Post Office FD: What return you will get on Rs 5 lakh investments in 1-, 2-. 3- and 5-year FDs
Post Office FD: Post Office fixed deposit (FD) schemes are quite popular among investors as they provide them an opportunity to invest a lump sum amount and get guaranteed returns on it. One gets the maturity amount at the end of the FD's duration. Post office runs 1-year, 2-year, 3-year, and 5-year FD schemes. The interest rates in these schemes are: 6.90% in the 1-year FD, 7.00% in the 2-year FD, 7.10% in the 3-year FD, and 7.50% in the 5-year FD. Deposits up to Rs 1.50 lakh in a 5-year FD are tax-exempt under Section 80C of the Income Tax Act.
Here's what you will get on a Rs 5 lakh investment each in 1-, 2-, 3-, and 5-year FDs.
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Return in 1-year FD
Return in 1-year FD Since 1-year FD provides an interest rate of 6.90%, on a Rs 5 lakh investment, you will get Rs 35,403 as interest and your maturity amount will be Rs 535,403.
Return in 2-year FD
Return in 2-year FD A 2-year FD provides you an interest rate of 7.00%. So, on a Rs 5 lakh investment, you will get Rs 74,441 as interest and your maturity amount will be Rs 574,441.
Return in 3-year FD
Return in 3-year FD The interest rate in the post office's 3-year FD is 7.10%. Therefore, on a Rs 5 lakh investment, you will get Rs 1,17,538 as interest and your maturity amount will be Rs 6,17,538.
Return in 5-year FD
Return in 5-year FD The 5-year FD provides the highest return at 7.50%. So, on a Rs 5 lakh investment, you will get Rs 2,24,974 and your maturity amount will be Rs 7,24,974.