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Home Personal Finance Post Office FD Interest Rate Changed: Big news! Post office is paying...

Post Office FD Interest Rate Changed: Big news! Post office is paying more interest than bank FD, know the rates here

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In comparison to banks, getting FD in the post office has become a profitable deal. At present, more interest is being earned on post office FDs as compared to banks. Banks are currently offering a maximum interest rate of 6.50 per cent on fixed deposits that too to senior citizens.


If you want to earn more profit by keeping your investment safe, then making a fixed deposit in the post office would be a better option for you. You get many special facilities by getting an FD in the post office. Also, the government itself guarantees that your money is completely safe in the post office. In comparison to banks, getting FD in the post office has become a profitable deal. At present, more interest is being earned on post office FDs as compared to banks. Banks are currently offering a maximum interest rate of 6.50 per cent on fixed deposits, that too to senior citizens.

Benefits of FD in Post Office

  • The Government of India gives you a guarantee on FD deposits in the post office.
  • In this, the money of the investors is completely safe.
  • FD in the post office can be done offline (cash, cheque) and online (net banking / mobile banking).
  • You can get more than 1 FD done in the post office.
  • Your FD account can be joint.
  • If you make a fixed deposit (FD) for 5 years with the post office, then tax exemption is also available at the time of filing ITR.
  • There is also a facility to transfer FD from one post office to another.

Account can be opened by paying check or cash

For FD in the post office, you can open an account by paying check or cash. The minimum amount to open an account is Rs 1000, while there is no maximum limit.

Interest up to 6.70 percent on Post Office FDs

Talking about the interest received on Post Office FD, it gives 5.50 percent interest on FDs ranging from 7 days to one year. FDs of 1 year 1 day to 2 years also have the same interest rate. Interest is also available at the rate of 5.50 percent on FDs up to 3 years. At the same time, FDs ranging from 3 years one day to 5 years get a higher interest of 6.70 percent.

Account transfer facility

Apart from this, customers also get the facility to transfer accounts. You can transfer the FD to your nearest office. Apart from this, the facility of adding or changing the nominee has also been given. You can add or change the nominee even after the account is opened.

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