Awesome post office scheme, open account worth Rs 200, will get more returns than bank

The first thing that comes to mind is the idea of ​​investing in the bank. Some people nowadays give more importance to the bank than the post office. But if you know that investing in a post office is more secure and better than a bank, then you might be a little assertive.


Every investor wants more return on their investment. Such people should invest in the post office. Because the post office offers more interest on fixed deposits than the bank. Currently, if you make a time deposit in the post office, you are getting interest up to 7.4%.

If we talk about investment securities, bank has insured under deposit insurance and credit guarantee scheme on FD. So under any scheme, the investor gets only Rs 1 lakh under this scheme. You can also get a loan in return for keeping the account as security. But that is not the case with the time deposit at the post office.


About the account
This account is named Post Office Time Deposit Account (TD). You can open this account at post office for only Rs. 200 For this you have to go to the nearest post office. There is no maximum investment limit.

What is a scheme
Post office will get 6.6% interest on FD for 1 year, 6.7% interest for 2 years, 6.9% interest for 3 years, 7.4% interest for 5 years. These interest rates are calculated on a quarterly basis. However, it will be paid on an annual basis.

Children can also open an account
Thus, parents can open an account in the name of their children. But if the child is over 10 years old. So it can operate the account itself. In addition, you can open as many accounts as you want under this scheme.


Also a joint account facility
Under this scheme you can not only open a single account but there is also facility to open joint account. You can also convert your joint account into a single account whenever you want.

Account Transfer Facility
You can transfer your account from one post office to another post office whenever you want. In addition, you can hold a nominee. You can also transfer your annual interest in a recurring deposit. It requires that your RD be for 5 years.

Investment way
If you put money into this scheme, you have to go to the post office for that. You can't do this at home. Because in this scheme you will only be able to deposit money through cash and check.


Tax Benefit Facility
The scheme also gives you tax benefits. However, the benefit comes from those who open a time deposit for 5 years. Deposit openers will not receive this benefit for less time.

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