Post Office Investment: The Post Office Time Deposit (TD) scheme offers a secure investment with a government guarantee and fixed returns. Let's find out how much you'll receive upon maturity if you deposit ₹5 lakh.
How much return will you get on depositing Rs 5 lakh?
Post Office FD News: If you're looking to invest your savings in a safe and secure way, the Post Office Time Deposit (TD) scheme could be a good option. While this scheme works similarly to a bank FD, it offers the benefit of investment security along with a government guarantee. You can choose a term from 1 year to 5 years, depending on your needs.
The most important feature of Post Office TD is that it offers different interest rates for different tenures. Therefore, it's important to know how much you can earn by depositing Rs 5 lakh.
How much interest is received on which period?
- 6.9% annual interest on 1 year TD
- 2-year TD at 7.0% p.a. interest
- 7.1% annual interest on 3-year TD
- 7.5% annual interest on 5-year TD
In this scheme, interest is compounded on a quarterly basis and payment is made annually.
How much return will you get on an FD of Rs 5 lakh?
If you want to deposit Rs 5 lakh in Post Office TD, then it can give different returns depending on the period.
- 1-year TD: If you invest ₹5 lakh, you can earn approximately ₹33,301 in interest. The total amount at maturity will be approximately ₹533,301.
- 3-year TD: ₹5 lakh can grow to approximately ₹617,538, with interest earnings of approximately ₹117,538.
- 5-year TD: The total amount at maturity could be around ₹724,974. This means you could earn around ₹224,974 in interest alone.
Highlights of Post Office FD
- In this, you can start investing from Rs 1,000.
- There is no maximum investment limit.
- Both single and joint accounts can be opened.
- In this, you can also get the benefit of saving tax on a 5-year TD.
