The Post Office Fixed Deposit scheme is not only safe but also offers good interest rates. Let's see how much profit can be earned in 1-5 years by investing Rs 1 lakh.
In today's era, everyone prioritizes safe and profitable investments. Post Office Fixed Deposit (FD) scheme is a popular choice as it's a great way to invest hard-earned money for a secure future.
The Post Office Fixed Deposit scheme is not only safe but also offers good interest rates. It provides investors with assured returns. Let's take a detailed look at the key features and benefits of this scheme.
The Post Office Fixed Deposit scheme is an easy investment option for any Indian citizen. You can invest in it for a period ranging from 1 year to 5 years. The minimum investment in this scheme is Rs. 1,000. There is no limit on the maximum investment.
Tax benefits can also be availed on investments made in the Post Office Fixed Deposit scheme. Tax exemption is available if you open an FD account for 5 years. This makes the scheme even more attractive.
Attractive interest rates are also offered for the investment period. Interest rates vary for investments ranging from 1 year to 5 years. Accordingly, let's see how much profit can be earned in 1-5 years by investing 1 lakh rupees.
If you invest 1 lakh for 1 year, you will get an interest rate of 6.9%. Accordingly, after 1 year you will receive a total of Rs. 1,07,081. The interest in this is Rs. 7,081. On an investment of one lakh rupees, the interest rate for 2 years is 7%. After 2 years, you will get Rs. 1,14,888, in which the interest is Rs. 14,888.
By investing one lakh rupees for 3 years, you will get 7.1% interest. After 3 years you will get Rs.1,22,022. This will include Rs. 22,022 in the form of interest. A one lakh rupee Post Office Fixed Deposit for 5 years will get an interest rate of 7.5%. After 5 years, you can get a total of Rs. 1,44,995 including interest of Rs. 44,995.
subscribe to Asianet Newsable WhatsApp channel by clicking here. For more reliable and latest news
subscribe to Asianet Newsable Telegram channel by clicking here.