Post Office Saving Schemes​ Time Deposit Account

                     Post Office Saving Schemes​

                                Time Deposit Account

                                      

Overview

• Account may be opened by individual.
• Account can be opened by cash/ Cheque and in case of Cheque the date of realization of C​heque in Govt. account shall be date of opening of account.
• Nomination facility is available at the time of opening and also after opening of account.
• Account can be transferred from one post office to another.
• Any number of accounts can be opened in any post office.
• Account can be opened in the name of minor and a minor of 10 years and above age can open and operate the account.
• Joint account can be opened by two adults.
• Single account can be converted into Joint and Vice Versa.
• Minor after attaining majority has to apply for conversion of the account in his name.
• The investment under 5 Years TD qualifies for the benefit of Section 80C of the Income Tax Act, 1961 from 1.4.2007.
* ​In CBS Post offices ,when any TD account is matured, the same TD account will be automatically renewed for the period for which the account was initially opened. Example​ 2 Years TD account will be automatically renewed for 2 Years. Interest rate applicable on the day of maturity will be applied.
Interest Rate
* ​In CBS Post offices ,when any TD account is matured, the same TD account will be automatically renewed for the period for which the account was initially opened. Example​ 2 Years TD account will be automatically renewed for 2 Years. Interest rate applicable on the day of maturity will be applied.
​
Interest payable annually but calculated quarterly.

From 1.07.2017, interest rates are as follows:-

Interest data details

Period	Rate
1 yr. Account	6.8%
2 yr. Account	6.9%
3 yr. Account	7.1%
5 yr. Account​	7.6%

Deposit Amounts​ are as follows:-

Deposit amount details

Type of Account	Minimum Deposit	Maximum Deposit
1, 2, 3 & 5 Year TD	INR. 200/- and in multiples of INR. 200/- thereafter	No limit

There are other interesting and beneficial schemes like 


Sukanya Samriddhi Account Yojana (SSA) 


Kisan Vikas Patra (KVP)


Senior Citizen Savings Scheme (SCSS) 


National Savings Certificates (NSC)


Monthly Income Scheme Account


Public Provident Fund Account


Time Deposit Account


5 - Year Recurring Deposit Account​


Savings Account


         You may contact to your nearest Post office to availe the benefit of the said schemes..