Post Office Time Deposit Account (TD)
Interest payable, Rates, Periodicity etc.
Interest payable annually but calculated quarterly.
Minimum Amount for opening of account
Minimum INR 200/- and in multiple thereof. No maximum limit.
Interest rates From 01.01.2019
| Period | Rate |
| 1 yr A/c | 7.0% |
| 2 yr A/c | 7.0% |
| 3 yr A/c | 7.0% |
| 5 yr A/c | 7.8% |
Salient features including Tax Rebate
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
*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
The investment under 5 Years TD qualifies for the benefit of Section 80C of the Income Tax Act, 1961 from 1.4.2007.
