Post Office Time Deposit Account is similar to the Fixed Deposit Account in banks where any person can save their money for a definite time period. In PO TD Account, Indian Post Offices provides guaranteed returns. Post Office TD Interest Rate 2018 lies between 6.6% to 7.4% based on the number of years of term deposit. People can easily calculate their post office td interest earned through td calculator. People can fill post office td form through indiapost.gov.in
People can open their td account through filling the application form and make fixed deposit for a definite time in PO. Before opening the account, people must check the post office td interest as it is different for different time period. Moreover, people can calculate td interest as per the current rates through Post Office TD Calculator 2018.
People can also compare other Post Office Schemes like National Saving Certificate (NSC), Public Provident Fund (PPF), Kisan Vikas Patra (KVP), Sukanya Samriddhi Yojana (SSY), Post Office Savings Account, Senior Citizen Saving Scheme (SCSS), Recurring Deposit, Monthly Income Scheme (MIS) – check nsc vs ppf vs kvp vs ssy vs td vs scss vs rd vs mis vs post office savings scheme. People can Compare All Post Office Schemes 2018 before making investment.
Time Deposit Account Interest – Post Office TD Interest Rate 2018
TD Account can be opened in any Post Office across India. Any individual can open this account in the name of a minor or for himself or also can open joint account to earn guaranteed interest. Post Office TD Interest Rate 2018 (effective from 1 Jan 2018) is 6.6% for 1 year term deposit, 6.7% for 2 year term deposit, 6.9% for 3 years term deposit account and 7.4% for 5 year term deposit account.
Time Deposit Interest Rate (%) over the Years
|1 Year Time Deposit||6.6%||7.1%||8.4%||8.4%||8.2%|
|2 Year Time Deposit||6.7%||7.2%||8.4%||8.4%||8.2%|
|3 Year Time Deposit||6.9%||7.4%||8.4%||8.4%||8.3%|
|5 Year Time Deposit||7.4%||7.9%||8.5%||8.5%||8.4%|
Post Office TD Interest is calculated quarterly but is payable annually. Any person can open any number of td accounts in post office. Even Post Office td account can be transferred from one post office to another. Any individual can open td account in cash or through cheque. People can also open TD account (FD) in various nationalized and private banks like SBI, Canara Bank, Axis Bank, HDFC Bank, ICICI Bank.
Furthermore to open an account, people can download the application form in PDF Format through the link – Post Office TD Form PDF
Post Office TD Premature Closure & Tax Benefits
All the deposits made in the term deposit account are allowed for withdrawal through td premature closure. TD Account is liquid despite the lock-in period. All the td accounts with lock-in (maturity) period of 5 years are eligible for tax benefits under s/c 80C of IT Act, 1961 from 1 April 2007.
However TD Accounts of 1, 2 and 3 years does not gets tax exemption under 80C. The following points are applicable in case of post office td premature closure which are as follows:-
- TD Account is risk free and candidates can make premature closure of their td accounts after 6 months of initial deposits.
- In case the td premature closure period is between 6 months to 1 year than the subscribers will get an interest rate of 4%.
- After 1 year, post office td interest is 1% less than the interest earned on the deposit for specific tenure earns.
Post Office TD Calculator 2018 – Maximum / Minimum Amount
Candidates can open his account with minimum Rs. 200 and can make subsequent deposits in multiples of Rs. 200. There is no limit on the maximum amount of deposits in TD Account. People can keep a track of their records and calculate their interest using POTD Passbook with rules applicable to the account.
In case the TD deposits get matured in any CBS Post office then the same TD account will automatically gets renewed for the same period for which the initial account was opened. For eg – Any 2 years TD Account can automatically gets renewed for 2 years after maturity.
Compare All Post Office Schemes
People can compare various post office saving schemes on the basis of Post Office Interest Rates Table 2018, Lock In Period (Maturity), Minimum / maximum account balance and risk factor involved through the table below:-
NSC vs PPF vs KVP vs SCSS vs RD vs TD vs SSY vs MIS vs PO Savings Account
|Post Office Schemes||Interest Rate 2018||Lock in Period||Minimum / Maximum Investment|
|National Saving Certificate (NSC)||7.6% compounded p.a but payable at maturity||5 Years||Minimum amount is Rs. 100 and no Maximum limit|
|Public Provident Fund (PPF)||7.6% compounded yearly||15 Years||Minimum amount is Rs. 500 and Maximum amount is Rs. 1.5 lakh|
|Kisan Vikas Patra (KVP)||7.3% compounded yearly||9 Years 10 Months||Minimum amount is Rs. 1000 and no Maximum limit|
|Senior Citizen Saving Scheme (SCSS)||8.3% p.a from 31 March / 30 Sept / 31 December||5 Years||Minimum Deposit is Rs. 1000 and Maximum Rs. 15 lakh|
|Recurring Deposit (RD)||6.9% p.a compounded quarterly||5 Years||Minimum Rs. 10 per month and Maximum no limit|
|Time Deposit Account (TD)||6.6% to 7.4% p.a calculated quarterly||1 to 5 Years||Minimum Rs. 200 and no Maximum Limit|
|Sukanya Samriddhi Yojana (SSY)||8.1% p.a compounded annually||Till 21 years||Minimum Rs. 1000 and Maximum Rs. 1.5 lakh|
|Post Office Monthly Income Scheme (MIS)||7.3% per year payable monthly||5 years||Minimum Rs. 1500 and Maximum Rs. 4.5 lakh|
|Post Office Savings Account||4% p.a||No Lock In Period||Minimum Balance Rs. 50 (non-cheque) and Rs. 500 (cheque) and Maximum Rs. 1 lakh|
Time Deposit Account Interest Rate 2018 is similar to the Interest of RD. Moreover, RD Interest is paid quarterly while TD Interest is paid yearly but calculated quarterly. People can also make td login at website of Post Office TD Account Check Online.
TD Nomination Facility
Subscribers are allowed to multiple accounts in any post office as well as joint TD accounts. People can open this type of account in the name of a minor below 10 years or for themselves. Nomination Facility is available at the time of account opening and even after opening the td account.
In TD accounts, subscriber can operate more than 1 accounts in individual capacity or jointly. After 10 years, minor must convert TD account in his name. There is no maximum limit on the deposits made by an individual. People can convert their single account to joint account and vice versa.
Post Office Time Deposit – Highlights at a Glance
All the people who want to save their money for a defined time period and assured returns can open a TD Account. The important features and highlights of Post Office TD Account are as follows:-
Time Deposit Account – Post Office TD Calculator and Salient Features
|TD Interest Rate 2018, Periodicity||Minimum Term Deposit Account Opening Balance and Maximum Balance|
|TD Interest Rate 2018 currently varies from 6.6% to 7.4% per annum quarterly calculated while payable yearly (effective from 1 Jan 2018). This post office td interest is 6.6% for 1 year account, 6.7% for 2 year account, 6.9% for 3 year account and 7.4% for 5 year account.||Minimum td account opening balance is Rs. 200 and candidates can deposit any further amount in its multiples. There is no maximum limit.|
For more details, visit the official website indiapost.gov.in