- LATEST
- WEBSTORY
- TRENDING
PERSONAL FINANCE
Post Office Time Deposit scheme will fetch you higher returns than fixed deposit with tax exemptions
Post Office Time Deposit Scheme offers fixed-term investment with guaranteed interest and principal repayment.
Updated : Dec 26, 2022, 01:08 PM IST | Edited by : Raunak Jain
 "POST OFFICE, Small Saving Scheme, time deposit, Post office, Small Saving Scheme, Post office TD, Time Deposit Scheme")
TRENDING NOW
)
IPL 2025: KKR vs RCB opening match to be cancelled? Here's why
)
Mukesh Ambani brings former star cricketer's brand to India, to be sold at Rs...
)
Meet Yasmeen Premji and Rishad Premji, wife and son of Azim Premji, and the backbones of Wipro
)
Infosys co-founder Narayana Murthy urges businesses to treat employees as humans, reduce gap between...
)
10 most handsome men in the World: This BTS member beats Hrithik Roshan, Chris Evans, Brad Pitt
)
Meet man, IIT Roorkee alumnus, who cracked UPSC exam to become IAS, served as DM Lucknow, now suspended due to...
)
Aam Aadmi Party announces major organisational rejig after Delhi polls debacle, appoints Saurabh Bharadwaj as Delhi chief, Manish Sisodia to head...
)
Jeet Adani joins Shark Tank India Season 4, Anupam Mittal says 'you will take all the...'
)
This superstar 'lost control' during intimate scene with Madhuri Dixit, bit her lip, left her bleeding, in tears, film became superhit, it was..
)
'Hindi hi bolenge': Man refuses to speak Marathi at D-Mart in Pune, viral video sparks heated debate
)
Meet world's sexiest woman who escaped forced marriage, quit acting to become a nun
)
Khakee The Bengal Chapter review: Anurag Kashyap is right about Netflix India, it's dull and devoid of ideas
)
Sikandar first review out: Salman Khan, Rashmika Mandanna, AR Murugadoss film is 'explosive, intense, and thrilling'
)
Meet IIT-JEE topper, who got 100 percentile, but did not take admission in IIT due to...
)
Meet man, IIT Bombay alumnus, who cracked UPSC exam in third attempt to become IAS officer, his AIR was...
The Post Office Time Deposit Scheme is a fixed deposit scheme offered by the Indian Post Office. It allows individuals to invest their money for a fixed period of time and earn a predetermined rate of interest. The scheme is a safe and secure investment option that offers a higher rate of interest compared to a savings account.
The Post Office Time Deposit Scheme is available for a minimum period of one year and a maximum period of five years. The investment can be made in multiples of INR 200, with no upper limit on the amount that can be invested. The interest rate on the scheme is reviewed quarterly by the Government of India and is usually higher than the rate offered by banks.
Investors can open a Post Office Time Deposit account at any post office or through the online portal of India Post. The account can be opened individually or jointly, and a nomination facility is also available. Investors can choose to receive the interest earned on their investment either monthly, quarterly, half-yearly, or at maturity.
Also read: How to check your PAN Card history to avoid fraudulent misuse
One of the major benefits of the Post Office Time Deposit Scheme is that it is fully backed by the Government of India. This means that the investment is completely safe and secure, as the government guarantees the repayment of the principal amount and the interest earned. The scheme is also tax-efficient, as the interest earned is tax-free up to a certain limit.
Another advantage of the Post Office Time Deposit Scheme is that it is easily accessible. Investors can visit any post office to open an account or access the online portal from the comfort of their home. The scheme is also suitable for people who do not have a bank account, as they can easily open a Post Office Time Deposit account at any post office.
Overall, the Post Office Time Deposit Scheme is a safe and secure investment option that offers a higher rate of interest compared to a savings account. It is fully backed by the Government of India, tax-efficient, and easily accessible. It is a suitable option for individuals looking to invest their money for a fixed period of time and earn a predetermined rate of interest.
