Post Office Scheme: All banks in the country provide a variety of savings and investment schemes to their customers. Banks are providing tremendous interest to their consumers through various schemes. However, when it comes to providing a high level of interest to consumers, the post office competes with all institutions. Let us inform you that the post office is run by the Government of India. As a result, any money you invest in a post office plan is absolutely safe. Today, we’ll tell you about one such post office idea that is generating a lot of attention.
Scheme : A post office TD account can be created with only Rs 1000.
There is no difference between a bank’s Fixed Deposit (FD) program and the Post Office’s Time Deposit (TD). You have one to five years to open a TD account at the post office. TD account holders can take advantage of interest rates between 6.9 and 7.5 percent. There are TDs available at the post office that are one, two, three, or five years. With no maximum deposit and a minimum deposit of Rs 1000, you can open a TD account with the post office TD.
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You can get a fixed interest rate of ₹29,776 by depositing ₹2,00,000.
The post office is giving 7.0 percent interest on a two-year term deposit. If you deposit Rs 2 lakh in the 2-year TD program, you will receive a total of Rs 2,29,776, including Rs 29,776 in interest at maturity. Let us tell you that the post office TD scheme provides consumers with set and guaranteed interest with no risk. Anyone can create an account in the post office TD system. This allows you to open a single or joint account. A joint account can contain the names of up to three people.
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