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Post Office Time Deposits

    Interest payable Annually but calculated quaterely at following rates:
     
    Duraiton of Amount Quarterly Compounded Interest
    1 year 6.25%
    2 year 6.5%
    3 year 7.25%
    5 year 7.5%
  • Minimum amount of deposit is Rs.200/-.

  • No maximum limit.

  • Account can be closed after 6 months but before one year without any interest.

  • Facility of redeposit on maturity of an account.

  • No interest is payable on undrawn interest amount.

  • Account can be opened by an individual, two adults jointly and minor through guardian.

  • A Minor who has attained the age of 10 years can open the account in his/her own name to be operated directly.

  • Non Resident Indian / HUF can not open the account.

  • Any number of accounts can be opened.

  • Two, three and Five years accounts can be closed after one year at a discounted rate of interest.

  • Deposits not drawn on maturity are eligible to saving account interest rate for a maximum period of two years.

  • Account can be pledged as security against a loan to banks/ Government institutions.

  • Accounts are transferable from one Post office to any Post office in India.

  • Rebate under section 80-C is not admissible.

  • Interest income is taxable.

  • Deposits are exempt from wealth tax

  • No T.D.S.
  • FAQ's On Small Savings here
  • Ask your question's to our Time Deposit's Expert Advisor here

 

Sameer Trivedi
1, Pradhyuman Park, Opp.Sahjanand College Nr. Shyamak Complex, Ambawadi, Ahmedabad-380015. Gujarat, INDIA.
+91-9825472919

sameer.lic@gmail.com