For every financial year, one can show a maximum of Rs.1.5 Lakhs in Post Office FD. Post office RD is basically a monthly investment for a fixed period of 5 years with a interest rate of 7.2% per annum (compounded quarterly). Post Office FD/RD Interest Rate: Designated post office branches offer fixed as well as recurring deposit accounts among the nine government-run small savings schemes.The interest rates … You can choose the investment plan of 1-year, 2-year, 3-year or 5-year.
The time period for these fixed deposits are one year, two years, three years and five years.
Post Office Interest Rate 2020, पोस्ट ऑफिस स्कीम इंटरेस्ट रेट, July 2020, latest rates & calculator - Duration: 9:31.
Apart from this, investors will also get tax exemption under Section 80C of Income Tax Act, 1961 on 5 years fixed deposit in post office. Compare Top Banks' Interest Rates Here Since then this agency of the government is serving India in its 23 circles with 1, 55, 000 post offices. It retained the interest rates applicable to small savings schemes - such as the Post Office Time Deposit and the Post Office Recurring Deposit - at existing levels for the quarter ending September 30. In this way, it is one of the widely distributed postal service networks of India.With the delivery of mails and couriers, the Post Office is as well offering options for savings accounts, recurring deposit and fixed deposits with good post office interest rate. All Rights Reserved..
Follow, like, tweet or post. ALL RIGHTS RESERVED.Post Office Fixed, Recurring Deposit Fetches These ReturnsAnnual Return Of 8.5% On Fixed Deposit? The 5-year fixed deposit has a 6.7% interest rate. It was the year 1854 when Lord Dalhousie (Governor-General of India then) formed Indian Post. **Discount is offered by the Insurance company as approved by IRDAI for the product under File & Use guidelines CIN: U74900HR2014PTC053454 Policybazaar Insurance Brokers Private Limited (formerly known as Policybazaar Insurance Web Aggregator Private Limited)Insurance is the subject matter of solicitation.Visitors are hereby informed that their information submitted on the website may be shared with insurers. The Post Office Recurring Deposit account comes with a lock-in period of five years. Some other investment policies offered by this government organization are Small Savings Scheme, Senior Citizen Savings Scheme , National Savings Certificate, Postal, Life Insurance, etc. There is no upper limit for both accounts.The government revises the interest rates applicable to the savings schemes from time to time.
The highest interest ever offered was 13.5% for 5 years FD from 1 st October 1991 to 1 st September 1993. The A Post Office Recurring Deposit account can be set up against payment of a minimum Rs 100 per month. Fixed Deposits rates of India Post Office are a function of many factors such as monetary policies of RBI, economic growth rate, credit demand and liquidity position of the bank. *Please note that the quotes shown will be from
FD Interest Rates: For the quarter ending September 30, India Post provides a 5.5-6.7% return on FDsThe interest rates provided by India Post - which has a network of more than 1.5 lakh post offices in the country - on four maturity options of fixed deposits are marginally higher compared For the July-September period, interest at the rate of 5.8 per cent is paid on recurring deposits at the post office.
Compare Small Finance Bank Interest Rates HereBank Fixed Deposit Rates: Compare Returns Provided By Top Banks HereWant To Set Up A Term Deposit? The main reason for the same is the nature of FD which is to provide benefit to the low-income groups and hence there is no tax liability.An investor can add the fixed deposit investment in Post Office for claiming the deductions under section 80C of the IT Act, 1961. One can use the FD calculator of Policybazaar for free for knowing the interest rates that he/she may get through the complete tenure at the applicable rates of post office FD.In this tool, one has to enter the amount to be deposited, current Post Office FD interest rates, and tenure.As soon as one enters the details and hit the calculate button, for estimating the earned interest and the amount at maturity separately.For opening the Post Office Fixed Deposit account, one can either use online or offline mode:One of the biggest advantages of investing in Fixed Deposits of Post Office is that no tax or TDS is deducted on the earned interest. With the delivery of mails and couriers, the Post Office is as well offering options for savings accounts, recurring deposit and fixed deposits with good post office interest rate. ................................ Advertisement ................................Post Office Fixed, Recurring Deposit Fetches These Returns © COPYRIGHT NDTV CONVERGENCE LIMITED 2020. Tax benefit is subject to changes in tax laws. Post Office fixed deposit is one of the best investment plan that offer highest interest rate in the industry. Post Office Recurring Deposit. The post office fixed deposit has an interest rate of 5.5% for 1-3 years. Policybazaar does not in any form or manner endorse the information so provided on the website and strives to provide factual and unbiased information to customers to assist in making informed insurance choices.The product information for comparison displayed on this website is of the insurers with whom our company has an agreement.Product information is authentic and solely based on the information received from the Insurer© Copyright 2008-2020 policybazaar.com. Some other investment policies offered by this government organization are Small Savings Scheme, The FD schemes do not offer some extra interest rates to the senior citizens. There has to be a witness one he/she is going to sign the paper of investment.Before start investing in the post office FD scheme, it is suggested to use the FD Calculator to know FD interest rates.
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