How can I double my money in post office?

In this way, if you invest Rs. 10, 000 in Kisan Vikas Patra today then upon maturity of this scheme, which is after 124 months, you will get Rs. 20, 000. Even the official website of the Indian Post Office says that it is the Post Office double money scheme.

Can I double my money in 5 years?

Long term mutual funds offer 12% to 15% per annum as rate of return. Doubling money through mutual funds will take approximately 5 to 6 years.

Which scheme is better in post office?

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Which is the most profitable scheme in post office?

National Savings Time Deposit Account – There is a tax benefit for the investment made in the 5 year post office time deposit. The investment qualifies for the deduction under Section 80C of The Income Tax Act, 1961.

How many years FD will double?

To know the time duration in which your FD amount will get doubled, you have to divide 72 with the highest rate. For example, if the highest rate on FD is 7.05%, then the number of years in which your FD will get doubled is 72/7.05= 10.21.

How many years FD will double in post office?

10 years and 4 months

How can I invest 10 lakhs?

Index Funds are a great first investment.
Sovereign Gold Bonds – The only way you should buy gold now.
REITs – Can't buy a house in Rs 5-10 lakh, but you can earn from real estate.
Max out government saving schemes.

How can I make 10 lakhs in 5 years?

How to create Rs 10 lakh in five years?

Reliance Tax Saver (ELSS) Fund: Rs 3,000 per month.
HDFC Taxsaver Fund: Rs 3,000 per month.
Franklin India Smaller Companies Fund- Regular (G): Rs 2,500 per month.
HDFC Infrastructure Fund (G): Rs 2,500 per month.

Which is better MIS or FD in post office?

The cash flow earnings from an MIS can vary over time as the earnings vary with market fluctuations. So, if you are looking to get surety in terms of interest, an FD is right for you. If you are open to ups and downs in the money you make, choose an MIS.

Which scheme is best in post office 2022?

Post Office Interest Rates 2022

What is the interest of 1 lakh in post office?

1 lakh in the scheme, with a maturity period of 5 years. At the annual interest rate of 7.7%, he will receive a fixed monthly payout of Rs. 641.66.How Post Office Monthly Income Scheme Works?

Is post office FD safe?

Guaranteed Returns: As a government backed savings scheme, the post office fixed deposit is one of the safest option of investment and offers guaranteed return.

What is the interest of 60000 in post office?

RD Formula The investment amount is INR 60,000. The interest earned is INR 9,697.

What is the interest of 5 lakh in post office?

5 lakh. Annual Interest Rate is 6.6% p.a. Tenure is 5 years.

How many years FD will double in SBI bank?

Now applying the rule, just divide the number 72 by the rate of interest. So 72/7.05 = 10.21. So it will take a little more than 14 years for one's investment to get doubled in SBI.

Which bank is best for FD double?

Comparison of FD rates

AXIS Bank. 4.65% - 6.05%
SBI Bank. 2.90% - 5.50%
Equitas Bank. 3.50% - 6.00%
Bajaj Finance. 6.20% - 7.40%
HDFC Bank. 3.25% - 5.75%
ICICI Bank. 2.50% - 5.50%
Canara Bank. 2.95% - 5.50%
Bank of Baroda. 2.80% - 5.25%

What is the interest on 2 lakh rupees per month?

Monthly Interest Rate for 2 Lakh FD

How much interest will I get for 30 lakhs?

Monthly Special Fixed Deposit Interest for Rs. 30 Lakh Fixed Deposit in Bajaj Finance

What is the best investment for 1 year?

Six Best Investment Plans for One Year

Liquid funds. These are one of the most popular methods of parking short term funds up to one year.
Ultra-Short Duration Funds.
Low Duration Funds.
Money Market Funds.
Floater funds.
Arbitrage funds.

What is the interest of 25000 in post office?

The post office's NSC scheme is currently offering a 6.8% interest rate.17-Sept-2021

What is the interest rate for 50000 in post office?

Post Office FD Returns Based on Investment Amount

How can I double my money in post office?