Post Office Best Scheme: You will earn 2 lakh rupees from interest only in this scheme of post office, check scheme details

The government is offering a great interest rate of 7.5 percent on investment in the Post Office Time Deposit Scheme and investors have to invest in it for 5 years.

In today’s time, everyone saves some of their income and invests it in a place where their money is safe and they get a strong return. According to this, the schemes run by the post office can prove to be a great option. One of the schemes is the Post Office Time Deposit Scheme, by investing in it, one can earn up to Rs 2 lakh only from interest.

The government is giving 7.5% interest in this scheme

Be it children, old people or young people and women, savings schemes are being run in the post office for every age group. If we talk about the Post Office Time Deposit Scheme, then it gives strong returns, safe investment as well as the benefit of tax exemption, which makes it even more popular. In this scheme, money has to be invested for five years. If we talk about interest, then the government is offering a great interest of 7.5 percent to the investors in this scheme, that is, this saving scheme is ahead in terms of giving returns as well.

This much interest on different tenures

Under the Post Office Time Deposit scheme, investors can invest for different tenures. Money can be deposited for 1 year, 2 years, 3 years and 5 years. Investing for one year gives 6.9 percent interest, while investing money for 2 or 3 years has been fixed at 7 percent. If you invest in this scheme of post office for 5 years, then investors get interest at the rate of 7.5 percent.

Calculation of earning 2 lakhs from interest

This scheme of the post office is also special because in this, investors can earn up to Rs 2 lakh from interest alone. Its calculation is very easy. Actually, if we look at the interest earnings in time deposit, if an investor has invested Rs 5 lakh in this Post Office Scheme for five years, then at the rate of 7.5 percent, he will get a return of Rs 2,24,974 on the deposit in this period and if we add it, then the total amount on maturity will increase to Rs 7,24,974. This means that you will earn more than Rs 2 lakh from interest alone.

Tax exemption is also available

In the Time Deposit scheme, the customer is also given the benefit of tax exemption under section 80C of the Income Tax Department Act 1961. Single account or joint account can be opened in this saving scheme. An account for a child above 10 years of age can be opened through his/her family member. An account can be opened with a minimum of Rs. 1,000. Interest money is added to it on an annual basis. There is no limit on maximum investment, i.e. the more money you invest, the more your interest income will increase.

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