Search results
Learn about the various savings schemes offered by India Post, such as SB, RD, FD, PPF and more. Find out the interest rates, eligibility, features, benefits and rules of each scheme.
Apr 1, 2024 · Compare the interest rates and features of post office fixed deposits (FD) for different tenures and tax benefits. Learn how to open, extend, close and transfer PO FD accounts online.
- The highest Post Office FD interest rate is 7.50% for deposits maturing in 5 years. This rate applies from 1 July 2023 to 30 September 2023.
- At an interest rate of 6.9%, a post office fixed deposit investment will double in approximately 11 years.
- Both Bank FD and Post office FD are almost the same. But, there are certain features that are different between the two. Bank FDs are governed by i...
- Yes. Customers need to have a valid single or joint Savings Account (B) to open Post Office Time Deposit online.
- There is no maximum limit. However, the minimum amount required to open the FD is Rs 1,000.
- Yes. Investments made in Post Office term deposit account (fixed deposit) are India Post’s product and are offered under its National Savings Schem...
- To break the FD, one should wait till 6 months from the date of opening the account. Post that, premature withdrawal is allowed.
- At present, this facility is not mentioned.
- It can be opened with a maximum of 3 members.
- An investment made for a period of 5 years can be claimed for tax deductions u/s 80C of the Income Tax Act, 1961.
- The post office fixed deposits’ tenure ranges from 1 year to 5 years.
- Depositors can open multiple FD accounts in any of the post offices.
- Minors of 10 years of age or more can also open and manage these accounts as well.
- Minors, however, will have to apply to convert the account in their name once they hit 18 years.
Calculate interest and returns on post office fixed deposit (FD) with this online tool. Compare post office FD with bank FD and other investment options at Groww.in.
- To use the FD calculator available here, one should need to have the following details beforehand: Total investment (the amount you invested) Numbe...
- The minimum amount required to open an FD account in the post office is ₹200 and in multiples thereof. However, there is no upper limit on the depo...
- Yes, the interest income is taxable.
- Premature withdrawal or closure of the post office FD account is permitted after the completion of six months of opening the deposit. If a time dep...
6 days ago · Learn about the features, benefits, and interest rates of post office fixed deposit schemes for 2024. Compare post office FD with other tax-saving investments and bank FD plans.
The Post Office Fixed Deposit (POFD), also known as ‘Post Office Time Deposit,’ is a convenient alternative to bank fixed deposits. Through this fixed deposit scheme offered by the Indian Postal Services, an individual can earn a guaranteed return on the money deposited for a fixed period of time.
People also ask
What is a post office FD?
What is post office fixed deposit (pofd)?
What is the FD interest rate for post office?
What is post office FD scheme?
6 days ago · Post Office FD calculator (PO FD Calculator), also known as National Savings Time Deposit Account Calculator, calculates the maturity value and interest amount for different fixed deposit amounts and tenures.
