Post Office FD: Rs 15 lakh investment in this small savings scheme gives Rs 6.75 interest and tax benefits

National Savings Time Deposit Account (TD): National Savings Time Deposit Account (TD), also known as a post office FD, is a small savings, guaranteed return scheme where an investor makes a one-time investment and gets a return at the maturity of the scheme. The scheme offers 1-year, 2-year, 3-year, and 5-year FDs at different interest rates. The 5-year FD provides income tax benefits up to Rs 1.50 lakh in a financial year. One can start a FD with Rs 1,000, while there is no maximum investment limit in the scheme. In this write-up, we will tell you what Rs 5 lakh, Rs 10 lakh, and Rs 15 lakh investments in each of the FDs will give you in return at the maturity period. Before that, let's tell you a few facts about the post office FD.

The interest rate in the 1-year post office FD is 6.9 per cent, for the 2-year FD, it is 7.0 per cent, for the 3-year FD, it is 7.1 per cent, for the 5-year FD, it is 7.5 per cent.

Interest in the FD is payable annually and calculated quarterly. 

One can open a single, a joint, an account on behalf of a minor, or an account for a minor over 10 years old in their own name. 

On maturity, the account can be extended for another tenure. 

No deposit shall be withdrawn before the expiry of six months from the date of deposit.

Know maturity amounts on Rs 5 lakh, Rs 10 lakh, and Rs 15 lakh investments

In 1-year post office FD

A Rs 5 lakh investment in this FD will give you Rs 35,403 in interest and Rs 5,35,403 in maturity. 

On investing Rs 10 lakh, one can get Rs 70,806 in interest and Rs 10,70,806 in maturity.

After investing Rs 15 lakh in the FD, one can get Rs 1,06,209 in interest and Rs 16,06,209 in maturity.

In 2-year post office FD

At 7.0 per cent annual interest, a Rs 5 lakh investment in the 2-year FD will give you Rs 74,441 in interest and Rs 5,74,441 in maturity.

A Rs 10 lakh investment in the same FD will fetch you Rs 1,48,882 in interest and Rs 11,48,882 in maturity. 

If one invests Rs 15 lakh in the 2-year FD, they will get Rs 2,23,323 in interest and Rs 17,23,323 in maturity. 

In 3-year post office FD

At a 7.1 per cent interest rate, a Rs 5 lakh investment in the 3-year FD will help you get Rs 1,17,538 in interest and Rs 6,17,538 in maturity.

A Rs 10 lakh investment in the scheme will help an investor get Rs 2,35,075 in interest and Rs 12,35,075 in maturity.

On investing Rs 15 lakh in the scheme, one will get Rs 3,52,613 in interest and Rs 18,52,613 in maturity.

In 5-year post office FD

The 5-year FD has the highest interest rate at 7.50 among all four post office FDs, so a Rs 5 lakh investment in the scheme will help one get Rs 2,24,974 in interest and Rs 7,24,974 in maturity. 

By investing Rs 10 lakh in the scheme, one can get Rs 4,49,948 in interest and Rs 14,49,948 in maturity.

A Rs 15 lakh investment in the scheme will give you Rs 6,74,922 in interest and Rs 21,74,922 in maturity.