Post office:Post office plans have always been synonymous with safe and reliable investment. If you want to increase your money and increase it manifold, then Post Office Fixed Deposit (FD) can be a great option for you. This scheme not only gives guaranteed returns, but also provides a chance to trip your amount in the long term.

Come, let’s know how the 5 -year -old FD of the post office and its strategic expansion can make you a big profit.

Post Office FD: Why is this special?

The time deposit scheme of the Post Office is available for a period of 1 to 5 years, with interest rates vary depending on the period. The special thing is that 5 -year -old FD gets an attractive interest rate of 7.5%. If you use this scheme properly, your investment may be triple in 15 years. This is best for those who are looking for risky investment.

Magical formula to trip the amount

Post Office Fixed Deposit is secret to triple investment, its 5 -year -old FD twice, ie maintaining investment for a total of 15 years. Suppose you invest 5 lakh rupees. With 7.5% interest rate in the first 5 years, you will get an interest of Rs 2,24,974, and your total amount will be Rs 7,24,974.

Now, if you put this amount in FD again for the next 5 years, then after 10 years your amount will increase to Rs 10,51,175, in which Rs 5,51,175 will come from only interest.

But the real awesome is when you increase it for the third time for 5 years. At the end of the 15th year, you will get Rs 10,24,149 only as interest, and your total amount will be Rs 15,24,149. That is, your original investment will be triple, out of which more than double the interest will come only from interest. This is a great example of a planned investment, which becomes even more attractive with the reliability of the post office.

Easy way to increase fd

Post Office’s FD is very easy to increase after maturity. 1 year FD can be extended within 6 months of maturity, 2 year old FD within 12 months, and 3 or 5 years of FD within 18 months. If you want, you can request for expansion while opening an account. During this time, the interest rate applicable applied on the day of maturity will be applicable on the extended period, which will not affect your earnings.

Interest rates on FD of other periods

Different interest rates are given on different FD periods of Post Office. 6.9% per annum on 1 year FD, 7.0% per annum on 2 -year FD, 7.1% annually on 3 years FD, and 7.5% annual interest on 5 -year FD. These rates are attractive to those who want safe and stable returns compared to bank FD.

Why choose Post Office FD?

Post Office Fixed Deposit is not only safe, but it comes with government support, which makes it risk-free. This is ideal for those who are planning to invest for a longer period and want to increase their hard earned money manifold. Whether you are planning retirement or want to save children for education, this scheme can help in meeting your financial goals.