Post office FD vs. RD: Learn the specifics. A year's worth of Post Office FD will provide interest that you won't even collect in five years of RD

Post office FD vs. RD: Learn the specifics. A year's worth of Post Office FD will provide interest that you won't even collect in five years of RD

Post office FD vs. RD: Learn the specifics. A year's worth of Post Office FD will provide interest that you won't even collect in five years of RD

If you are unable to invest a large quantity in one go, you may use Post Office RD to invest a certain amount each month. However, post office FD will be a beneficial transaction for you if you are able to deposit a large volume of money.

The post office offers a wide range of investing choices if you're thinking about making a purchase. We shall discuss the post office's RD and FD in this section. Even though banks provide these alternatives as well, the post office offers excellent interest rates on both RDs and FDs. You now get interest on Post Office RD at a rate of 6.7%. One benefit of RD is that, should you be unable to invest a substantial money in one go, you may choose for Post Office RD, which allows you to invest a certain amount each month.

For five years is the post office RD. After five years, you may profit at 6.7 percent interest in such a scenario. However, post office FD will be a beneficial transaction for you if you are able to deposit a large volume of money. You will get a significant amount of interest on this even for a one-year investment, which is not accessible even for a five-year RD. Find out here how much a Rs 1 lakh post office FD investment will be worth in 1, 2, 3, and 5 years.

Post office FD for a year

You would get interest at a rate of 6.9 if you invest Rs 1 lakh in post office FD for a year. In this case, you would get interest of Rs 7,081 on Rs 1 lakh after a year, and you will receive Rs 1,07,081 back in total.

two-year FD

You would get interest at the rate of 7% if you deposit Rs. 1 lakh as a savings account with the post office and leave it there for two years. In this case, you would get Rs 14,888 as interest and Rs 1,14,888 back in total after two years.

three-year FD

You will get interest at the rate of 7.1 percent if you make FD of one year for three years at the post office. Interest at the rate of 7.1 percent on a sum of Rs 23,508 would be accessible in this case. In this manner, you would get a total of Rs 1,23,508 back after three years.

five-year FD

You will get interest at 7.5 percent if you receive a one-year fixed deposit placed at the post office and keep it there for five years. In this case, your investment would yield Rs 44,995 after five years. In this manner, you would get a total of Rs 1,44,995 after five years.