Where to invest will be more beneficial | Time Deposit in Post Office, Monthly Income Plan or SBI Fix Deposit

 

You can get into trouble by investing money anywhere without thinking. This can also ruin your hard-earned money. In such a situation, if you want to invest your money somewhere where your money is safe and you also get returns, then you can invest in post office time deposit, monthly income scheme and bank fixed deposit in SBI. Today we are telling you how much you will get by investing in all these three places.

 

Post office time deposit scheme, it is a kind of fixed deposit (FD). You can take advantage of fixed returns and interest payments by investing lump sum money for a fixed period in it. The post office time deposit account offers a time deposit interest rate of 5.5 to 6.7 per cent for a period ranging from 1 to 5 years. According to the official website of India Post, one can avail tax exemption under section 80C of Income Tax Act, 1961 for investing on a fixed deposit account of 5 years. It has to invest a minimum of 1000 rupees. There is no maximum investment limit.

 

What will be the return on investment for 5 years? Under this scheme, if you invest Rs 1 lakh for 5 years, then after 5 years you will get Rs 139,406. In this, you will get Rs 38,299 as interest at 6.7 per cent interest rate.

 

How long will it take a time for the money to double? The maximum fixed deposit rates are getting 6.7 per cent in this case, according to Rule 72, if you invest money in this scheme, then it will take 10 years and 7 months for the money to double.

 

Monthly income investment plan In this, you can arrange monthly income for yourself by depositing this lump sum money. Monthly income plan the special thing is that after the completion of the scheme you will get all your money back.

 

How much can you invest in a monthly income investment plan? Under the monthly income plan, the account can be opened with a minimum of 1000 rupees. On the other hand, if you talk about the maximum investment, if your account is single, then you can deposit up to Rs 4.5 lakh. On the other hand, if you have a joint account, a maximum investment of 9 lakh rupees can be deposited in it. Maturity period is 5 years. After every 5 years, the monthly income investment plan can be carried forward as long as desired through the same account.

 

What will be the return on investing in a monthly income plan for 5 years? Under the monthly income investment plan, if you invest 1 lakh rupees for 5 years, then after 5 years you will get Rs 137,653. In this, you will get Rs 37,653 as interest at 6.6 per cent interest rate.

 

Monthly income plan How long will it take for the money to double? Maximum interest is getting 6.9 per cent in this, according to Rule 72, if you put money in this scheme, then it will take 10 years and 9 months for the money to double.

 

SBI FD interest rates

 

Term of SBI fix deposit	SBI intt rate (%)
7 to 45 days	2.90
46 to 179 days	3.90
180 to 210 days	4.40
211 less than 1 year	4.40
Over 1 and under 2 years	4.90
Over 2 and under 3 years	5.10
Over 3 and under 5 years	5.30
Over 5 and under 10 years	5.40

 

 

What will be the return on investment for 5 years? Under this scheme, if you invest Rs 1 lakh for 5 years, then after 5 years you will get Rs 130,077. From sbi fixed deposit interest rate 6.9, you will get 30,077 rupees as interest. How long will it take for all sbi bank fixed deposit money to double? Maximum interest is getting 5.4% in this, according to Rule 72, if you invest money in this scheme, then it will take 13 years and 3 months for the money to double.