*For 5 year tax-saver deposits, Interest rates for Q3, FY 2019-20 (October-December 2019) Please note that interest rates are reviewed every quarter by the Government for these schemes. For Bank Fixed deposits, TDS would be deducted on interest. Whereas for bank FDs, under the deposit insurance and credit guarantee corporation (DICGC) rules, each depositor in a bank is insured up to a maximum of Rs 1 ⦠This has prompted a lot of people to switch to other options such as Post office term deposit schemes, which work in a similar fashion to a fixed deposit. Investing in Post Office Time Deposit, Post Office Recurring Deposit, Post Office Monthly Income Scheme, National Savings Certificate (NSC) and Kisan Vikas Patra (KVP) in a given quarter will lock ⦠Post Office Fixed Deposit Features: Department of Posts, Government of India, (Postal Department) Ministry of Communications, Post Office fixed deposit account (Post office Fixed Deposit Accounts) to offer attractive interest with terms ranging from 1 year to 5 years Rates Offer. Deposit Post Office NOTICE: The Postal Service is an essential government service, and will remain open wherever possible. Investors can invest a certain amount for a fixed period for a fixed rate of interest. Post office deposit rates are between 8.2% to 8.5% p.a. Since then this agency of the government is serving India in its 23 circles with 1, 55, 000 post offices. Definitions. Post Office Time Deposits (POTD), generally referred to as Post Office Fixed Deposits and are government-backed. Fixed Deposit Rates in Post Office. Post Office Fixed Deposit Interest Rates. Post office 1 year FD prevailing interest rate is 7%. The post office also accepts time deposits. Post Office Fixed Deposit in Hindi पà¥à¤¸à¥à¤ à¤à¤«à¤¿à¤¸ फिà¤à¥à¤¸à¥à¤¡ डिपà¥à¤à¤¿à¤ Post Office FD English Summary . Post Office fixed deposit interest rate, in comparison to some banks, is better and gives investors better opportunities to earn. Post office recurring deposits (RD) To invest small fixed amounts of money at regular intervals, one can open a 5-year RD account with the post office. In terms of investments that offer assured returns, fixed deposits and recurring deposits from banks as well as the postal department might be well known to people from across India. Post office interest rates comparison with banks. There is no limit on the number of accounts that can be opened. A fixed deposit is an investment scheme that allows one to deposit in fixed deposits in order to earn interest on the investment. TDS; For Post office term deposit, there is no TDS deducted by Post office. Post office fixed deposit (POFD), or Post office time deposit (POTD) is a suitable investment scheme, alternative to the bank's fixed deposits, provided by the Indian Post. Introduction. The interest rates offered on these schemes are reviewed and fixed quarterly by the government. Deposit from £500 - £2million; Open with a single direct debit payment, cheque or transfer from an existing Post Office Savings account; 0.35% gross/AER fixed for 1 year (annual rate) Monthly rates available. Through this fixed deposit plan that is offered by the Indian Postal Services, an individual can earn a guaranteed return on the money deposited for a fixed period of time. Detail about Post Office Fixed Deposit, rules, rate of interest and other useful information about Post Office FD in Hindi. Now you have to decide how many tenures you want to opt-out for it. Post Office Fixed Deposit Scheme in Hindi||Post Office FD Scheme Post Office Fixed Deposit scheme is very popular scheme of post office. The post office Fixed Deposit (FD), also known as âNational Savings Time Deposit Account(TD)â is a convenient alternative to the fixed deposits provided by banks. The return from POFD is guaranteed and backed by the government of India. You will get the deposited amount along with the interest earned on it at the time of maturity. What is a Post Office Fixed Deposit? You can choose the investment plan of 1-year, 2-year, 3-year or 5-year. The post office fixed deposit scheme in India consists of a bucket list of the products that offer reliability and risk-free return on investment. It is safer than than an FD because the principal invested and interest earned are backed by sovereign guarantee. We are giving you investment information about both of them in this article. Most of the larger size banks in the country have dropped interest rates sharply. From security point of view, the security of your deposit in the Post Office deposit is maximum as it guarantees the government. Post Office Time Deposit (TD) Account or Fixed Deposit (FD) Account: The features of FD accounts are similar to that of RD accounts. Post Office Fixed Deposit interest rate. Post Office Fixed Deposit/ Time Deposit (POFD) Scheme is similar to a bank fixed deposit, where you can deposit money for a fixed time period and earn a guaranteed return on that.This is a good investment option for those who want to deposit a lump sum for a fixed tenure. Variable: A variable rate of interest can go up or down throughout the lifetime of a savings account. Post Office FD/RD Interest Rate: Designated post office branches offer fixed as well as recurring deposit accounts among the nine government ⦠The post office offers several types of deposit schemes, also known as small savings schemes. A post office time deposit will get auto-renewed on maturity and the interest rate on the date of maturity will be applied to the renewed deposit. Post Office Fixed Deposits offer incredibly high rates of return; in fact, among the highest one can expect when it comes to fixed deposits in India. Though the post office fixed deposit interest rate is higher, they too have been affected due to the economic crisis. The 5-year time deposit offers an interest rate of 6.7% whereas the 3-year time deposit provides an interest rate of 5.5% currently. Opening the deposit ⦠India Post gives you the choice of investment tenure. 8 Dean St, Deposit, NY 13754. New Delhi: Fixed Deposits (FDs) are considered one of the safest and most popular means of investment for many.SBI's fixed deposit rates have fallen by anywhere between 85 basis points to 160 basis points since the beginning of 2020. 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