Indian Post Office Fixed Deposit Interest Rates range between 5.50% and 6.70%. Senior citizens may earn higher rates – 0.25% to 0.50% additional on existing rates. The tenure of the Fixed Deposit (FD) is from 7 days to 5 years. The schemes come with a fixed rate of interest and earning. So, you can consider Post Office FD plans for safe and secured investment. You will also receive an insurance cover on the deposited amount up to a limit.
In this post, we will discuss Indian Post Office FD Interest Rate features, details about National Savings Time Deposit Account, loan against FD, most feasible plans, application procedure, documents required, and frequently asked questions.
Here are the features:
Here is the complete information about FD scheme Post Office:
You can also choose to take a loan on the Indian Post Office FD.
Before you invest in the Indian Post Office FD scheme, you must know the varying tenures and the corresponding interest rates. This will give you an idea as to which scheme will provide you the highest return. For instance, the tenure of 3 years 1 day to 5 years provides the highest rate at 6.70% per annum. But if you are not into long-term deposits, then you may look for a short-term scheme.
The interest rate for short-term schemes is 5.50%. The tenure for the same is 7 days to less than 365 days. Remember that the interest on the FD is applied at the time of maturity. Senior citizens may get an additional 0.25% to 0.50% on the standard rates.
Here are the relevant steps:
Here are the documents you need to open the FD account:
Here are the frequently asked questions:
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