When we talk about withdrawing money invested in any scheme, we believe that the investment is completely safe and brings maximum returns. There are many schemes in the market and here is one of the post office schemes which is absolutely ideal for investment.
This scheme is called Postal Time Deposit Account Scheme. An investor will get Rs 10 lakh in just 3 years.
What are the benefits of the scheme
First, you need to open a term deposit account at the post office. You will have to invest 8 lakh 50 thousand rupees in the account at a time. Under the scheme, the post office offers an interest rate of 5.5 percent per annum. After 3 years you will get returns of more than Rs 10 lakh on maturity. You will get one lakh 51 thousand rupees in just 3 years.
You should open a term deposit account or a fixed deposit account at the nearest post office. Your investment amount will start from Rs 1000 to any amount you want to invest. The minimum age limit is 10 years. If you are below the minimum age limit, it does not mean that the options are closed to you. The account of a minor child is opened under the supervision of his parents.
Scheme Maturity
The maturity of the scheme is 1 year, 2 years, 3 years and 5 years. This means you can invest in it for 1, 2, 3 or 5 years.
This scheme allows investors to withdraw money before the maturity period with certain restrictions. You cannot withdraw money within 6 months of the investment. At the same time, when withdrawing the amount between 6 and 12 months, you will receive interest equal to the savings account.
On the other hand, if you withdraw money from the account 2, 3 or 5 years ago, 2 percent is deducted from your total interest.