This is the reason why investors are now turning towards post offices more than banks.
For what period is post office FD account opened?
The post office gives the option to open time deposits for 1 year, 2 years, 3 years and 5 years.
-
Interest on 1 year 6.9%
-
Interest on 2 years 7.0%
-
Interest on 3 years 7.1%
-
Interest on 5 years 7.5%
Let us tell you that a minimum of Rs 1000 can be deposited in this scheme and there is no maximum limit.
How much return will you get on depositing Rs 1 lakh in wife’s name?
If you invest Rs 1,00,000 in a 2-year FD in the post office in your wife’s name, the maturity amount after 24 months will be Rs 1,14,888In this, apart from the principal amount of Rs 1,00,000, the interest amount will be Rs 14,888,
An investor said, ‘Compared to banks, money in post office TD is safe and returns are also higher. In such a situation, there is no question of taking risk.
Bank vs Post Office: Which has more benefits?
Meanwhile, FD rates of banks are continuously decreasing, due to which the profits of customers have reduced. However, the post office has not yet made any change in its interest rates. Now everyone’s eyes are on whether the post office will also reduce the interest rates in the coming time or will continue to provide similar benefits to the customers.