Post Office FD Scheme: A safe and attractive investment option Post Office FD Scheme is a popular and trusted investment option for Indian citizens. It not only provides security to your investment but also gives good returns with attractive interest rates. If you are thinking of investing in Fixed Deposit (FD), then this article will prove useful for you.
Benefits of Post Office FD Scheme
Safe Returns: The biggest advantage of investing in Post Office FD is that you get completely safe returns in it.
Attractive Interest Rate: Currently the interest rate of Post Office FD is 7.5%, which is quite attractive for investors.
Minimum Investment Amount: You can start investing with a minimum of Rs 1,000 and there is no maximum investment limit.
Return on investment of Rs 50,000 in 5 years
If you invest Rs 50,000 in Post Office FD for 5 years, you will get a return of Rs 72,497 at an interest rate of 7.5%. Out of this, Rs 22,497 will be in the form of interest only.
Pre-mature withdrawal facility
If you need to withdraw money before investment for any reason, then you can also opt for pre-mature withdrawal. However, you will get this facility only after six months of opening the FD account. You may get some deduction in interest on pre-mature withdrawal.
Change in interest rates
Interest rates in Post Office FD scheme are decided by the government and may change from time to time. Therefore, it is necessary to get information about interest rates before investing.
Conclusion
Post Office FD scheme is a good option for investors who are looking for safe and attractive returns. However, before investing, make sure to get information about interest rates and rules.
Frequently Asked Questions (FAQs)
Question: What is the minimum and maximum amount that can be invested in Post Office FD?
Answer: There is a minimum of Rs 1,000 and no maximum limit.
Question: Is the interest rate in Post Office FD fixed?
Answer: No, interest rates are fixed by the government and may change from time to time.
Question: Can pre-mature withdrawal be done in Post Office FD?
Answer: Yes, pre-mature withdrawal can be done after 6 months, but there may be some deduction in interest.
This article is for information purposes only. Consult a financial advisor before investing.