Post Office FD Scheme: Triple Your Money in 15 Years

Post Office FD Scheme: If you are looking for a safe and long-term investment plan, then the Post Office Fixed Deposit (FD) scheme can be a good option for you. Just like banks, Post Offices also offer investment schemes that give good returns. One such scheme is the 5-Year Fixed Deposit which offers 7.5% interest currently.

What is the Post Office FD Scheme:?

In this Post Office FD scheme, you can invest a minimum amount of money for a fixed period. If you invest Rs. 5 lakhs for 5 years at 7.5% interest, you will earn Rs. 2,24,974 in interest. Your total amount after 5 years will be Rs. 7,24,974.

If you extend this FD for another 5 years, the interest will grow to Rs. 5,51,175. So, your total amount after 10 years will be Rs. 10,51,175.

You can again extend it for another 5 years. After 15 years, your interest will be Rs. 10,24,149, and your total return will be Rs. 15,24,149. So, your money gets tripled.

How to Extend the FD

You can extend your FD after it matures. If it’s a 1-year FD, you must apply within 6 months after the maturity date. For 2-year FDs, you must apply within 12 months. For 3 and 5-year FDs, the extension must be applied within 18 months. You can also choose the extension option at the time of opening the account.

The interest rate applied during extension will be based on the rate available on the maturity date of the original FD.

Why Choose Post Office FD?

– Safe and government-backed investment
– Guaranteed returns
– Best for long-term goals
– Option to extend for 15 years
– Compounding interest grows your money steadily

This scheme is suitable for people who want to save their money securely and are looking for steady growth over a long time. By investing just Rs. 5 lakhs today, you can receive more than Rs. 15 lakhs in 15 years.

So, if you want to build your savings slowly and safely, the Post Office FD scheme is a smart choice. Always remember to plan ahead and decide whether you want to extend your deposit in the future for better returns.

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