Post Office: You will deposit Rs 14,49,948 in this scheme in just five years, invest

Many schemes are run by the post office. Today we are going to give you information about a scheme of the post office, in which any citizen can invest for 5 years and avail tax exemption. Today we are going to give you information about the time deposit scheme of the post office, which is operated under the small savings scheme.

By investing a lump sum amount in it, you can avail the benefit of interest being added from time to time. It is also called post office FD. Four types of tenure have been introduced by the post office under time deposit.

An annual tax exemption of Rs 1.5 lakh is available

Under time deposit, 3 people can open an account in single and joint. You will have the opportunity to invest a minimum of Rs 1000 in multiples of 100 in this scheme of the post office. There is no limit on the maximum investment amount. Under this scheme of the post office, you get an annual exemption of Rs 1.5 lakh under Section 80C of Income Tax under a tenure of five years. You have the opportunity to withdraw money under this scheme before six months of investment.

You can deposit such a huge amount in five years

Under time deposit, you will have the opportunity to earn Rs 4.5 lakh from interest. For this scheme of the post office, you will have to save Rs 2,778 every day and invest at least Rs 10 lakh in a lump sum after one year. If this happens, you will earn a huge amount of Rs 4,49,948 from interest only in 5 years. Your total will be Rs 14,49,948.