If you’re seeking a safe and profitable investment opportunity, look no further than the Post Office.
Discover the benefits of Post Office Fixed Deposit (FD) in this informative article.
With the Post Office FD, you can invest your money for a period ranging from 1 to 5 years.
Investors in this scheme witness their money doubling over time, with varying interest rates based on the duration of investment. Let’s delve into the details.
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Currently, the Post Office Time Deposit Scheme offers an attractive interest rate of 7.5 percent for a 5-year investment.
Suppose you invest Rs 5,00,000 in a Post Office FD, you will earn Rs 2,24,974 as interest after 5 years at the 7.5% rate.
Thus, the maturity value will amount to Rs 7,24,974.
Maximize Your Returns with Long-Term Investments
To further double your money without withdrawing it upon maturity, consider reinvesting it for an additional 5 years.
By doing so, you can capitalize on the current interest rate and earn an additional interest of Rs 3,26,201.
In this scenario, your total interest earned on a Rs 5 lakh investment will be Rs 5,51,175.
Over a span of 10 years, your total maturity value will reach an impressive sum of Rs 10,51,175.
