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HomeCURRENT AFFAIRSBUSINESSPost Office Scheme: Golden Earning Opportunity! Earn Potential Returns of Rs 4.50...

Post Office Scheme: Golden Earning Opportunity! Earn Potential Returns of Rs 4.50 Lakh in THIS Scheme, Check Here

Use the Post Office Time Deposit Scheme to maximise your investment's earning potential.

Post Office Scheme: The Post Office offers guaranteed returns on its Post Office Time Deposit programme, often known as the National Savings Time Deposit Account. A minimum investment of Rs 1000 and multiples of Rs 100 are required to open the account. The amount that can be invested is unlimited.

5-Year Plan Interest Rate

The 5-year plan under the initiative offers an interest rate of 7.5 percent. Under Section 80C of the Income Tax Act, you can also receive a tax exemption of up to Rs 1.50 lakh with the 5-year plan. Find out what you would receive from this post office scheme when you invest Rs 10 lakh over various time periods.

Popularity of Post Office Programs

In India, post office programmes are all the rage because they provide investors with set monthly income and, in certain situations, guaranteed returns. Many investors who choose to avoid market-linked investment schemes due to market volatility view Post Office programmes as a reliable source of income where their capital is secure. One such Post Office investment plan that is well-liked by investors looking for guaranteed returns is the Post Office Time Deposit, also known as the National Savings Time Deposit Account.

Post Office Fixed Deposit Program

The Post Office manages a fixed deposit programme where investors can make fixed investments for terms of 1, 2, 3, and 5 years. A minimum investment of Rs 1000 and multiples of Rs 100 are required to open the account. Investments can be made up to any maximum amount. Up to three adults may open a single or joint account with one adult. An account can also be opened by a guardian on behalf of a child who is older than ten.

One has the option to invest for one, two, three, or five years. As of February 5, 2024, the interest rates are 6.9 percent, 7.0 percent, 7.1 percent, and 7.5 percent, according to the most recent data. This interest rate is valid through March 31st. Every three months, interest is updated. Interest is paid annually and is computed on a quarterly basis. The 5-year plan also qualifies for tax incentives under Section 80C of the Income Tax Act.

One-Year Investment Returns

After the scheme is completed, you will receive Rs 70806 as interest and your return would be Rs 1070806 if you deposit Rs 10 lakh and earn 6.9 percent interest on it for a year. You will receive Rs 1148882 as a refund and Rs 148882 as interest if you invest Rs 10 lakh for two years and earn 7.0% interest.

You will receive Rs 12,35,075 as a total return and Rs 235075 as interest if you invest Rs 10 lakh for three years at a 7.1% interest rate. You will receive Rs 1449948 as total return and Rs 449948 as interest if you invest Rs 10 lakh for five years at a 7.5% annual percentage rate. You will also receive tax benefits from this return.

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