Post Office FD Scheme – Nowadays, there are many options available for financial investment. But, finding a plan that guarantees security and good returns can be difficult. In such a situation, Post Office FD Scheme can be a great option.
In this article, we will calculate how much return a post office FD scheme will get for a period of 3 and 5 years on an investment of Rs 50,000.
3 years FD:
- Investment Amount: ₹50,000
- Interest Rate: 7.10%
- Duration: 3 years
Calculation of interest:
Simple Interest = (Investment Amount * Interest Rate * Duration) / 100 = (50,000 * 7.10 * 3) / 100
Simple Interest = ₹10,650
Amount received at maturity:
Amount received on maturity = Investment amount + Simple interest = 50,000 + 10,650
Amount received on maturity = ₹61,754
5 years FD:
- Investment Amount: ₹50,000
- Interest Rate: 7.50%
- Duration: 5 years
Calculation of interest:
Simple Interest = (Investment Amount * Interest Rate * Duration) / 100 = (50,000 * 7.50 * 5) / 100
Simple Interest = ₹18,750
Amount received at maturity:
Amount received on maturity = Investment amount + Simple interest = 50,000 + 18,750
Amount received on maturity = ₹72,497
Conclusion:
Post Office FD Scheme is a safe and profitable investment option. An investment of Rs 50,000 can get a return of ₹ 10,650 in 3 years and ₹ 18,750 in 5 years.
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