Post Office scheme: Avail more benefits than banks; check interest rates, other details

If you want to make a safe and profitable investment then here's an opportunity for you. You can invest in the fixed deposit scheme of the post office and earn good returns from it.

By investing in a fixed deposit in the post office, you get many facilities. The most important thing is that in this you will get a government guarantee along with returns. Here, you get the facility of interest on a quarterly basis.

Investing in an FD in the post office is very easy. India Post has given detailed information about this on its website. According to this information, you can get FD in the post office for different tenures, including 1,2, 3, or 5 years.

Benefits of FD

• The Government of India gives you a guarantee on Fixed Deposits in the post office.
• The money of the investors is completely safe.
• FD in this can be done through offline (cash, cheque) or online (net banking / mobile banking) methods.
• You can invest in more than one FD.
• The FD account can be joint.
• By making a fixed deposit for 5 years, you will get tax exemption at the time of filing ITR.
• One can easily transfer FD from one post office to another post office.

To invest in an FD in the post office, you can open an account by paying in cheque or cash. In this, accounts can be opened with a minimum of Rs 1,000 and there is no limit on the maximum amount.

Notably, FD offers great interest. Under this, 5.50 per cent interest is available on FD of 7 days to one year. The same interest rate is also available on FDs of 1 year 1 day to 2 years. At the same time, interest is also available on FD for up to 3 years at the rate of 5.50 per cent. 6.70 per cent interest is available on FDs from 3 years and one day to 5 years.