Post Office FD Calculator : If you want your savings to be not only safe but also get good interest on it, then Post Office Fixed Deposit Scheme is the best option for you. Being backed by the government, this investment method is considered completely safe. Also, the interest received in this is also more than many banks.
Post Office FD Calculator
Today we will tell you that if you do FD ( Fixed Deposit ) of Rs 2 lakh in the post office, then how much fixed return will you get in 5 years and how it is better than other schemes.
What is the Post Office Fixed Deposit?
Post Office FD is called Time Deposit Scheme, in which you can invest a lump sum amount for 1, 2, 3 or 5 years. In this, the interest is compounded every quarter and on maturity you get the entire amount together. This Fixed Deposit is considered especially beneficial for small investors because it can be started with a minimum of ₹ 1000.
How Much Interest Do You Get on a 5-Year Post Office FD?
The most special thing about Post Office FD is that you get 7.5% annual interest rate for a period of 5 years. This interest rate comes with government guarantee and it is reviewed by the government at regular intervals. This Fixed Deposit interest rate is considered better than other banks.
Post Office Fixed Deposit Calculator : Invest ₹2 Lakh and Get ₹89,990 Interest
If you make FD of ₹ 2 lakh in post office for 5 years, then according to 7.5% interest you will get:
Total investment – ₹ 2,00,000
Total interest – ₹ 89,990
Maturity amount – ₹ 2,89,990
That is, your Fixed Deposit money will be completely safe and after 5 years you will get a guaranteed benefit of about ₹ 88,000.
Post Office Time Deposit Offers Tax Benefit
By investing in Post Office FD for a period of 5 years, you can also avail tax exemption under Section 80C of the Income Tax Act. This scheme can be opened in both single and joint accounts. Apart from this, it can be transferred from any post office.
How to Apply for Post Office Fixed Deposit Online
For post office FD ( Fixed Deposit ), you can go to your nearest post office and fill the form or you can also start investing online through IPPB mobile app. For this, Aadhar card, PAN card and post office savings account are required.
If you want 100% safe and stable returns, then the post office FD scheme is a great option for you. By doing an FD of ₹ 2 lakh, you get a guaranteed benefit of ₹ 88,000 in 5 years and your money remains completely under government protection. This Fixed Deposit is very beneficial for small investors and senior citizens.
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