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HomePersonal FinancePost office term deposit scheme: Big news! Investment of Rs 1667 in...

Post office term deposit scheme: Big news! Investment of Rs 1667 in this scheme, you will get Rs 1.4 lakh profit, know how

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If you are also planning to invest, then you can open a TD from 1 year to 5 years in the post office. It comes under the small savings scheme only. There is no change in the interest rate of Small Savings Scheme. Interest will be given on this as before.


Investing in the post office is considered a good medium. Investing here is simple and safe, which comes with multiple options like Fixed Deposit/Term Deposit. FD/TD can be opened not only in banks but also in post offices. There is also an option to open an account in the post office that the money remains safe when invested in it. There is a money back guarantee in this. On the other hand, if a bank sinks, only the depositor’s deposit up to Rs 5 lakh is given back.

If you are also planning to invest, then you can open a TD from 1 year to 5 years in the post office. It comes under the small savings scheme only. There is no change in the interest rate of Small Savings Scheme. Interest will be given on this as before.

Who can open account

Any Indian citizen can open an account in this scheme. The account can also be opened for a minor of 10 years to a mentally challenged person. Apart from this, an account can be opened with 1000 rupees. There is no maximum deposit limit. Investment in post office TD of 5 years is exempted from tax under Income Tax Section 80C.

What is the account closure rule


The term deposit scheme of the post office can be closed at any time after the completion of 6 months. If the TD is closed after 6 months till the completion of 12 months, then the interest rate of the Post Office Savings Account will be applicable. The interest on premature closure of 2/3/5 year TD on completion of one year will be 2% less than the fixed rate of interest (i.e. 1/2/3 year) for completed years of TD and beyond one year Post office savings interest rates will be applicable for the short term.

How to get the amount around 1.4 lakhs

If you plan to invest in post office term deposits, the interest rate on 5-year term deposits is 6.7 per cent per annum. That is, every month with a savings of Rs 1,667, you deposit an amount of Rs 1 lakh in five years, then after 5 years at an interest rate of 6.7 percent per annum, he will become the owner of Rs 139407. At the same time, the interest rate of 5.5 per cent will be given on one year, two year and three year term deposits.

Pravesh Maurya
Pravesh Maurya
Pravesh Maurya, has 5 years of experience in writing Finance Content, Entertainment news, Cricket and more. He has done BA in English. He loves to Play Sports and read books in free time. In case of any complain or feedback, please contact me @ businessleaguein@gmail.com
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