Post Office New Scheme : Investing in this Post Office FD scheme will bring you significant returns. If you’re considering putting your money in a bank for good returns, this scheme is definitely worth looking into.
To start an account at the post office under this plan, you just need to invest ₹ 1000. Once you do that, you can easily create your FD. With this scheme, you can enjoy interest rates between 6.90 percent and 7.50 percent.
If you’re looking for a secure place to invest your money, consider putting it into this Post Office Yojana scheme. Post Office New Scheme
You need to have knowledge about the money before you invest it. It’s important to know this information, as well as how much interest you can earn from investing for 1 to 5 years.
What is the Post Office New Scheme ?
The Post Office’s program offers citizens a higher annual interest rate on their investments compared to other banks. Post Office New Scheme
If you’ve opened an account at the Post Office and are looking to grow your savings, you can earn interest between 6.90 percent and 7.50 percent.
And let’s discuss the State Bank of India, where you can earn a 6.50 percent annual interest rate by making a 5-year fixed deposit. On the other hand, if you choose to invest your money in the post office for 5 years, you can enjoy a higher annual interest rate of 7.50 percent.
How much interest will you get in the Post Office New Scheme ?
At the post office, you have the option to invest your money for different durations ranging from 1 to 5 years. If you choose to make a fixed deposit for 1 year, you will receive an annual interest rate of 6.90 percent. On the other hand, if you opt for a fixed deposit of 2 years, you will earn an annual interest rate of 7.0 percent.
You’ll receive an annual interest rate of 7.10 percent on a 3-year fixed deposit, while a 5-year fixed deposit will earn you 7.50 percent annual interest. Post Office New Scheme
What is the amount of interest you will earn on an investment of Rs 2 lakh ?
In order to open a Fixed Deposit in any bank, individuals need to invest a certain amount of money. For instance, if someone invests ₹200,000 in a Post Office scheme for 5 years, they will receive an interest rate of 7.50%.
After 5 years, the individual will receive a total of Rs 2,89,990, which includes both the principal amount and the interest. Out of this, Rs 89,990 will be the interest earned, while Rs 2 lakh will be the principal amount.
If you invest Rs 2,29,776 for 1 year at a rate of 7.10%, you will receive Rs 2,14,161. On the other hand, if you invest for 3 years, you will get Rs 2,47,015.
Key details regarding account opening
In order to start a post office FD, you need to have an account at the post office. To do this, simply visit your nearest post office and open an account there.
Additionally, the account holder must be over 18 years old and all required documents must be provided when opening the account.
You need to provide documents like Aadhar Card, PAN Card, Voter ID, Mobile Number, etc. to open an account at the post office with just ₹1000. Additionally, the post office officials can provide you with more information.