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 | 8.2% |
| 2 YEARS | 8.3% |
| 3 YEARS | 8.4% |
| 5 YEARS | 8.5% |