Post Office Scheme: Deposit 5 lakhs, get 10 lakhs return with guarantee,

By | June 10, 2023

Post Office: If you want a guaranteed return on a lump sum deposit without taking any risk, Post Office term deposit scheme is a good option. From 1 April 2023, Post Office 5-year time deposits are getting 7.5 percent interest per annum. In this scheme interest rate is paid on annual basis. But compounding of interest is done on quarterly basis

Post Office Scheme

Customers are getting 7.5 percent interest from 1 April 2023 on 5-year FD at Post Office. According to Post Office FD Calculator 2023, if you make a deposit of 5 lakh rupees, the regular customer will get 7,24,974 rupees on maturity. It will earn 2,24,974 rupees from interest. You can extend this scheme for another five years after maturity. In this way, a deposit of 5 lakh rupees will increase to 10,51,175 rupees in 10 years. There will be an income of Rs 5,51,175 from interest. That means your investment will double in 10 years.

Single Account and Joint Account are also opened under Post Office Time Deposit. A maximum of 3 adults can be included in a joint account. This account can be opened with a minimum of 1000 rupees. After this you can invest in it in multiples of Rs.100. There is no investment limit in Post Office TD. The Finance Ministry reviews interest rates on small savings every quarter.


5 years FD in post office gets the benefit of tax exemption. A tax deduction can be claimed on an investment of Rs 1.5 lakh under Income Tax Section 80C. It is worth noting here that the amount received on maturity in FD is taxable. Post Office TD is getting 6.8 percent annual interest for 1 year, 6.9 percent for 2 years and 7 percent for three years. In this scheme, the interest rates are calculated every three months, but the repayment is made on an annual basis.

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