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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

20 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

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