Post Office Term Deposit Scheme: The money invested in this scheme is always safe. Also, it gets 6.7 percent interest per annum for 5 years.
Post Office Term Deposit Scheme: If you are planning to do Investment Planning somewhere, then the Post Office Term Deposit Scheme (Term Deposti Scheme) is best for you. There is no risk in investing money in this government scheme. This is absolutely safe. Apart from the bank, you also get the benefit of term deposit from the post office. The only difference is that your investments are always safe in the Post Office and there is also a guarantee of getting a return. Let us know about the term deposit scheme of the post office, in which you get better returns.
You can open Term Deposit for 1 to 5 years in the Post Office. This is a Small Savings Scheme. Let us tell you that the bank has not made any change in its interest rates from January to March 2022 quarter. This means that the interest which was available in the October-December 2021 quarter, will continue to be available now.
Get Rs 139407 on 1 lakh investment
6.7% per annum is available for 5 years in the term deposit of the post office. This means that if a person opens an account by depositing Rs 1 lakh in Term Deposit with a maturity period of 5 years, then after 5 years he will get Rs 139407 in return according to the interest rate of TD. At the same time, the interest rate on term deposits of one year, 2 years and 3 years is 5.5 percent per annum.
Who can open account
In this post office scheme, any Indian can open a single or joint account. On the other hand, those whose age is more than 10 years or they are mentally weak, they can also open an account in it. To open an account, you can put any amount starting from 1000 rupees in it. Apart from this, investing in 5-year post office TD gets tax exemption under section 80C of the Income Tax Act.
Rules of Premature Closing
You can close this scheme after completion of 6 months. On the other hand, if you close the TD after 6 months till the completion of 12 months of the account, then the interest rate of Post Office Savings Scheme will be applicable and not that of term deposit.
​What are the facilities available on post office TD
- On this you will get nomination service
- Facility to transfer account from post office to another
- Post office one, TD account many
- Facility to convert single account to joint or joint account to single
- Account extension facility
- Online account opening facility through intra operable netbanking / mobile banking
