Post Office Time Deposit Account (Scheme) – Interest Rates (1.01.2018)

Post Office Time Deposit Account, Post Office Time Deposit Scheme. check complete details for “Post Office Saving Schemes”. Check Rate of Interest of “Post Office Time Deposit Account”. In this article we provide complete details for Post Office Time Deposit Scheme like – Benefits of Post Office Time Deposit Account, Rate of Interest in Post Office Time Deposit Account, Minimum and Maximum Deposit Criteria of Post Office Time Deposit Account Scheme etc. Now scroll down below n check more details for  “Post Office Time Deposit Account, Post Office Time Deposit Scheme”

Post Office Time Deposit Account

​In CBS Post offices ,when any TD account is matured, the same TD account will be automatically renewed for the period for which the account was initially opened e.g 2 Years TD account will be automatically renewed for 2 Years. Interest rate applicable on the day of maturity will be applied.

Post Office Time Deposit Account

Rate of Interest of Post Office Time Deposit Account

Interest payable annually but calculated quarterly.

From 1.01.2018, interest rates are as follows:-

Period Rate
1 yr. A/c 6.6%
2 yr. A/c 6.7%
3 yr. A/c 6.9%
5 yr. A/c 7.4%

Deposit Amounts are as follows:-

Type of Account Minimum Deposit Maximum Deposit
1, 2, 3 & 5 Year TD INR. 200/- and in multiples of INR. 200/- thereafter No limit

Salient features including Tax Rebate

  • Account may be opened by individual
  • Account can be opened by cash /Cheque and in case of Cheque the date of realization of C​heque in Govt. account shall be date of opening of account
  • Nomination facility is available at the time of opening and also after opening of account
  • Account can be transferred from one post office to another
  • Any number of accounts can be opened in any post office
  • Account can be opened in the name of minor and a minor of 10 years and above age can open and operate the account
  • Joint account can be opened by two adults.
  • Single account can be converted into Joint and Vice Versa
  • Minor after attaining majority has to apply for conversion of the account in his name
  • *In CBS Post offices ,when any TD account is matured, the same TD account will be automatically renewed for the period for which the account was initially opened . Example​ 2 Years TD account will be automatically renewed for 2 Years. Interest rate applicable on the day of maturity will be applied
  • The investment under 5 Years TD qualifies for the benefit of Section 80C of the Income Tax Act, 1961 from 1.4.2007.

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