Post Office Time Deposit Scheme: Post Office FD is a great alternative to consider if you believe in safe investments and would like to include them in your portfolio. For one, two, three, or five years, post office FD is ran. There is a lot of interest in this. Find out how much you would receive back in 1, 2, 3, and 5 years if you put ₹1,00,000 in a post office savings account.
Interest Rates for Different Tenures
6.9% interest is paid on a one-year post office fixed deposit account. On the other hand, interest rates are 7.0% for a two-year FD, 7.1% for a three-year FD, and 7.5% for a five-year FD. In addition to receiving competitive interest rates, investing in FD for five years also provides tax advantages. As a result, 5 year FD is known as tax-free FD. At a rate of 7.5 percent, you will receive a total of Rs 44,995 over the course of five years. In this manner, you will receive a total of Rs 1,44,995 as maturity amount after 5 years.
Maturity Amount For Different Years
You will receive interest at the rate of 7.1 percent if you invest in post office FD for a period of three years. In this instance, you will receive interest totaling Rs 23,508 and Rs 1,23,508 upon maturity. You will receive interest at a rate of seven percent if you deposit money for a period of two years. In this instance, you will receive Rs 14,888 in total.
In this manner, you will receive a total of Rs 1,14,888 after two years. You would receive Rs 7,081 in interest at a 6.9 percent rate if you invest money in a post office fixed deposit (FD) for a year. In this manner, you will receive a total of Rs 1,07,081 after a year.
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