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Monday, October 25, 2021

Invest in Post Office Time Deposit Scheme, double in few months

-Post Office Time Deposit Scheme: If you invest at the right time and place, then in a few months you can make a big amount. 

There are many schemes of Post Office Schemes, where you can get good returns on investment.
-The best thing about post office plans is that your investment here is completely safe.
Here you will get better returns with money safe.

Post Office Time Deposit Scheme: If you invest at the right time and place, then in a few months you can make a big amount. There are many schemes of Post Office Schemes, where you can get good returns on investment. The best thing about post office plans is that your investment here is completely safe.

Here you will get better returns with money safe. Post Office TD scheme is also a great option for you. Here you also get more interest from SBI Bank. In this scheme, you can invest for 1 year, 2 years, 3 years and 5 years.

Good news for bank customers, the full money will be refunded after January 1

Bank interest
While SBI Bank is getting 5.7 per cent interest annually on FD, in post office time deposits you will get 6.7 percent interest on 5 years deposit. In such a situation, investing in this scheme can prove beneficial for you.

High interest on 5 years investment
If you invest for one to three years in a post office time deposit, you will get interest at 5.5%. At the same time, if you invest for 5 years, then you will get interest at the rate of 6.7 percent. In this case, if you get interest at the rate of 6.7 percent, then your money will double in 10.74 years i.e. 129 months. Whereas, SBI takes 12.63 years i.e. about 152 months at an interest of 5.7% per annum.

Bank Holidays in September 2020: Government banks like SBI, PNB, UBI will remain so closed

Tax exemption
In this scheme, any single person can open their account. Apart from this, 3 adult accounts can also open a joint account. At the same time, parents account can be opened in the name of children above 10 years of age. This scheme provides the benefit of tax exemption under section 80C of the Income Tax Act 1961. Apart from this, there is a penalty on premature withdrawal. There is also the facility of nomination while opening an account.

 

Source: www.patrika.com

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