Post Office FD: Many people who save with Indian post offices invest in fixed deposits. FDs are considered a safe investment, especially for major expenses like weddings. However, the question arises: should they be allowed to withdraw their funds if they need them before maturity? Recently, the Orissa High Court issued an important ruling on this issue, bringing significant relief to the general public.

What was the matter?

A woman had deposited her money in five fixed deposit schemes. The term of these fixed deposits was five years. However, her marriage was imminent, so she needed to withdraw money from her deposit immediately. She applied for premature withdrawal at the post office, but the post office rejected her request. According to post office rules, withdrawals before the five-year term were not possible.

Following this rejection, the woman filed a case in the Orissa High Court. Through her lawyers, she told the court that she needed to withdraw her FD prematurely due to wedding expenses.

Post Office Rules and Arguments

Rule 8(d) of the Post Office Term Deposit Scheme clearly states that deposits cannot be withdrawn before the completion of four years. However, Rule 8(d) amended in the notification dated November 7, 2023, stated that premature withdrawals are not completely prohibited. It also stated that if the funds are withdrawn after four years, the interest rate will be different.

Post Office lawyers argued in court that the rules are clear and withdrawals cannot be permitted before the completion of four years because the deposit period is five years. They said that the rules are the law and must be followed.

What did the High Court say?

The bench headed by Justice Dixit Krishna Sripada stated that the money belongs to the woman and that the need for money for the wedding is a legitimate emergency. Because of this, the woman’s emergency needs cannot be ignored. The court also pointed out that Rule 8(d) does not completely prohibit premature withdrawals. This rule only states that the interest rate on withdrawals after four years will be different. This does not mean that withdrawals are impossible.

Finally, the Orissa High Court upheld the post office’s refusal and told the woman that she could withdraw her deposit within two weeks. The court stated that allowing premature withdrawals due to her marriage was necessary to complete the ceremony. Furthermore, any delay in withdrawing the funds would attract a penalty of 1% per month on the interest.

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The post Post Office FD : Can you now withdraw your FD money even before it matures? What is the High Court’s decision? first appeared on Rightsofemployees.com.

Know what you have to do

To triple your money in the post office, you have to choose a 5-year FD. You have to invest in this scheme and extend it before it matures. You have to do this extension 2 times in a row, which means you have to run this FD for 15 years.

More than 20 lakh interest on investment of 10 lakh

If you invest Rs 10 lakh in this FD, then at the rate of 7.5 percent interest, you will get Rs 4,49,948 interest on this amount in 5 years. In this way, the total amount will be Rs 14,49,948. But if you extend this scheme for 5 years, then you will get Rs 11,02,349 only as interest and after 10 years your total amount will be Rs 21,02,349. You will have to extend it once more before it matures. In such a situation, in the 15th year, you will get Rs 20,48,297 only as interest on an investment of Rs 10 lakh.

You will get Rs 30,48,297 on maturity

In this way, you will get a total of Rs 30,48,297 on maturity, that is, you will get twice the interest than your principal and will triple your amount.

This is how the extension will have to be done

Post Office 1 year FD can be extended within 6 months from the date of maturity, 2 year FD within 12 months of maturity period and for extension of 3 and 5 year FD, the post office has to be informed within 18 months of maturity period. Apart from this, you can also request account extension after maturity at the time of opening the account. The interest rate applicable to the respective TD account on the day of maturity will be applicable for the extended period.

How much interest is there on the rest of the post office FDs

Different post office FDs offer different interest rates. 1 year FDs offer 6.90% per annum, 2 year FDs offer 7.00% per annum, 3 year FDs offer 7.10% per annum and 5 year FDs offer 7.50% per annum.

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The post Post Office FD: if you deposit ₹ 10,00,000 then you will get more than ₹ 20,00,000 interest first appeared on Rightsofemployees.com.

State Bank of India offers interest ranging from 3.50 percent to 7.25 percent on FDs. While on post office time deposits, customers are offered interest ranging from 6.9 percent to 7.5 percent.

How much return will you get on a 5 year FD?

If investors want to invest in a 5 year FD, then State Bank of India will give 6.5 percent return. While the post office gives 7.5 percent return for this period.

Returns on 5-year FD in SBI

• Amount invested: ₹3,50,000
• Interest rate: 6.50% per annum
• Estimated return: ₹1,33,147
• Total value at maturity: ₹4,83,147

Return on 5-year term deposit in post office

• Amount invested: ₹3,50,000
• Interest rate: 7.50% per annum
• Estimated return: ₹1,57,482
• Total value at maturity: ₹5,07,482

Higher profit in Post Office than SBI

If you invest Rs 3.5 lakh in SBI for 5 years, you will get Rs 1,33,147 interest at the rate of 6.5 percent. Thus, you will get a total of Rs 4,83,147 at maturity. If you invest Rs 3.5 lakh in Post Office Time Deposit for 5 years, you will get an interest of Rs 1,57,482 at the rate of 7.5 percent. Thus, you will get a total of Rs 5,07,482 at maturity.

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The post SBI FD Vs Post Office FD: Where is the higher profit on 5 year FD? Key Details Here first appeared on Rightsofemployees.com.

Post Office FD: Like banks, post office investment is also considered very safe. In this, the government guarantees the safety of your money. Many schemes are run in the post office, but here we will talk to you about Post Office Time Deposit, which we call Post Office FD in common language. Post Office FD: Like banks, you can get options of FDs of different tenures in the post office. 5-year FDs are getting 7.5 percent interest. Along with this, you can also get tax benefits under Income Tax Act 80C. In such a situation, if you invest in this scheme, you can triple your money. For this, you have to do just one thing.

Know what you have to do

To triple your money in the post office, you have to choose a 5-year FD. You have to invest in this scheme and extend it before it matures. You have to do this extension 2 times in a row, that is, you have to run this FD for 15 years. If you invest Rs 10 lakh in this FD, then according to the interest rate of 7.5 percent, you will get Rs 4,49,948 interest on this amount in 5 years. In this way, the total amount will be Rs 14,49,948.

Also Read- ICICI Bank changed the credit card rules for the second time, took away many of your benefits

But if you extend this scheme for 5 years, then you will get Rs 11,02,349 only as interest and after 10 years your total amount will be Rs 21,02,349. You will have to extend it one more time before it matures. In this case, on the 15th year, you will get Rs 20,48,297 on an investment of Rs 10 lakh only as interest. On maturity, you will get Rs 30,48,297. That is, you will get twice the interest than your principal and triple your amount.

Understand the rules of extension

1 year FD of post office can be extended within 6 months from the date of maturity, 2 year FD within 12 months of maturity period and for extension of 3 and 5 year FD, the post office has to be informed within 18 months of maturity period. Apart from this, you can also request for account extension after maturity at the time of opening the account. The interest rate applicable to the respective TD account on the day of maturity will be applicable for the extended period.

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The post Post Office FD: ₹30,00,000 will be available on investment of ₹10,00,000, know details first appeared on Rightsofemployees.com.

At present you are getting interest at the rate of 6.7 percent on Post Office RD. The advantage of RD is that if you cannot invest a large amount in lump sum, then you can invest a fixed amount every month by choosing the option of Post Office RD.

Post office RD is for 5 years. In such a situation, you can earn profit at 6.7 percent interest after 5 years. But if you can deposit a lump sum amount, then post office FD will be a profitable deal for you. In this, you will get so much interest even on 1 year investment, which will not be available even on 5 year RD. Know here how much an investment of Rs 1 lakh in post office FD will amount to in 1, 2, 3 and 5 years.

1 year post office FD

If you invest Rs 1 lakh in post office FD for a year, then you will be given interest at the rate of 6.9. In such a situation, after one year you will get interest of Rs 7,081 on Rs 1 lakh and a total of Rs 1,07,081 will be returned after one year.

2 year FD

If you make an FD of Rs 1 lakh in the post office for 2 years, then you will be given interest at the rate of 7 percent. In such a situation, after two years you will get Rs 14,888 as interest and you will get a total of Rs 1,14,888 back.

3 year FD

If you make FD of 1 year for 3 years in the post office, you will get interest at the rate of 7.1 percent. In this case, interest of Rs 23,508 will be available at the rate of 7.1 percent. In this way, after three years you will get a total of Rs 1,23,508 back.

5 year FD

If you make a 1 year FD in the post office for 5 years, then you will get interest at the rate of 7.5 percent. In such a situation, you will get Rs 44,995 on investment in 5 years. In this way, after 5 years you will get a total of Rs 1,44,995.

The post RD Vs FD: Know how much return you will get on post office FD of 1, 2, 3, and 5 years, check all details first appeared on Rightsofemployees.com.

Small Saving Scheme is the best option for people looking for a fixed income investment option. These schemes include Public Provident Fund (PPF), National Savings Certificate and Post Office Saving Scheme. All these saving schemes are being run by the government. The returns received on this are guaranteed. These are the interest rates on small savings schemes.

What are Small Saving Schemes?

Small Savings Scheme motivates citizens to save regularly. These schemes are of three types. Saving Schemes, Social Security Schemes and Monthly Income Schemes. Saving schemes include 1 to 3 year deposit scheme, 5 year RD. Savings certificates like National Savings Certificate (NSC) and Kisan Vikas Patra (KVP) are also included. Social security schemes include Public Provident Fund (PPF), Sukanya Samriddhi Yojana and Senior Citizen Saving Scheme.

Interest on small savings scheme

Saving Account – 4 percent

1 year post office FD – 6.9 percent

2 year post office FD – 7.0 percent

3 year post office FD – 7 percent

5 year post office FD: 7.5 percent

5 year RD: 6.70 percent

National Savings Certificate (NSC): 7.7 percent

Kisan Vikas Patra: 7.5 percent (mature in 115 months)

Public Provident Fund: 7.1 percent

Sukanya Samridhi Account (Sukanya Samridhi Yojana): 8.0 percent

Senior Citizen Saving Scheme: 8.2 percent

Monthly Income Scheme: 7.4 percent

Among big banks, HDFC Bank is offering maximum interest of up to 7.75 percent on FD. SBI is giving interest up to 7.50 percent annually on FD. The government is offering interest ranging from 4 percent to 8.2 percent on small savings schemes. The government will revise the interest rates on such schemes for October-December 2023 later this month. It is believed that there is little scope for change in these.

The post How much interest is being received on PPF, Post Office FD and RD, check interest rate first appeared on Rightsofemployees.com.

If you are looking for an investment option where your money remains secure and you also get better profits, then FD has always been a good option for this. FD i.e. Fixed Deposit, you will get this option in all the banks. But if you want, this time you can try Post Office FD instead of bank.

Post Office FD is called Post Office Time Deposit. You get the option of FD for 1, 2, 3 and 5 years in the post office. If you deposit money in this for 10 years, you can more than double your amount. At present, interest is available at the rate of 7.5 percent on 5 year FD.

Know how to make double more money

At present, interest is available on post office FD at the rate of 7.5 percent. Suppose you deposit Rs 5 lakh in the post office, then at the rate of 7.5 percent you will get interest of Rs 2,24,974 lakh on it. In this way, in 5 years your amount will become Rs 7,24,974. Now if you deposit it again for 5 more years, then this amount will mature to Rs 10,51,175, which is more than double.

Interest on FD of one to five years

If fixed for 1 year – 6.9% If
fixed for 2 years – 7.0% If
fixed for 3 years – 7.0% If
fixed for 5 years – 7.5%

The post Post Office FD Scheme: Deposit Rs 5 lakh, you will get Rs 10,51,175, which means more than double profit first appeared on Rightsofemployees.com.

FD means Fixed Deposit, you will get this option in all the banks. But if you want, this time you can try Post Office FD instead of bank. Post Office FD is called Post Office Time Deposit. You get the option of FD for 1, 2, 3 and 5 years in the post office. If you deposit money in it for 10 years, then you can more than double your amount. At present, interest is being received at the rate of 7.5 per cent on 5-year FD.

Know how to make double more money

At present, interest is available on post office FD at the rate of 7.5 percent. Suppose you deposit Rs 5 lakh in the post office, then at the rate of 7.5 percent you will get interest of Rs 2,24,974 lakh on it. In this way, in 5 years your amount will become Rs 7,24,974. Now if you deposit it again for 5 more years, then this amount will mature to Rs 10,51,175, which is more than double.

Interest on FD of one to five years

If fixed for 1 year – 6.9% If
fixed for 2 years – 7.0% If
fixed for 3 years – 7.0% If
fixed for 5 years – 7.5%

The post Post Office’s great Plan! Deposit Rs 5 lakh for 10 years in this post office scheme, you will get Rs 10,51,175, which means more than double profit. first appeared on Rightsofemployees.com.

Post Office FD is also called Time Deposit. You can deposit money in post office time deposit for 1,2,3 and up to 5 years. At present, if you invest money in the post office time deposit scheme for 5 years, then you will get interest at the rate of 7.5 percent.

Suppose you invest Rs 5,00,000 in post office FD, then after 5 years at 7.5%, you will get Rs 2,24,974 as interest on it. Including principal and interest on maturity, a total of Rs 7,24,974 will be received.

But if you want to double this amount, then you do not have to withdraw this amount after maturity, but you have to fix it again for 5 years. After 5 years, according to the current interest rate, interest of Rs 3,26,201 will be added on this. In this way, you will get Rs 5,51,175 only as interest on an investment of Rs 5 lakh and after 10 years you will get a total of Rs 10,51,175.

This is the current interest rate according to the year

Fixed for 1 year – 6.8%
Fixed for 2 years – 6.9%
Fixed for 3 years – 7.0%
Fixed for 5 years – 7.5%

The post Post Office’s Great scheme – invest once, the amount will more than double in 10 years first appeared on Rightsofemployees.com.

The interest rate also varies from year to year. Recently the post office has increased the interest rates of FD. In such a situation, now you will get more interest than before on making a fixed deposit in the post office. If you are also thinking of getting FD done in the post office, then know here how much benefit you will get with the increased interest rates in 1, 2, 3 and 5 years.

1 year FD

At present, interest is being received at the rate of 6.8 per cent on the 1-year FD of the post office, which was earlier 6.6 per cent. Suppose if you get an FD of 2 lakhs done for one year, then you will get Rs 13,951 only as interest at the rate of 6.8 per cent. In this case, after one year you will get a total of Rs 2,13,951.

2 year FD

On the other hand, if you are thinking of getting an FD for two years, then interest is being received at the rate of 6.9 per cent on the two-year FD. Before April 1, this interest rate was 6.8. In such a situation, if you get an FD of 2 lakhs done for two years, then you will get a total of Rs 29,325 as interest. In this way you will get a total of Rs 2, 29,325.

3 year FD

At the same time, from April 1, 3-year post office FD is now getting interest at 7 percent, which was earlier at 6.9 percent. If you get an FD of 2 lakhs for 3 years, you will get Rs 46,288 as interest at the rate of 7%, in this way you will get Rs 2, 46,288 on maturity.

5 year FDz

If you get 5 years FD done, then you will get interest at the rate of 7.5 percent. Before April 1, this interest rate was 7 percent. In this way, on getting an FD of 2 lakhs done for 5 years, you will get Rs 89,990 as interest. In this way you will get a total of Rs 2, 89,990 after 5 years.

The post Post Office FD: ₹ 2,00,000 invested in Post Office Time Deposit FD, what will be the return in 1, 2, 3 and 5 years, see here 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

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 Issued New FD Rates: Big news! Post Office released new FD rates Today, check new rates here Immediately 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.

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 Issued New FD Rates : Big news! Post Office released new FD rates Today, check new rates here Immediately 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.

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.

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.

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.

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