Post Office Term Deposit Scheme: The Indian Post Office comes up with various plans for its customers from time to time. The country has a large middle class, so even today they do not like to invest in market risk schemes. If you are looking for an investment option away from market risk, you can invest in a post office term deposit plan.
Although banks also offer term deposit options, their interest rates are often lower. At the same time, customers get higher returns on post office FDs as well as government security guarantees. If you are also thinking of investing in Post Office FD Scheme, we will give you some information about this scheme. Tells special stories. So let’s find out –
You can invest so much time in a post office scheme
Informing about this on its official website, the post office says that doing FD in the post office is a simple process. In this you can do FD for 1 year, 2 years, 3 years and 5 years.
Interest is available on Post Office FD
It is worth noting that at the post office you will get 5.50% interest on FDs for a period of 7 days to 1 year. At the same time, you get 5.50% interest on 1 year 1 day to 2 year FD. At the same time, the interest rate will be 5.50 per cent on 3 year FDs and 6.70 per cent on 3 to 5 year FDs.
Customers get this benefit on Post Office FD
- The investment in this scheme is free from market risk.
- You get online transactions like Net Banking, Mobile Banking.
- Cash transactions can be done through this scheme.
- You can do more FDs at the post office.
- An investment in a 5 year FD plan is eligible for exemption under Section 80C of the Income Tax Act.
How to open Post Office FD-
We tell you that to open FD at Post Office you can go to any nearest Post Office near your home and open an account. You will need to invest a minimum of Rs. 1,000 to open an FD. You can only invest 100 times in FD. You must be over 18 years of age to invest in this scheme.