Time Deposit

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%