Best chance to get RD and FD for 5 years at the post office, understand the whole thing here ..!
There are many ways to invest in a post office. Here you can invest in fixed deposits i.e. FD and Post Office Recurring Deposit. If you are thinking of investing in any of these for a long time, you should do your homework a little earlier.Here we are trying to understand how much income is given if we start an FD account at the post office for five years and make a Post Office Fixed Deposit for five years.
5 years fixed deposit at post office
The fixed deposit account is called the National Savings Time Deposit Account at the post office. Here you can open an FD account for a minimum of 1000 rupees and withdraw over 100 FD as desired. There is no limit to the amount in it.
According to the information given on the India Post website, you can get FD for 1 year, 2 years, 3 years and 5 years. The interest rate for one to three years is 5.5 per cent per annum. The annual interest rate for a five-year FD is currently 6.7 percent. That is, if you receive an FD for five years, you will receive 6.7 percent interest on the income.
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