Many are aware that the Central government has not changed the interest rates of small savings schemes for the September quarter. Notably, Post Office runs a lot of savings schemes, the best of which is that there is a guarantee from the government on it.
Today, let us tell you about all the important Post Office savings schemes. Let’s find out how much money you need to invest in these schemes, and how much time it will take for your money to get double.
Post Office Time Deposit (TD)
Post Office Time Deposit (TD) of 1-3 years is currently getting an interest of 5.5%. If you invest in this, your money will double in about 13 years. Similarly, you are getting an interest of 6.7% on a time deposit of 5 years. If money is invested with this interest rate, then your money will double in about 10.75 years.
Post Office Savings Bank Account
If you keep your money in a post office savings account, then you may have to wait for a longer period for the money to double…