Invest ₹1 lakh in your wife's name at the Post Office, and in two years, you'll earn such a return that even your friends will ask, "What's the secret?"
Post Office Scheme: Make a safe investment by opening an FD in your wife's name at the Post Office. It will generate attractive returns in two years, and even your friends will ask how it happened. This is an easy and risk-free way to ensure your family's financial security.
Post Office Scheme: Everyone wants their hard-earned money to be safe and generate good returns in the future. Investing becomes a crucial tool in this situation. While the stock market and mutual funds offer the opportunity for high profits, they also carry risks. If you want to invest with family security in mind, a Post Office Fixed Deposit (FD) is a reliable option, especially if you invest in your wife's name.
Why is investing in your wife's name beneficial?
In Indian families, investment decisions are often made by men, but investing in your wife's name can prove beneficial in many ways. Doing so increases the wife's financial independence. If she is a housewife, the tax burden on the interest earned from an FD opened in her name can be reduced, as she does not have a separate income. Additionally, this type of investment further strengthens the family's future financial security. In case of an emergency, the wife can directly access the investment, ensuring timely meeting of the family's financial needs.
Post Office Time Deposit
Post Office FD (Time Deposit) is a safe investment instrument with guaranteed returns. Its tenure and interest rates are as follows.
1-year FD – 6.9%
2-year FD – 7.0%
3-year FD – 7.1%
5-year FD – 7.5%
Minimum investment amount: ₹1,000
No maximum investment limit
If an investor makes a fixed deposit of ₹100,000 in his wife's name for 2 years, it will earn interest at the rate of 7.0% per annum. After two years, this amount will grow to ₹114,888, consisting of the principal of ₹100,000 and the interest of ₹14,888. The biggest highlight of this scheme is that the interest rate remains constant for the entire term and is not affected by market fluctuations.
Difference between Bank FDs and Post Office FDs
| Feature | Bank FD | Post Office FD |
|---|---|---|
| Interest Rates | Depend on RBI Repo Rate, fluctuate regularly | Fixed and guaranteed |
| Senior Citizen Benefit | Additional interest for seniors | Same rate for everyone |
| Tax Benefit | Only on 5-year tax-saving FD | Section 80C tax exemption on 5-year FD |
| Minimum Investment | Varies across banks | ₹1,000 |
Disclaimer: India Employment News does not provide any stock market buying or selling recommendations. We publish market analysis based on market experts and brokerage firms. However, make market-related decisions only after consulting certified experts.
