{"id":1386,"date":"2018-02-20T09:14:21","date_gmt":"2018-02-20T03:44:21","guid":{"rendered":"https:\/\/www.antworksmoney.com\/blog\/?page_id=1386"},"modified":"2019-09-25T11:41:28","modified_gmt":"2019-09-25T06:11:28","slug":"apply-post-office-fixed-deposit","status":"publish","type":"post","link":"https:\/\/www.antworksmoney.com\/blog\/apply-post-office-fixed-deposit\/","title":{"rendered":"Apply for Post Office Fixed Deposit"},"content":{"rendered":"<h3>Post Office Fixed Deposit Interest Rates 2017<\/h3>\n<table class=\"table table-bordered table-striped\">\n<tbody align=\"center\">\n<tr>\n<th class=\"table-header\" align=\"center\"><strong>Period<\/strong><\/th>\n<th class=\"table-header\" align=\"center\"><strong>Rate (%)<\/strong><\/th>\n<\/tr>\n<tr>\n<td>1 yr. A\/c<\/td>\n<td>6.8%<\/td>\n<\/tr>\n<tr>\n<td>2 yr. A\/c<\/td>\n<td>6.9%<\/td>\n<\/tr>\n<tr>\n<td>3 yr. A\/c<\/td>\n<td>7.1%<\/td>\n<\/tr>\n<tr>\n<td>5 yr. A\/c<\/td>\n<td>7.6%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>*Above Interest rates are as of 01\/07\/2017<\/p>\n<div class=\"pull-right top-pad btm-pad tax-img-responsive\"><strong>Post Office FD Rates<\/strong><\/div>\n<p>India Post offers short and medium-term fixed deposits at competitive interest rates. 1 year Post Office FDs pay interest at the rate of 6.8%. The highest rate of interest is offered for deposits held for 5 years, which is at the rate of 7.6%. A post office deposit can be opened with a minimum of Rs.200 and there is no maximum upper limit.<\/p>\n<h2>Features and Benefits of FD in Post Office<\/h2>\n<ul>\n<li>The time deposit account can be opened for 5 years.<\/li>\n<li>Any number of accounts can be opened in any post office.<\/li>\n<li>A minor of 10 year or above can open and manage the account.<\/li>\n<li>Joint accounts can be opened by two adults.<\/li>\n<li>An individual can convert the time deposit account from single to joint and vice versa.<\/li>\n<li>Fixed deposit schemes are available for a period of 5 years.<\/li>\n<li>The minimum amount that can be deposited is Rs.200, there is no limit on the maximum amount.<\/li>\n<li>The depositor can open a time deposit with the post office for a minimum of 1 year.<\/li>\n<li>The investments made under 5 years are eligible for tax benefits and deductions under Section 80C of the Income Tax Act of India, 1961.<\/li>\n<li>The accounts can be ported to other post offices quite easily.<\/li>\n<li>The depositor can open any number of time deposit accounts.<\/li>\n<li>On maturity, the account is automatically renewed for the period it was initially opened.<\/li>\n<li>NRIs cannot invest in the time deposit schemes offered by the post office.<\/li>\n<\/ul>\n<h2>Post Office FD calculator<\/h2>\n<p>To know how much you will earn on a Post Office Fixed Deposit, use an\u00a0online calculator. Calculate the exact maturity value of an FD by entering details such as amount invested, the rate of interest, the tenure of <a href=\"https:\/\/www.antworksmoney.com\/blog\/best-short-term-investment-schemes\/\">investment<\/a> and type of interest compounding frequency. For example, if you are investing Rs.1 lakh for a period of 5 years in a Post Office FD, the total interest earned will be Rs.7,800 and the maturity value of the deposit will be Rs.1,07,800.<\/p>\n<h2>Types of Post Office Savings Schemes<\/h2>\n<ul>\n<li>Post Office schemes are an ideal investment option and there are a wide range of schemes to choose from. These schemes offer competitive interest rates and other benefits such as tax exemption, etc. Let us explore the various options.<\/li>\n<\/ul>\n<h3>Post Office Savings Account<\/h3>\n<ul>\n<li>This is a savings account that pays interest at the rate of 4% p.a. The minimum balance that needs to be maintained in this type of account is Rs.50. The features include cheque, ATM card, and other benefits.<\/li>\n<\/ul>\n<h3>Post Office Time Deposit Account (TD)<\/h3>\n<ul>\n<li>This is a type of fixed deposit account that can be opened with a minimum investment amount of Rs.200. The interest rate offered ranges from 6.8% to 7.6%. These time deposits can be held for a tenure ranging anywhere between 1 to 5 years.<\/li>\n<\/ul>\n<h3>Post Office Monthly Income Account (MIS)<\/h3>\n<ul>\n<li>An MIS scheme is a type of investment that pays an assured rate of interest on a monthly basis. The rate of interest offered by India Post for MIS schemes is 7.5% p.a.<\/li>\n<\/ul>\n<h3>Senior Citizen Savings Scheme (SCSS)<\/h3>\n<ul>\n<li>SCSS are savings schemes for senior citizens and come with a lock-in period of 5 years. The interest rate offered is 8.4% p.a. The maximum amount that can be invested in this type of deposit is Rs.15 lakh.<\/li>\n<\/ul>\n<h3>Public Provident Fund Account (PPF)<\/h3>\n<ul>\n<li>India Post PPF account is a type of long-term investment scheme where one can invest a fixed sum for a set period of time. India Post offers an interest rate of 7.9% p.a. and this scheme comes with a lock-in period of 15 years. One can avail tax exemption under Section 80C of the Income Tax Act for PPF accounts.<\/li>\n<\/ul>\n<h3>National Savings Certificate (NSC)<\/h3>\n<ul>\n<li>NSC is a tax saving bond issued by India Post. These certificates can be purchased for a minimum of Rs.100. The interest rate offered on this scheme is 7.8%.<\/li>\n<\/ul>\n<h3>Kisan Vikas Patra (KVP)<\/h3>\n<ul>\n<li>KVP is an investment scheme offered by India Post. The minimum deposit that can be made under this scheme is Rs.1000. The amount invested doubles up in a period of 115 months.<\/li>\n<\/ul>\n<h3>Sukanya Samriddhi Accounts (SSA)<\/h3>\n<ul>\n<li>The SSA is special savings scheme for girl children and can be purchased by parents or guardians of the child. The interest rate offered is 8.3% p.a. The minimum annual deposit for SSA is Rs.1, 000, while the maximum is Rs.1, 50,000.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Post Office Fixed Deposit Interest Rates 2017 Period Rate (%) 1 yr. A\/c 6.8% 2 yr. A\/c 6.9% 3 yr. A\/c 7.1% 5 yr. A\/c 7.6% *Above Interest rates are as of 01\/07\/2017 Post Office FD Rates India Post offers short and medium-term fixed deposits at competitive interest rates. 1 year Post Office FDs pay &hellip; <a href=\"https:\/\/www.antworksmoney.com\/blog\/apply-post-office-fixed-deposit\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Apply for Post Office Fixed Deposit&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-1386","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>Apply for Post Office Fixed Deposit - Antworks Money<\/title>\r\n<meta name=\"description\" content=\"Apply for Post Office Fixed Deposit: India Post offers short and medium-term fixed deposits at competitive interest rates...\" \/>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.antworksmoney.com\/blog\/apply-post-office-fixed-deposit\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"Apply for Post Office Fixed Deposit - 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