Fixed Deposit Rates Post Office

alt="fixed deposit rates post office"

Fixed Deposit Rates Post Office

Post office fixed deposits, officially called ‘post office time deposit accounts’, is a government-backed scheme. Under this scheme, investors can park their money in PAN India of any post office. It is also highly affordable and thus a highly preferred option by a large segment of the population. Further, the deposit for 5 years qualifies as a tax saving scheme which means that deduction u / s 80C of Income Tax Act, 1961, up to Rs. 1.5 lakhs / financial year.

alt="fixed deposit rates post office"

Advantages of Opening a Post Office Fixed Deposit Account

In India, there is various fixed store plans offered by different open and private area banks yet at the same time, a dominant part of individuals wants to go with Post office fixed stores over them inferable from these reasons:

Higher pace of premium: Post office FD financing costs are relatively higher than the what market has to bring to the table. At present, the pace of intrigue ranges from 6.9% to 7.3%

Guaranteed Returns: Post office stores are upheld by the administration of India and are accordingly totally safe to contribute and guarantees ensured returns on the speculation.

Liquidity: Like banks, mailing stations likewise have a store lock-in period. In any case, stores can be pulled back rashly if there should arise an occurrence of any crisis.

Swelling Protection: Whenever the expansion rate plunges beneath the term store loan fee, the investor acquires more

Danger free: Post office fixed store is absolutely hazard free speculation as regardless of what the economic situation may be, you will get total profits for development.

Expense Implications: Depositors can guarantee up the assessment to a limit of Rs. 1,50,000 under Section 80C of the IT Act, 1961 whenever put resources into 5-year term stores.

alt="fixed deposit rates post office"

Who Should Invest in Post Office FD?

Post Office fixed/time deposit scheme conspire is appropriate for the individuals who have a place with the low-center salary gathering. Housewives ought to likewise coordinate their reserve funds towards this plan since TDS (Tax Deducted at Source) isn’t material to the ventures made in Post Office FD. If you have kids over the age of 10 years, you ought to support them towards putting resources into this plan. This would help teach the propensity for sparing which would demonstrate valuable in future. Since the plan is brought India Post, which is a completely possessed endeavor by the Government of India, the security of your cash is prime. All being stated, you ought to anticipate unassuming returns and hold for good 3-5 years to receive the greatest rewards.

Post Office FD Rates

India post-fixed deposit schemes plans offer alluring degrees of profitability, contingent upon the development residency chose by a financial specialist. Residencies go somewhere in the range of one and five years. The table beneath separates the premium income dependent on speculation residency.


Tenure Non-senior citizen and NRO FD (%) Senior citizen FD (%)
1 Year 6.90% per annum NA
2 Year 6.90% per annum NA
3 Year 6.90% per annum NA
5 Year 7.70% per annum NA


Add a Comment

Your email address will not be published. Required fields are marked *