Post Office Time Deposit



Rate of interest

1 Year Account                                                        6.25 % p.a.

2 Year Account                                                        6.50 % p.a.

3 Year Account                                                        7.25 % p.a.

5 Year Account                                                        7.50 % p.a.

· Interest calculated quarterly, but payable annually.

· I.T. Benefits: Interest exempt u/s 80-L of I.T.Act upto Rs.9,000/- per annum.

· Can be closed after 6 months without interest. Can be closed after one year at 2% reduced rate of interest.

· Special facility: In case of 2, 3 and 5 years time deposits, standing instructions can be given to credit annual interest into P.O. Savings Bank account of the same H.P.O. / Sub-P.O. and the amount can be drawn through cheques.

· Account can be opened in the Post Offices by an adult, or jointly by two individuals or by a minor (who has attained the age of 10 years). A Trust, Regimental fund, Welfare fund and Sanchayika fund can also be deposited under P.0.T.D.

KVP / NSC1992 / P.O.MIS / PPF / P.O.T.D / P.O.R.D / P.O.S.B / N.S.C. VIII ISSUE / SENIOR CITIZEN SAVINGS SCHEME-2004 /