Golden opportunity to earn 15 lakhs by investing 5 lakhs; Check THIS Post Office scheme

Every parent's dream is to raise their children well. Fulfill all their wishes. Plan for their future, how their child becomes financially strong, then he does not need to depend on anyone due to lack of money. Parents make some savings every day to save their children's future. So, as soon as the child is born, parents start doing all kinds of financial planning

As soon as the child is born, some parents start investing in many schemes like PPF, RD, Sukanya. Apart from this, some people plan to deposit a fixed amount i.e. lump sum to meet the future needs of the child. Today we are informing you about a scheme of the post office which gives higher returns in less time. Under this scheme, from five lakh rupees, you can earn up to 15 lakh rupees. This scheme of the post office has surprised you. This scheme has received a great response from the general public

Invest money in Post Office Time Deposit Scheme

If you want to invest a lump sum, Post Office Term Deposit i.e. Post Office FD is a good option for you. In this scheme of the post office, good returns are obtained on 5 year FD. It offers better interest than banks. Through this scheme, if you wish, you can multiply the amount more than three times, i.e. if you invest Rs.5,00,000, you can get 15,00,000 in 180 months. Learn how this scheme works

5 lakhs can be made into 15 lakhs

There is nothing to make 5 lakhs into 15 lakhs. Rs.5 lakh has to be deposited in Post Office FD for 5 years. Post office offers 7.5 percent interest rate for 5 year FD. After 5 years, the maturity amount will increase to Rs.7,24,974. But this amount does not have to be withdrawn. Rather, it has to be deposited again for the next 5 years. This way, in 10 years, you will get Rs. 5,51,175 from the interest on 5 lakhs, and your amount will become Rs.10,51,175

Similarly, it has to be fixed again for 5 years once, i.e. it has to be fixed twice for 5 years each, thus your amount will be deposited for a total of 15 years. On maturity in the 15th year, you will get Rs 10,24,149 from interest and a total of Rs 15,24,149 on an investment of Rs 5 lakh. In simple language, to convert Rs.5 lakh into Rs.15 lakh, you have to increase the post office FD twice. There are some rules that you need to understand

Post Office TD Interest Rates

Just like banks, you have the option of FD for different tenures in post offices as well. Different interest rates are offered for each tenure. The current interest rates in the post office are as follows:
One year account 6.9% annual interest
Two year account 7.0% annual interest
Three year account 7.1% annual interest
Five year account 7.5% annual interest.