LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » Personal Finance News

Post Office Time Deposit: Interest rate, tax benefits explained

Post Office Time Deposit (also, often called as Fixed Deposit) is one of the easiest options for saving money and earning interest rate up to 7.8 per cent.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Post Office Time Deposit: Interest rate, tax benefits explained
The investment under 5 Years TD in post office qualifies for the benefit of Section 80C of the Income Tax Act, 1961. Representational image/Reuters
Written By: ZeeBiz WebTeam
Updated: Thu, Jun 06, 2019
07:00 pm
New Delhi, ZeeBiz WebDesk
RELATED NEWS
Postal Life Insurance – Post Office ‘Suvidha’ policy for Govt employees! See features of this endowment scheme here! Postal Life Insurance – Post Office ‘Suvidha’ policy for Govt employees! See features of this endowment scheme here!
Postal Life Insurance – Post Office ‘Suraksha’ policy for Government Employees! Know features, benefits here! Postal Life Insurance – Post Office ‘Suraksha’ policy for Government Employees! Know features, benefits here!
Post Office Scheme: You can deposit money online in your Public Provident Fund (PPF) account — here is how Post Office Scheme: You can deposit money online in your Public Provident Fund (PPF) account — here is how
Have bank FD beyond Rs 5 lakh? BEWARE! You may lose your money; here is how to stop it Have bank FD beyond Rs 5 lakh? BEWARE! You may lose your money; here is how to stop it
SBI Vs HDFC Bank Vs ICICI Bank Vs Post Office FD: How to earn more money | EXPLAINED SBI Vs HDFC Bank Vs ICICI Bank Vs Post Office FD: How to earn more money | EXPLAINED

Post Office Time Deposit (also, often called as Fixed Deposit) is one of the easiest options for saving money and earning interest rate up to 7.8 per cent. You can open Time Deposit (TD) account in the post office by cash, or cheque. According to the official Post Office website, if you make payment by cheque then the date of realisation of the cheque in the government account is considered as the date of opening of the time deposit account. The post office also provides the nomination facility at the time of opening. In case, you miss it at the time of opening the TD account, you can avail the nomination facility even after opening the account. 

You can also transfer the Post Office time deposit account from one post office to another. An individual can open any number of TD accounts in any post office. It can be opened in the name of a minor. The minor of 10 years and above age can open and operate the account, Post office also provides joint TD account, which can be opened by two adults. Even the single account can be converted into Joint and Vice Versa. 

Post Office Time Deposit: Interest Rates

Period       Rate
1yr.A/c -   7.0%
2yr.A/c  - 7.0%
3yr.A/c   - 7.0%
5yr.A/c   - 7.8 %

When any TD account matures in CBS post offices, it gets automatically renewed for the period for which the account was initially opened. For example, the 2-year TD account will be automatically renewed for 2 years. The interest rate applicable on the day of maturity will also be applied.

Tax benefit: The investment under 5 Years TD in post office qualifies for the benefit of Section 80C of the Income Tax Act, 1961. 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Post OfficeFixed Deposit
RELATED NEWS
Postal Life Insurance – Post Office ‘Suvidha’ policy for Govt employees! See features of this endowment scheme here! Postal Life Insurance – Post Office ‘Suvidha’ policy for Govt employees! See features of this endowment scheme here!
Postal Life Insurance – Post Office ‘Suraksha’ policy for Government Employees! Know features, benefits here! Postal Life Insurance – Post Office ‘Suraksha’ policy for Government Employees! Know features, benefits here!
Post Office Scheme: You can deposit money online in your Public Provident Fund (PPF) account — here is how Post Office Scheme: You can deposit money online in your Public Provident Fund (PPF) account — here is how
Have bank FD beyond Rs 5 lakh? BEWARE! You may lose your money; here is how to stop it Have bank FD beyond Rs 5 lakh? BEWARE! You may lose your money; here is how to stop it
SBI Vs HDFC Bank Vs ICICI Bank Vs Post Office FD: How to earn more money | EXPLAINED SBI Vs HDFC Bank Vs ICICI Bank Vs Post Office FD: How to earn more money | EXPLAINED

LATEST NEWS

Pensioners ALERT: RUSH! Last date to submit digital life certificate tomorrow—Avail doorstep service from SBI, PNB, BoB and other banks

Maharashtra board exams for Classes 12, 10 to begin on April 23, 29

CBSE exam 2021: Class 10, 12 students should know THESE 10 points before appearing for board exams

7th Pay Commission: CONFIRMED! 3% DA, DR hike for government employees, pensioners of THIS state from March 1

PM Narendra Modi to inaugurate India Toy Fair today

Apple, Croma join hands on Jobs'' birth anniversary

Bank Holidays March 2021: RBI says banks will remain closed on these many days next month

7th Pay Commission Latest News: Check out these vacancies notified by UPSC; salary up to Rs 1,77,500 plus DA and other allowances

UKPSC ACF Mains Admit Card 2019 admit card released on ukpsc.gov.in—Here is how to download

Sovereign Gold Bond Scheme 2021: Issue Price fixed at Rs 4,662/gm

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved