Post Office: Post Office is giving great interest on savings account to its customers. The interest available on some selected savings accounts in the post office is higher than the interest offered by the leading banks of the country. Today here we will tell you about the TD scheme of the post office, which is exactly like the bank FD and after a fixed time, the entire money is returned with fixed interest with guarantee. There is also a TD scheme of the post office, in which you can earn bumper interest of Rs 44,995 by depositing just Rs 1 lakh.
Heavy interest up to 7.5 percent is available in post office
FD account can be opened in the post office for a period of 1 year, 2 years, 3 years and 5 years. Let us tell you that FD accounts are opened in the post office in the name of TD (Time Deposit). Post office’s TD account is exactly like the FD account of banks, in which you get the entire money back with fixed interest on maturity. The good thing about post office savings schemes is that it is directly controlled by the central government, hence you not only get fixed interest with government guarantee but your money also remains completely safe. The post office is offering 6.9 percent interest on 1 year TD, 7.0 percent on 2 year TD, 7.1 percent on 3 year TD and 7.5 percent on 5 year TD.
On depositing Rs 1 lakh, you will get fixed interest of Rs 44,995.
If you deposit Rs 1,00,000 in the 5-year TD scheme in the post office, you will get a total of Rs 1,44,995 on maturity, which includes fixed interest of Rs 44,995. At present, no bank in the country is offering 7.5 percent interest on 5 year FD scheme. However, you have to take special care that in the post office’s TD scheme, customers of all age groups get equal interest. Whereas, in banks, senior citizens get 0.50 percent more interest than ordinary citizens. Many banks offer even higher interest rates to customers above 80 years of age.
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