Post Office FD: If you are looking for a safe investment option, then FD can be a better option.
Benefits of Post Office FD
Investing in Post Office FD gives you many benefits. The most important thing is that in this you will get government guarantee along with returns. Here you get the facility of interest on quarterly basis. Investing in an FD at the post office is very easy. You can get FD done in the post office for different tenures including 1, 2, 3 or 5 years.
Indian Post Office Department, Ministry of Communications, Government of India offers fixed deposit accounts that offer attractive interest rates with tenors ranging from 1 year to 5 years. Interest is payable annually, with a minimum deposit amount of Rs 1,000 and no maximum limit.
Post Office Fixed Deposit Rates
|deposit period||Post Office FD Rates (per annum)|
Post Office FD Rate Interest rates are subject to change as per requirement. These interest rates are effective from 1st April 2020.
5 Year Fixed Deposit Rates for Tax Saving Post Office
If you open a Fixed Deposit (FD Account) with the Post Office for a period of 5 years, you will be eligible to claim tax benefits under Section 80C of the Income Tax Act, 1961.
|tenure||Regular Post Office FD Rates (per annum)|
Post Office FD Interest Rates are subject to change as per requirement. These interest rates are effective from 1st April 2020.
Post Office Time Deposit Account
Post Office Fixed Deposit Account (TD) account, also known as Post Office Fixed Deposit (FD) account can be opened with a minimum of Rs 1,000 in multiples of Rs 100 without any limit .
Key Features of Post Office FD Interest Rates
- Highest Post Office TD Interest Rate : 6.70% per annum for 5 years tenure
- Range of interest rates: 5.50% p.a. to 6.70% p.a.
- Rate of interest for tenure of 1 year: 5.50% p.a.
- Rate of interest for tenure of 2 years: 5.50% p.a.
- Rate of interest for tenure of 3 years: 5.50% p.a.
Who Can Open a Fixed Deposit Account
Fixed Deposit Account can be opened in India Post:
- a single adult
- Maximum three adults (in case of joint account)
- A minor who is more than 10 years of age
- A guardian on behalf of a person who is a minor or a person of unsound mind