Post Office Investment If you are also keen to make investments your financial savings, then this information is useful for you. Often folks like to make such investments where the possibilities of losses are much less and cash is also secure. for such buyers Post Office Investment Would be the most suitable choice. In this, the cash of the clients stays secure and there is no loss of any type. of publish workplace Post Office Term Deposit Scheme Investing in is very easy. Apart from the financial institution, you can also avail Fixed Deposit or Term Deposit at the publish workplace. Where the cash with you is more secure and assured offers better returns as in contrast to the financial institution.
(*10*)Post Office Investment
Post Office Term Deposit Scheme You can double your cash through small financial savings. This is a scheme in which you can open time period deposits or FDs ranging from 1 to 5 years. This is one of the Small Savings Schemes. For your info, allow us to inform you that investing in this time period deposit coverage of the publish workplace for 5 years offers 6.7% curiosity yearly.
You can perceive this in such a approach that if you make a time period deposit whose maturity period is 5 years. You have opened this account by depositing this time period deposit of Rs.1 lakh. After this, you will get Rs 139407 as return according to the rate of interest of TD after 5 years. If we discuss about the rate of interest available on time period deposits of 1 year, 2 years and 3 years, then you will get it at the price of 5.5 p.c. Let us inform you that there has been no change in rates of interest from January to March 2022 quarter. Which means that curiosity is being obtained in the quarter of October-December 2021, the same will proceed this quarter as well.
Facilities available in Post Office Term Deposit
You also get many amenities by opening a publish workplace time period deposit account, which you can use as per your requirement –
- Post workplace one, time period deposit one.
- nomination service
- Facility to switch account from publish workplace to another
- Account extension facility
- Facility to convert single account to joint or joint account to single
- Online account opening facility through intra-operable netbanking/mobile banking
(*3*)Know who can make investments here
If you are keen to open your account under this scheme in the publish workplace, then you get two choices. You can open it as a single or joint account also. Any buyer above the age of 10 years can open an account under this scheme. Also, if somebody is mentally weak, then that particular person can also open an account in it. Under the Income Tax Act, tax exemption under section 80C is given to an individual investing in a publish workplace time period deposit of 5 years.
Let us inform you that in the publish workplace TD, you can start with as little as Rs 1000. There is no most investment limit. After the completion of 6 months of this scheme, you can shut it according to the need. If you shut the TD after 6 months and until the completion of 12 months, then you will get the quantity at the price of curiosity of the Post Office Saving Scheme and not the time period deposit.