INSUBCONTINENT EXCLUSIVE:
Post office fixed deposit account can be opened by an individual by cash or cheque.India Post or Department of Posts, the postal system of
the country, provides a range of services
The Department of Posts offers several savings schemes with different interest rates
Interest rates on post office saving schemes move in line with the government's interest rates on small savings schemes, which are revised
One such savings scheme offered by India Post is time deposit or fixed deposit account
Interest rate on the time deposit account is payable annually but calculated quarterly.Here are key things to know about post office fixed
In case of a cheque, the date of realisation of cheque in government's account shall be the date of opening of account.AmountThe minimum
amount required to open a post office FD account is Rs
200 and in multiple thereof
6.9-7.7 per cent for a period of 1-5 years
For 1 year, 2 years and 3 years period, post office offers an interest rate of 6.9 per cent
On a 5-year period, investors get 7.7 per cent
The account can be opened in the name of a minor and a joint account can be opened by two adults.Get Breaking news, live coverage, and
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