Post Office Scheme: Every bank in the country offers a range of saving and investment programs for their patrons. Many banks are offering high rates of interest to their customers. However, the post office is giving the banks tough competition in terms of interest rate offered to depositors. The post office competes with banks because it is owned by the Government of India. Therefore, your money put in any scheme under the post office is absolutely secure. Today we tell you one of the post office schemes which offers fabulous interest.

The minimum investment to open a Post Office TD Account is Rs 1000

The Time Deposit (TD) scheme from the Post Office is precisely the same as the Fixed Deposit (FD) scheme of the bank. You can open a post office TD account from a period of 1 year to a maximum of 5 years. The post office is currently offering interest rates between 6.9 percent to 7.5 percent to its customers on TD account. It is worth noting that the Post Office allows TD for 1 year, 2 years, 3 years, and even 5 years. The post office allows you to open a TD account starting with Rs 1000 and offers no restrictions on the maximum account balance.

Deposit Rs 29,776 Interest with Rs 2,00,000 Deposit

A 2 year Time Deposit (TD) account with post office offers an interest of 7% per annum. Therefore, depositing Rs 2,00,000 in the 2 years TD scheme will yield Rs 2,29,776 at maturity or withdrawal date. We would like to inform you that in the post office TD scheme customers receive fixed and guaranteed interest and there is no risk involved. Any person can go and open an account under the post office TD scheme most, if not all, have the capacity to open one. Only one account or joint account can be opened under these terms. In a joint account a maximum of Three people can be included.

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