Post Office FD Scheme is the most popular among the important and saving schemes implemented by the Post Office Department so far because this scheme is an excellent option to save for people of normal income. A variety of facilities have also been added for investors in the Post Office FD Scheme.
Let us tell you that this scheme has been run by the department for the last many years, under which lakhs of people are saving their savings here and are able to use it in their future work with good refund returns as per the time.
Much higher government interest has also been applied in Post Office FD Scheme as compared to other savings schemes which is the main point of attraction of this scheme. Therefore, we explain for you the complete information about Post Office FD Scheme in a very simple way.
Post Office FD Scheme
Post Office FD Scheme is the only scheme under which investors can save for any period as per their wish from one year to 5 years. Let us tell you that different interest rates and different returns have been arranged for all these time periods.
To save, a minimum deposit of ₹ 1000 is required in this scheme. Apart from this, people with high income can get their FD prepared on the basis of any amount of deposit. A good account at the government level can get this return with interest. Can. This scheme is the best and tax free scheme of the post office.
Features of Post Office FD Scheme
- Under the Post Office FD Scheme, interest rate has been implemented at a higher level, due to which investors can get higher benefits.
- Investors can invest from 1 to 5 years as per their wish.
- A minimum amount of ₹ 1000 can be invested in this scheme, that is, it is not necessary for the applicant to have a high income.
- No government tax has been imposed under the Post Office FD Scheme.
Post office FD scheme information
The full name of Post Office FD Scheme is Fixed Deposit Scheme which has come into existence after the year 2018. The main aim of this scheme is to secure the savings of the people, under which any person can join the FD scheme by going to his nearest postal department and can create a good fund by investing based on his circumstances.
Interest rate as per tenure in Post Office Scheme
The interest rates applied under the Post Office Scheme according to the investment period of the applicant are as follows.-
- If investors invest ₹ 100000 for 1 year, then they will get Rs 1,07,081 as return based on interest rate up to 6.9%.
- Apart from this, if the investor invests ₹ 100000 for 2 years then he will get the benefit of 7% interest rate on the basis of which he will get an amount of ₹ 1,14,888 on the completion of the tenure.
- By investing Rs 1 lakh for 3 years, the investor will get 7.1% interest rate, after which he will be given Rs 1,22,022 on the basis of returns.
- If an investor invests ₹100000 for 5 years then he will get 7.5% interest rate pen under which he will get a return of ₹1,44,995 after 5 years.
Objective of Post Office FD Scheme
The FD scheme run by the post office is mainly implemented with the aim of providing good returns in the form of savings to its customers.
For those people who want to save their limited income safely for the future, Post Office FD Scheme is the best option which provides returns based on the interest rate as per the investment period.
How to open an account in Post Office FD Scheme?
- To open an account in Post Office FD Scheme, visit the nearest post office department.
- Here you will have to get adequate information about the FD scheme.
- After getting the information, the FD scheme form will have to be obtained from the employees.
- Enter the complete details asked in the form received and attach important documents with it.
- Now check the complete information once and submit the form at the counter.
- After this your account will be opened in the FD scheme, after which you can invest for a fixed period.
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