Everyone wants to save a part of their income so that they can invest it in a safe place and get good returns. Keeping this in mind, many schemes of the post office are becoming popular. In these, good profits can be earned even with a small amount. One such great scheme is the Post Office Time Deposit Scheme, in which a good interest rate is given by the government. Great interest of 7.5% There are savings schemes for every age group in the post office. The Post Office Time Deposit Scheme not only provides a safe investment opportunity, but also gives good returns and tax exemption. Especially, the government gives an attractive interest of 7.5% on five-year investment, which makes it an excellent option.

Different interest rates for different periods: In the Post Office Time Deposit Scheme, you can deposit money for 1, 2, 3 and 5 years. 6.9% interest is available for 1 year, 7% interest is available for 2 and 3 years, while 7.5% interest is available for 5 years. It is clear from this that you will get more benefit if you invest for a long time.

How will you earn lakhs? If you invest Rs 5 lakh in this scheme for 5 years, then at an interest rate of 7.5%, you will get interest of Rs 2,24,974. In this way, after 5 years, your total amount will become Rs 7,24,974. That means you will get a profit of more than Rs 2 lakh from interest alone.

Tax exemption benefits Post Office Time Deposit Scheme also offers tax exemption under Section 80C of the Income Tax Act. You can open a single or joint account in it, and the account of a child above 10 years of age can be opened through his/her family member. An account can be opened in this scheme with a minimum of Rs 1,000 and there is no maximum investment limit in it, that is, the more money you invest, the more profit you will get.

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