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Post Office FD Scheme: If you deposit money in Post Office FD for 10 years, your amount can more than double. At present, interest is available at the rate of 7.5 percent on 5 year FD.
If you are looking for an investment option where your money remains safe and you also get better profits, then FD has always been a good option for this. FD means Fixed Deposit, you will get this option in all banks. But if you want, this time you can try post office FD instead of bank.
Post Office FD is called Post Office Time Deposit. In the post office you get the option of FD for 1, 2, 3 and 5 years. If you deposit money in this for 10 years, your amount can more than double. At present, interest is available at the rate of 7.5 percent on 5 year FD.
Know how to earn twice as much money
At present, interest is available on post office FD at the rate of 7.5 percent. Suppose you deposit Rs 5 lakh in the post office, then you will get interest of Rs 2,24,974 lakh on it at the rate of 7.5 percent. In this way, your amount will become Rs 7,24,974 in 5 years. Now if you deposit it again for 5 years, this amount will mature to Rs 10,51,175, which is more than double.
Interest on FD of one to five years
If fixed for 1 year – 6.9%
Fixed for 2 years – 7.0% if
Fixed for 3 years – 7.0% if
Fixed for 5 years – 7.5%
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