INSUBCONTINENT EXCLUSIVE:
Post Office Fixed Deposit (FD): Joint FD account can be opened by two adults.India Post, the postal network of the country, offers several
One popular savings scheme offered by India Post is the Time Deposit (TD) or Fixed Deposit (FD) account
In a post office fixed deposit (FD), one can deposit a lump sum of money for a specific period and avail of features like guaranteed returns
and choice of interest payout
Post office time deposit (TD) or Fixed Deposit (FD) account offers interest rates across four maturities: one year, two years, three years,
Post office time deposit (TD) or Fixed Deposit (FD) account can be opened by cash or cheque.2
The minimum amount that one requires to open a fixed deposit with the post office is Rs 200
This account offers interest rates across four maturities
The following FD interest rates are applicable on deposits according to India Post's official website -
indiapost.gov.in:PeriodRate1yr.A/c6.90%2yr.A/c7.0%3yr.A/c7.20%5yr.A/c7.8%4
The investment under 5 years fixed deposit qualifies for the benefit of Section 80C of the Income Tax Act, 1961, mentioned India Post.5
Nomination facility is available at the time of opening and also after opening of account.6
Account can be transferred from one post office to another.7
can alos open and operate the account
