How Much Will Rs 1 Lakh in Post Office FD in Wife's Name Earn in 2 Years?

Even today, many people in India invest in their wife's name. While this is done to save on taxes, let's see what other benefits it offers...

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FD interest in wife’s name

The post office offers great interest rates on various savings schemes. Apart from simple savings accounts, many types of accounts like TD (FD), MIS, RD, Kisan Vikas Patra can be opened in the post office. But today let's learn about the post office's TD scheme. This is similar to the FD scheme of banks.

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Time Deposit

Simply put, the post office has named FD as TD, which means Time Deposit. Like FD, the post office TD also matures after a fixed period, and after maturity, the customer gets back the entire money with fixed interest.

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Registration fee and stamp duty

Today, there is a large segment of people in India who invest in their wife's name. From buying property to investing in savings schemes, people choose their wives. Similarly, people buy property in their wife's name to get exemption in registration fee and stamp duty. In this way, people invest in various schemes in their wife's name to save tax. By the way, FDs can be made in the post office for 1 to 5 years.

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Fixed Deposit

FDs can be made in the post office for a period of 1 to 5 years. The post office is offering 6.9 percent interest on 1 year FD, 7.0 percent on 2 year FD, 7.1 percent on 3 year FD and 7.5 percent on 5 year FD.

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Amount after maturity

The post office offers the same interest on FD accounts to all its customers, general citizens and senior citizen women. If you deposit Rs 100000 in your wife's name in the post office as FD for 2 years i.e. 24 months, after maturity a total of Rs 113900 will come to your wife's account.

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Fixed interest

This includes a fixed interest of Rs 7185 along with the Rs 1,00,000 you have deposited. To get FD in the post office in the name of the wife, it is necessary for your wife to have a savings account in the post office.