Post Office Scheme: How Much ₹2 Lakh Will Earn in Just 1 Minute

Post Office Time Deposit: This scheme offers 7.5% interest for a 5-year investment. There’s no age limit for participation, and you also get tax benefits.

You can invest a minimum of ₹1,000, with options ranging from 1 to 5 years. The interest rate is 6.9% for 1 year, 7% for 2 and 3 years, and 7.5% for 5 years.

Details about Post Office Time Deposit

1. What is Post Office Time Deposit?
   It’s a safe investment with a fixed interest rate.

2. How Long Can You Invest?
   You can choose investment durations of 1, 2, 3, or 5 years.

3. Why is the 5-Year Plan Better?
   The 5-year plan gives the highest interest and tax-saving benefits.

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4. Current Interest Rate?
   The 5-year plan offers 7.5% interest.

5. How Much Will ₹2 Lakh Grow?
   Investing ₹2 lakh for 5 years will grow to ₹2,86,682 at maturity with compounded interest.

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6. Tax Benefits
   You can claim tax exemption under Income Tax Section 80C.

7. How to Invest?
   Open an account at the post office or invest online.

8. Maturity Options?
   You can either reinvest or withdraw your funds after maturity.

9. Who Should Invest?
   This plan is ideal for retirees, housewives, and anyone seeking safe investments.

10. Risk-Free Investment
    Post office schemes are government-backed, ensuring no risk.

11. Who Can Open an Account?
    Minors aged 10 and above can also open an account. Joint accounts are also allowed.