Which is best savings scheme in post office?
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?
10 years and 4 months
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.
Apart from banks, FD schemes are also provided by Post Offices. While comparing the rate of interest offered by the State Bank of India fixed deposits for a tenure of five years and post office term deposits for the same tenure, the difference comes to around 1.2%.03-Apr-2022
Which is the highest interest in post office?
The highest Post Office fixed deposit interest rate is 6.70% for a 5-year tenure time/ fixed deposit. What is the maximum deposit amount to open a time deposit account in a post office? There is no maximum deposit limit for a Post Office fixed deposit. The minimum deposit amount is Rs 1,000.
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Which scheme gives highest rate of interest in post office?
Comparison of the Various Post Office Savings Schemes
The Post-Office Term Deposit (POTD) Scheme is an investment savings account scheme offered by the India Post (Department of Posts). This scheme is meant for those depositors who want to deposit a lump sum of money for a fixed five-year tax-saving fixed deposits.
What is the interest of 5 lakh in post office?
5 lakh. Annual Interest Rate is 6.6% p.a. Tenure is 5 years.
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Is post office deposit taxable?
Post Office time deposit Under Section 80C of the Income Tax Act of India, 1961, the deposit you placed in the 5-year fixed deposit account qualifies for an income tax deduction. Post office time deposit Interest is paid annually but calculated quarterly.08-Mar-2022
The post office's NSC scheme is currently offering a 6.8% interest rate.17-Sept-2021
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.
How can I make 10 lakhs in 5 years?
How to create Rs 10 lakh in five years?
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What are the disadvantages of Post Office Savings?
However, the disadvantage with post office savings is that that in the age of convenience banking, you will have to visit the post office every month. In case of banks, the amount is automatically debited from your account. Premature withdrawal, however, cannot earn you desired returns.12-Feb-2013
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How much can I invest in post office monthly income scheme?
In addition, an individual can invest a maximum of Rs. 4,50,000 in Post Office Monthly Income Scheme. This amount includes his/her share in the joint accounts.
Which is best savings scheme in post office?