Post Office Saving Schemes: Despite the reduction in the repo rate by the Reserve Bank of India, almost all banks have reduced the interest rates on fixed deposits (FDs). In contrast, the post office is still offering the same interest rates to its customers as before. Even after the fall in the repo rate, the post office has not made any change in the interest rates on its savings schemes.
The post office is offering interest ranging from 6.9 percent to 7.5 percent on the time deposit scheme to its customers. Let us tell you that the post office TD scheme is exactly like the FD scheme of banks, in which fixed returns are received after a fixed time.
Post office is giving 7.0 percent interest on a 2-year TD-
The post office is currently giving 6.9% interest on a 1-year fixed deposit (TD), 7.0% on a 2-year TD, 7.1% on a 3-year TD, and 7.5% on 5-year TD.
On depositing Rs 1 lakh, you will get Rs 1,14,888-
The post office is giving 7.0 percent interest to its customers on a 2-year TD. If you deposit Rs 1 lakh in this scheme in your wife's name, then on maturity, a total of Rs 1,14,888 will come in your wife's account. Let us tell you that this amount includes Rs 1,00,000 deposited by you and a fixed interest of Rs 14,888.
Disclaimer: This content has been sourced and edited from Hr Breaking. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.
Disclaimer: This content has been sourced and edited from Hr Breaking. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.
