​​​​​​​​​​​​​Post Office Saving Schemes

Post Office Saving Schemes​

Time Deposit Account

  • Account may be opened by individual.
  • Account can be opened by cash/ Cheque and in case of Cheque the date of realization of C​heque in Govt. account shall be date of opening of account.
  • Nomination facility is available at the time of opening and also after opening of account.
  • Account can be transferred from one post office to another.
  • Any number of accounts can be opened in any post office.
  • Account can be opened in the name of minor and a minor of 10 years and above age can open and operate the account.
  • Joint account can be opened by two adults.
  • Single account can be converted into Joint and Vice Versa.
  • Minor after attaining majority has to apply for conversion of the account in his name.
  • The investment under 5 Years TD qualifies for the benefit of Section 80C of the Income Tax Act, 1961 from 1.4.2007.

* ​In CBS Post offices ,when any TD account is matured, the same TD account will be automatically renewed for the period for which the account was initially opened. Example​ 2 Years TD account will be automatically renewed for 2 Years. Interest rate applicable on the day of maturity will be applied.

Interest payable annually but calculated quarterly.

From 1.07.2017, interest rates are as follows:-

Interest data details
Period Rate
1 yr. Account6.8%
2 yr. Account6.9%
3 yr. Account7.1%
5 yr. Account7.6%

Deposit Amounts​ are as follows:-

Deposit amount details
Type of Account Minimum Deposit Maximum Deposit
1, 2, 3 & 5 Year TDINR. 200/- and in multiples of INR. 200/- thereafterNo limit