opened both single and joint. To open an account in the name of the child, the guardian will have to remain as a guardian.
Scheme 2. It provides the facility to withdraw money before maturity in emergency. However, 6 months of account should be completed for this.
Scheme 3. It also has an exemption under Section 80 of the Income Tax Act 1961 on investments made for 5 years.
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