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

Highlights of Post Office FD Interest Rates

• Highest Post Office TD interest rate: 6.70% p.a. for a tenure of 5 years
• Range of interest rates: 5.50% p.a. to 6.70% p.a.
• Interest rate for a tenure of 1 year: 5.50% p.a.
• Interest rate for a tenure of 2 years: 5.70% p.a.
• Interest rate for a period of 3 years: 5.80% p.a.

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.

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 .

Who can open a Fixed Deposit Account?

A time deposit account with India Post can be opened by:

• A single adult
• Maximum of three adults (in the case of a joint account)
• A Minor who is above 10 years of age
• A guardian on behalf of an individual who is a minor or a person of unsound mind

The post Post Office FD Rates Increased: Good News! Post Office released new FD rates, check new rates here instantly first appeared on Rightsofemployees.com.

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)
1 year 5.50%
2 years 5.50%
3 year 5.50%
5 years 6.70%

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)
60 months 6.70%

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

The post Post Office FD Rates Increased: Big news! Post Office released new FD rates, check new rates here instantly first appeared on Rightsofemployees.com.

Fixed Deposit (FD) is considered very reliable for investment. Most of the people prefer to invest their savings money in this because it gives guaranteed returns and there is no risk of money sinking. If you also want to get strong returns in a safe way by investing in Fixed Deposit ie (FD), then this news is for you only. Unity Small Finance Bank Limited (Unity Bank) has further increased its interest rates on FDs.

Senior citizens will be given an interest of 9 per cent per annum by the bank on FDs invested for a period of 181 and 501 days while retail investors can earn an interest of 8.50 per cent on investments made for the same period. This is the second time in the month of November that the bank has revised its interest rates.

Unity Bank has also increased its interest rates on callable and non-callable bulk deposits (deposits above Rs 2 crore). Callable Bulk Deposits offer an interest rate of up to 8% per annum while non-callable bulk deposits offer an interest rate of up to 8.10% per annum.

Savings account interest rates also increased For savings account, Unity Bank offers an interest rate of 7 per cent per annum on deposits above Rs 1 lakh and 6 per cent on deposits up to Rs 1 lakh.

RBI has increased the repo rate for the fourth time in a row It is noteworthy that in order to stop the rising inflation in the country, RBI has increased the repo rate for the fourth time in a row. Now the repo rate has reached 5.90 percent. In the MPC meeting of RBI on September 30, it has been decided that the repo rate will be increased by 0.50 percent. Now the repo rate has been increased from 5.40 percent to 5.90 percent. Earlier, after 0.40 per cent increase in May, there was an increase of 0.50-0.50 per cent in June and August.

Many banks have increased the rates of fixed deposits, recently RBL Bank, Axis Bank, DCB Bank have also increased their FD rates. This process of increasing the rates has started after the increase in the repo rates of RBI.

The post Good news fo Bank customers, up to 9% interest will be available on FD, check new rates first appeared on Rightsofemployees.com.

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)
1 year 5.50%
2 years 5.50%
3 year 5.50%
5 years 6.70%

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)
60 months 6.70%

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

The post Post Office FD Rates Increased: Big news! Post Office released new FD rates, check new rates here instantly first appeared on Rightsofemployees.com.