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PPF or Public provident fund is one of the best fixed deposit schemes offered by post offices. Deposits can be made either at once with a lump sum amount or in 12 monthly installments. The rate of interest offered on the fixed deposit account currently is 7.1%. Premature closure is not allowed for the account.

5 Year Post Office Recurring Deposit (PORD) Account allows investors to save on a monthly basis. The interest is compounded on a quarterly basis. This post office small savings scheme has a total of 60 monthly instalments. Post Office RD is suitable for individuals who wish to save through regular monthly deposits.

The highest Post Office FD interest rate is 7.50% for deposits maturing in 5 years. This rate applies from 1 July 2023 to 30 September 2023. Q. In how many years FD will double in the post office? A. At an interest rate of 6.9%, a post office fixed deposit investment will double in approximately 11 years.

Bank FD vs NSC: The National Saving Certificate (NSC) offers a higher interest rate of 7.7% compared to banks' FD rates of 3% to 7.25%. NSC is a low-risk investment backed by the government, while FD rates vary.

Can I double my money in 5 years in the post office? There are many investment options offered by the post office that can be availed to double your money in 5 years. However, to double money with KVP, you would have to wait for a period of over 10 years.

Best 10 Post Office Scheme and Interest Rates for 2023 Sr. No.Post Office Savings SchemesInterest Rates Annually1Post Office Savings Account4%2National Savings Recurring Deposit Account6.7%3National Savings Time Deposit AccountStarts at 6.9% (Max. 7.5%)4National Savings Monthly Income Account7.4%6 more rows

The NSC has a maturity period of 5 years. The NSC interest rate is 7.7% per annum compounded half-yearly but payable at maturity. That means, your investment of Rs. 100,000 will yield you Rs. 1,44,903 after 5 years. There is no maximum limit on investment with a minimum amount of investment of Rs.1000.

Verify your mobile Small Savings SchemeInterest RateTenurePost Office Recurring Deposit6.7%5 YearsPost Office Monthly Income Scheme7.4%5 YearsPost Office Time Deposit (1 year)6.9%1 YearPost Office Time Deposit (2 year)7%2 Years8 more rows • Oct 5, 2023

Since SCSS is a government-backed investment scheme, it gives guaranteed returns on a quarterly basis. One can avail the Senior Citizen Savings Scheme through certified banks and post offices in India.