The India Post (Department of Posts), is the major postal system in India and is widely distributed in the world. Post office time deposit (POTD) is an alternative to the bank fixed deposits (FD) for those looking for fixed income. Post Office Fixed Deposit/ Time Deposit (POFD) Scheme is similar to a bank fixed deposit, where you can deposit money for a fixed time period and earn a guaranteed return on that.This is a good investment option for those who want to deposit a lump sum for a fixed tenure. Another lucrative scheme that offers similar rates and a lot of flexibility is the Monthly Income Scheme (MIS) from India Post and is available for opening across all post offices. From security point of view, the security of your deposit in the Post Office deposit is maximum as it guarantees the government. Now you have to decide how many tenures you want to opt-out for it. Most banks also have the option of an online FD account. Minors 10 years or older can also open and manage these accounts; However, after completing the age of 18, the mines will have to apply to change the account in their name In terms of investments that offer assured returns, fixed deposits and recurring deposits from banks as well as the postal department might be well known to people from across India. So your Investment amount to Double when invested into Post Office FD, will require 10 years and 4 months. Deposit Post Office NOTICE: The Postal Service is an essential government service, and will remain open wherever possible. The rate and the time period normally remain fixed for one quarter. Post Office Time Deposit (TD) Account or Fixed Deposit (FD) Account: The features of FD accounts are similar to that of RD accounts. Post Office FD/RD Interest Rate: Designated post office branches offer fixed as well as recurring deposit accounts among the nine government … Post Office Monthly Income Scheme. A post office time deposit will get auto-renewed on maturity and the interest rate on the date of maturity will be applied to the renewed deposit. 1,000 and there is no maximum limit. That is the reason we wholeheartedly suggest Post Office Fixed Deposits whenever you are thinking of having FDs or Fixed Deposits put in place, for yourself or for your family. 8 Dean St, Deposit, NY 13754. Post Office Time Deposit. This interest is the minimum annual deposit amount of Rs. Post Office Fixed Deposit Features: Department of Posts, Government of India, (Postal Department) Ministry of Communications, Post Office fixed deposit account (Post office Fixed Deposit Accounts) to offer attractive interest with terms ranging from 1 year to 5 years Rates Offer. Variable: A variable rate of interest can go up or down throughout the lifetime of a savings account. The highest interest ever offered was 13.5% for 5 years FD from 1 st October 1991 to 1 st September 1993. Post Office Fixed Deposit Scheme in Hindi||Post Office FD Scheme Post Office Fixed Deposit scheme is very popular scheme of post office. Most of the larger size banks in the country have dropped interest rates sharply. For one-year time deposit to three years, it offers an interest rate of 5.5%. Online; Find out more > 0.40% gross/AER fixed for 2 years (annual rate) Monthly rates available. Fixed: A fixed rate of interest does not fluctuate and remains the same through out the lifetime of a savings account. Post Office fixed deposit interest rate, in comparison to some banks, is better and gives investors better opportunities to earn. The fixed deposit interest rate currently varies from 6.9% to … AER: AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. The interest on Post Office deposits was revised on 1 April 2020. The post office fixed deposit scheme in India consists of a bucket list of the products that offer reliability and risk-free return on investment. It was the year 1854 when Lord Dalhousie (Governor-General of India then) formed Indian Post. It is safer than than an FD because the principal invested and interest earned are backed by sovereign guarantee. Introduction. There is no limit on the number of accounts that can be opened. Depositors can open multiple FD accounts in any post office. Investing in Post Office Time Deposit, Post Office Recurring Deposit, Post Office Monthly Income Scheme, National Savings Certificate (NSC) and Kisan Vikas Patra (KVP) in a given quarter will lock … India Post gives you the choice of investment tenure. Detail about Post Office Fixed Deposit, rules, rate of interest and other useful information about Post Office FD in Hindi. Since then this agency of the government is serving India in its 23 circles with 1, 55, 000 post offices. The duration of these FD is 1-year, 2-years, 3-years and 5-years. New Delhi: Fixed Deposits (FDs) are considered one of the safest and most popular means of investment for many.SBI's fixed deposit rates have fallen by anywhere between 85 basis points to 160 basis points since the beginning of 2020. Post Office FD Scheme. What is a Post Office Fixed Deposit? Post office fixed deposits range from 1 year to 5 years. At present, post Office time deposits besides bank fixed deposits are also a good option for investment. Post office deposit rates are between 8.2% to 8.5% p.a. TDS; For Post office term deposit, there is no TDS deducted by Post office. Opening the deposit … Post Office Fixed Deposit in Hindi पोस्ट ऑफिस फिक्स्ड डिपॉजिट Post Office FD English Summary . Post Office Time Deposit, also known as Post Office Fixed Deposit, is a fixed deposit scheme similar to bank FD. A fixed deposit is an investment scheme that allows one to deposit in fixed deposits in order to earn interest on the investment. Company Fixed Deposit vs. Post Office Fixed Deposit – Know Interest Rates in December 2020 Admin January 1, 2021 0 Comment As you research before setting up an option of investment avenues, in the same way, you need to research to get the best returns on fixed deposits … Bank Fixed Deposit: Bank FD can be opened in any bank. Deposit from £500 - £2million; Open with a single direct debit payment, cheque or transfer from an existing Post Office Savings account; 0.35% gross/AER fixed for 1 year (annual rate) Monthly rates available. Post Office Fixed Deposit interest rate. The post office Fixed Deposit (FD), also known as ‘National Savings Time Deposit Account(TD)’ is a convenient alternative to the fixed deposits provided by banks. The post office time deposit is an alternative to the bank fixed deposits (FD) for those looking for fixed income. 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