Post Office Superhit Scheme: Invest Rs 5 lakh and earn Rs 2 lakh from interest only, check the calculation

Investors who invest in the Post Office Time Deposit Scheme, along with an attractive interest rate, also get the benefit of tax exemption under Section 80C of the Income Tax Department Act 1961.

Post office savings schemes are becoming very popular in terms of excellent returns and safe investments. There are many savings programs running here for everyone from children to the elderly. One of these special schemes helps investors earn lakhs through interest only. Yes, we are talking about the Post Office’s term deposit scheme. In this five-year program, the returns are not only good for keeping the money safe, but also for strong returns. This makes it one of the popular return schemes.

An interest rate of 7.5 percent is available

Everyone wants to save and invest part of their income in a place where their money remains safe and can earn an excellent return. In this regard, the post office’s small savings schemes are now proving to be very popular. Talking about the post office term deposit scheme, it offers huge interest and great benefits. The interest received on the investment in this scheme is 7.5 percent.

Last year itself, on April 1, 2023, the available interest rate in this Term Deposit Scheme was increased from 7 percent to 7.5 percent for a period of five years. With this interest rate, this post office is one of the best savings schemes as it is becoming popular among investors for its guaranteed income.

You can invest for a maximum of 5 years

Investors can invest in this Post Office savings program for different terms. Money can be deposited for 1 year, 2 years, 3 years and 5 years. If you invest for one year, you will get 6.9 percent interest, if you invest money for 2 or 3 years, you will get 7 percent interest and if you invest in the Post Office Time Deposit for 5 years, you will get 7.5 percent interest. . However, it takes more than five years for the customer’s investment to double.

Will earn more than Rs 2 lakh in interest

If we look at the calculation of doubling of investors’ money in term deposits at post offices, suppose a customer invests Rs 5 lakh for five years and he gets interest at 7.5 percent, then during this period he gets Rs 2 lakh on the deposit. An interest of Rs 24,974 will be earned and the total maturity amount including the investment amount will increase to Rs 7,24,974. That means you can earn a guaranteed income of lakhs of rupees by investing in it.

You also benefit from the benefit of tax exemption

Under the term deposit scheme, the customer also gets the benefit of tax exemption under Section 80C of the Income Tax Department Act 1961. Under this savings scheme, a single account or a joint account can be opened. The account of a child over 10 years old can be opened through his relative. An account can be opened in this with a minimum of Rs 1,000. Interest money is added annually.