Post Office Term Deposit Scheme: For future planning, you can choose the fixed deposit / term deposit scheme of the post office. You will never face any loss by investing money in this scheme, because your money is safe here.
Post Office Term Deposit Scheme: Tip and top planning for better future. (Investment Planning) If you are planning for investment with less investment, then we have brought a good option for you. For future planning, you can choose the fixed deposit / term deposit scheme of the post office.
You will never face any loss by investing money in this scheme, because your money is safe here. At the same time, investing in it is a very simple option. Let us tell you that the facility of FD / TD is not only in the bank, you can enjoy it in the post office.
The difference is that your money invested in the post office is always safe and also gives a guarantee of return. Let us know about this scheme, which gives a good return on investment.
You can open a term deposit from 1 to 5 years in the post office. This is a Small Savings Scheme. The bank has not made any change in its interest rates from January to March 2022 quarter. This means that the interest which was available in the October-December 2021 quarter, will continue to be available now.
Investment of Rs 1 lakh, you will get Rs 139407
In post office term deposits, 6.7 percent is available annually for 5 years. This means that if a person opens an account by depositing Rs 1 lakh in a term deposit with a maturity period of 5 years, then after 5 years, he will get Rs 139407 in return according to the interest rate of TD. At the same time, the interest rate on one year, 2 year and 3 year term deposits is 5.5% per annum.
Who can open account
In this scheme of post office, any Indian can get single or joint account opened. At the same time, those whose age is more than 10 years or they are mentally weak, they can also open an account in it. To open an account, you can put any amount in it starting from 1000 rupees. Apart from this, investment in post office TD of 5 years gets tax exemption under section 80C of the Income Tax Act.
Rules of Premature Closing
You can close this scheme after the completion of 6 months. On the other hand, if you close the TD after 6 months to the completion of 12 months of the account, then the interest rate of the Post Office Savings Scheme will be applicable and not the term deposit.
What are the facilities available at Post Office TD
- On this you will get nomination service
- Facility to transfer account from post office to another
- Post Office One, TD Account Multiple
- Facility to convert single account to joint or joint account to single
- Account extension facility
- Online account opening facility through intra-operable netbanking/mobile banking
