Post Office FD Details 2023: Giving a big gift to those who invest in the Post Office Savings Scheme! The central government has announced a bumper hike in interest rates! The Finance Ministry has released the list of new interest rates for small savings schemes for the April-June quarter. After the implementation of the new interest rates, the highest Fixed Deposit interest rate has become 8.2 percent! Which the investors of Senior Citizen Saving Scheme are getting!
Post Office FD Details 2023
If you want to invest in Post Office! So by investing money in Post’s Fixed Deposit Scheme, you can easily double it! For this, you have to deposit money only once for 10 years! There are many investment options available in today’s time. But still most people prefer to invest in those places only! FD is one of those means from where they can get guaranteed returns! On Fixed Deposit, you get a fixed return for a fixed period!
Earlier 5.8 percent interest was being received on FD of 3 years in the post office.
- Earlier 5.5% interest was being received on 1 year FD of Post Office! Due to which your investment of 1 lakh was becoming 1,05,614, which will now be Rs 1,06,765 at 6.6%!
- Earlier 5.7 percent interest was being received on the 2-year fixed deposit of the post office! Due to which your investment of 1 lakh was becoming 1,11,985, which will now be Rs 1,14,437 at the rate of 6.8 percent!
- Earlier 5.8 percent interest was being received on the 3-year FD of the post office! Due to which your investment of 1 lakh was becoming 1,18,857, which will now be Rs 1,22,781 at the rate of 6.9 percent!
- Earlier 6.7 percent interest was being received on the 5-year FD of the post office! Due to which your investment of 1 lakh was becoming 1,39,407, which will now be 1,41,478 at the rate of 7 percent!
Can double the Fixed Deposit amount
If you take a 5-year fixed deposit plan in the Post Office! So you can make huge profits and double your money in 10 years! Calculate according to post office time deposit! If you invest 1 lakh rupees then deposit for 5 years! So you will get Rs 41,478 on Fixed Deposit at the rate of 7%! And the total amount will be Rs 1,41,478! But if you run it for 5 more years! So in 10 years you will get Rs 1,00,160 as interest. In this way your amount will be Rs 2,00,160! Means your money more than doubles in 10 years!
New interest rates of Post Office
You get the facility of time deposit up to 1, 2, 3 and 5 years in the post office. Their interest also varies according to the period. Now you are getting 6.6% interest on 1 year time deposit, which was earlier 5.5%. Two-year Fixed Deposit is getting 6.8 percent interest, which was earlier 5.7 percent. You will get 6.9 percent interest on three-year time deposits, which was earlier 5.8 percent. Interest is being received at the rate of 7 per cent on 5-year time deposit, which was earlier 6.7 per cent. The new interest rates of the Post Office have come into effect from January 1, 2023 and will remain in force till March 31, 2023.
According to the new interest rates, the post office will get 6.6 percent interest on one-year FD, 6.8 percent on two-year FD, 6.9 percent on three-year FD and 7 percent on five-year Fixed Deposit. On the other hand, 0.4 percent more interest will be given on Senior Citizen Savings Scheme during January-March. Eight percent interest will be given on this scheme. At the same time, the interest rate of the Post Office has increased to 7.2 percent.
Also know: EPFO PF Interest Rate Hiked: Big gift to 6 crore people, EPFO increased interest on PF by so much percent