Post Office Schemes: How much will you earn on investing Rs 4 lakh in Post Office FD, understand the calculation before investing money..

Post Office Saving Schemes: After the Reserve Bank of India (RBI) cut the repo rate, most banks have reduced their fixed deposit (FD) interest rates. However, in contrast, post office FDs are still getting attractive interest as before. This is a great option for investors who want high returns on their savings, especially at a time when interest rates on bank FDs have come down.

Let us tell you that FD in a post office is known as TD, i.e., Time Deposit. TD is just like FD, in which you deposit a lump sum amount, and after maturity at a fixed period, you get a fixed amount.

How much money can be deposited in the TD Account of the Post Office?
In a post office, you can make a time deposit for only four periods: 1 year, 2 years, 3 years, and 5 years. The interest rates on these are as follows: 6.9% for 1 year, 7.0% for 2 years, 7.1% for 3 years, and 7.5% for 5 years.

A minimum of Rs 1,000 can be deposited in a TD account, while there is no limit on the maximum amount that can be deposited. That is, you can deposit as much money as you want in it. The post office gives the same interest to all its customers. Women, men, and senior citizens all have the same interest in the post office.

How much money will you get if you deposit Rs 4 lakh in a 12-month TD?
If you deposit four lakhs in a 1-year time deposit (TD) of the post office, you will get approximately ₹4,27,600 on maturity at an annual interest rate of 6.9 percent. This calculation is based on simple interest.

According to this, if you deposit Rs 4 lakh in a 12-month TD, you will get a total of Rs 4,28,322 on maturity at the rate of 6.9 percent, which includes interest of Rs 28,322. Keep in mind that to open a TD account in the post office, you must have a savings account in the post office itself.

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