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Time Deposit Account.

Post Office Time Deposit Account

Post office time deposit is a kind of fixed deposit with extra advantages over traditional fixed deposits.
It gives highest security to your investments.

Below are some of the features of post office time deposit scheme :

Features / Advantages of post office time deposit scheme

  • Minimum deposit amount is as low as 200 rupees.]
  • You can deposit your money for pre-defined number of years. i.e. 1year, 2 years, 3 years and 5 years
  • Interest will be calculated on quarterly basis. So, you will get compound interest
  • Interest rate varies based on the number of years you choose. Below are the details of interest rates
  • Interest will be payable at the end of year
  • Nomination facility is also available.
  • If you choose to go for 5years deposit, you can get tax benefit under section 80 C

Flexibilities of post office time deposit scheme

  • If you are not able to continue your account, you can close your account only after 6months
  • You also have the option of changing nominee name after you open the account
  • You can transfer your account from one post office to the other
Disadvantages of post office time deposit scheme
  • Only adults can open the account. Either single or joint account is allowed
  • If you close your account, interest amount will be calculated as per post office savings account interest rate. i.e 4% per annum. No compound interest


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