When it comes to safety of money and good returns, the common man first trusts government schemes. Especially when it comes to investment, most people prefer to invest money in a place where the risk is negligible and the profit is also certain. In such a situation, post office deposit schemes emerge as an excellent option.
If you deposit Rs 2 lakh in the post office in the name of your wife, how much money will you get after two years? How much interest will you get and how safe is it? Let’s know in detail-
Post Office works under the Government of India and all its schemes are directly under government supervision. Therefore, every penny deposited here is considered completely safe. This is the reason why millions of people invest in post office schemes to keep their savings safe.
Post Office has a special scheme called TD i.e. Time Deposit. This is commonly known as FD (Fixed Deposit). In this, you deposit a fixed amount for a fixed time and get a fixed interest on it. You can also open a TD account in your wife’s name.
If you open a TD account in your name, you can deposit up to Rs 1.5 lakh in a year. Similarly, you can open a separate TD account in your wife’s name and deposit up to Rs 1.5 lakh. That means, a total of up to Rs 3 lakh can be invested at the family level, on which both will get separate interest.
At present, interest rates are being given on Post Office TD schemes according to different periods. For example, 6.9% interest is being given on 1 year deposit, 7.0% on 2 year deposit, 7.1% on 3 year deposit, and 7.5% interest is being given on 5 year deposit.
If you deposit Rs 2 lakh in a 2-year TD plan in your wife’s name, you will get interest at the rate of 7.0 percent per annum. After completion of two years, you will get a total of Rs 2,29,776 back. In this, Rs 2 lakh is your principal amount and Rs 29,776 is in the form of interest.
Another big feature of this scheme is that no matter whose account it is (male or female), everyone gets the same interest rate. Also, there is no risk in this as it is a completely government guaranteed scheme.
Such plans are ideal for those who wish to make safe and reliable investments in the name of their spouse, especially when it comes to future financial stability.
