Savingwala

RSS[Blog]

Free Updates

- SMS on Mobile
- In your Email Box
Health insurance allows you to safeguard against medical treatment expenses. A Life insurance plan ensures your family’s financial security, even in your absence. Retirement & pension plans help you provide for your financial needs in your post retirement years. ULIPs, or Unit Linked Insurance Plans, are fast gaining popularity. Benefits include flexibility, Transparency, Liquidity, and Fund Options.

Categories

Recent Posts

Friends & Family

S. K. Raghav

financial advisor for small saving

Time Deposit

Indian Postoffice Savings

Post office Time deposit scheme is a type of fixed deposit account offered by Department of post, Government of India at all post office. This saving plan is best for those investors who want to deposit a lump sum for a fixed period. Investor gets a lump sum (principal + interest) at the maturity of the deposit, where rate of interest on investment depend on the term of deposit.

Who can open :

  • A single adult or two adults jointly,
  • A pensioner to receive/credit his monthly pension,
  • Group Accounts by Provident Fund, Superannuation Fund or Gratuity Fund, Authority
    controlling funds of the Sanchayika.
  • Public Account by a local authority/body,
  • Institutional Accounts by the Treasurer of Charitable Endowments for India, Trust
    Regimental Fund & Welfare Fund,
  • A cooperative society / cooperative bank or scheduled bank on behalf of its members,
    clients or employees
  • Gazetted Officer in his official capacity.

[ Non Resident Indian / HUF can not open the account. ]

Nomination facility

Nomination facility is available under Post office Time Deposit scheme.

Amount Required

Minimum amount required: Rs.200/-.
Maximum Amount : No Limit

Time / term of investment

Time Deposits can be made for the periods of 1 year, 2 years, 3 years and 5 years.

Interest Rates

Period of deposit Rate of Interest per cent/ per annum 
1 YEAR 6.25
2 YEARS 6.50
3 YEARS 7.25
5 YEARS 7.50

Click here to get latest updates by Email

21 Responses to “Time Deposit”

Divya [ 18Jul08]

Dear Sir,

I m doing a job & want to invest in this scheme.Kindly guide me & also clarify the further procedures.

With Thanks,

Divya

vijay [ 08Aug08]

Can I get fix diposite for one year and save tax

siddu [ 24Sep08]

i need good suggetion regarding postal savings

Gafoor Shaikh [ 25Sep08]

Sir, I work for an IT firm and i want to invest in Time deposit for 1 yrs period to save tax, If i invest 20000 for 1 yrs in time deposit then for the coming 2008-09 year i will directly getting benefit of 20K for tax saving and next year i can withdraw the money on maturity,Plz advice on this.
Thanks a Lot

Jitendra Rathore [ 06Oct08]

I want to know some post office saving plan details, Plz advice me.

Dine [ 12Oct08]

Hi

I Dinesh here,

i have a FD in HDFC bank for one year,pls let me know whether it comes under tax benefits OR not.

Shatrughan [ 28Nov08]

I think we will not get the tax benefit until we will put FD for 5 years…
At least I know as far as my company told me this.

Laxmi Prasad [ 05Jan09]

i want to invest some money for tax saving& future also. pls. suggest a short time sceme.

Thirumalaikumar [ 20Jan09]

Sir,
I am working in IT firm and i want to invest money deposit for 1 or 2 yrs period to save tax and save money also,so which plan is suitable for me.if i put the money in that scheme can i get it after 2 year .
give me a good guide to me.

Thanks & regards,
Thirumalaikumar D

NANDA [ 05Feb09]

sir

i have a FD in SBI FOR 1 YR . pls let me know whether it comes under tax benifit .or not. and one more clarification i’m studying b-tech correspondence,can i show fees reciept for tax saving.

Nanda

BIJAL [ 05Mar09]

I WANT SOME SUGGESTION I AM WORKING WOMAN I AM MARRIED SO I WANT TO SAVE THE MONEY HOW TO I SAVE THE MONEY PLEASE GIVE ME THE SUGGETION MONTHY SCHEM YERLY SCHEME OR ANY OTHER POST OFFICE SCHEME I WANT TO SHOT TERM & LONG TERM BOTHE SCHEM I WANT MY SALARY IS 10000/- PM SO PLASE GIVE ME THE SUGGETION I AM MIDDALCALSS SO PLEASE GIVE THE PROPER SUGGETION

r. k.agrawal [ 14Mar09]

i wish to know rate of interest on post office term deposits on 13/2/2006.how much maturity of Rs. 1000 after 3 years of term deposit commencing on 13/2/2006. regards

Beno [ 17Mar09]

can you tell about Income Tax relief of this scheme?

shirley [ 27Apr09]

is there a tax relief on this scheme

Delip [ 15Jul09]

TO,
Dept. of Post

Resp. Sir

WE request you to kindly upgrade the services of post like -

- I like to paperless work, hence i suggest you plz. made demat account for all KVP,NSC and other schemes where is applicable of paper work.

Awaiting positive reply from government or postal dept.

Regards,

delip pandhi

santhosh [ 24Jul09]

Hi

I wish to invest for my kids future, please advice the tax free investment plans, which have highest retun on maturity

nimesh [ 27Jul09]

3 years fixdeposite of post office saving can elligeable for tax benefit.

amit patel [ 30Jul09]

patel amit
ph:9099041305
at&po kumbharia
tal :choryasi
dist :surat

M.Narender reddy [ 23Nov09]

Sir,
I am working in IT firm and i want to invest money deposit for 1 or 2 yrs period to save tax and save money also,so which plan is suitable for me.if i put the money in that scheme can i get it after 2 year .
can you guide me in this.
Regards
Narender reddy
Ph: 9985101042
HYD.

jayasree [ 14Dec09]

i want to do savings in post office.if i invest 1000 every month in fixed deposit for 1 year.how much amount i will be getting after 1 year with interest.and where can i do post office savings in hyderabad.

shivashankar [ 15Dec09]

Shiva shankar D
99 40 586 999

#24(25)
karpoora street
periamedu
chennai
ripon building post
600 003