Investment Tips: 4 options to invest money in Post Office FD, but tax benefit on only one..

Investment Tips: 4 options to invest money in Post Office FD, but tax benefit on onlaPost Office Fixed Deposit: Post Office Time Deposit Scheme (National Savings Time Deposit Account) i.e. FD is a scheme that gives safe and guaranteed returns for investment. It is even considered safer than bank FD.

There are 4 options for making FD in the post office and the interest rates on all are attractive. Due to having 4 options in FD, liquidity is better in it. But tax benefits are available in only one option. Know the details about this.....

Option from 1 year to 5 years-
1-year FD: 6.9% annual interest
2-year FD: 7.0% annual interest
3-year FD: 7.1% annual interest
5-year FD: 7.5% annual interest

Tax benefit-
Tax exemption under 80C is available on amounts up to Rs 1.50 invested in a 5-year FD. But if the interest income is Rs 40 thousand or more then TDS will be deducted. The limit for senior citizens is Rs 50 thousand.

Post Office TD: How much profit in 5 years-
Deposit: Rs 10 lakh
Duration: 5 years
Interest: 7.5 percent
Amount on maturity: Rs 14,49,948
Interest amount: Rs 4,49,948

Post Office TD: How much profit in 3 years-
Deposit: Rs 10 lakh
Duration: 5 years
Interest: 7.1 percent
Amount on maturity: Rs 12,35,075
Interest amount: Rs 2,35,075

Post Office TD: How much profit in 2 years-
Deposit: Rs 10 lakh
Duration: 5 years
Interest: 7.0 percent
Amount on maturity: Rs 11,48,882
Interest amount: Rs 1,48,882

Post Office TD: How much profit in 1 year-
Deposit: Rs 10 lakh
Duration: 5 years
Interest: 6.9 percent
Amount on maturity: Rs 10,70,806
Interest amount: Rs 70,806

Features and benefits of the scheme-
Post Office Time Deposit has an investment facility for 1 year, 2 years, 3 years, and 5 years.

It has the facility to open a single and joint account. There can be 3 adults in a joint account.

The special thing about this scheme is that an investor can open multiple accounts.

By depositing at least Rs 1000, an account can be opened in any post office. There is no maximum deposit limit.

In this scheme, the benefit of tax exemption is available on investments made for 5 years.

You can also take a loan by keeping the account as security.y one..

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