Similar to the bank, the post office also offers the option to invest in all schemes. At the post office, you can benefit from improved interest rates by investing in RD, FD, PPF, and various other plans. If you’re looking to invest in FD, etc., at the bank, you can do it online; there’s no need to invest physically at the bank. However, is it possible to invest in a post office FD from the comfort of your home? Individuals are not very informed about it. At the post office, you also have the option to complete all tasks online. By utilizing this service, you can establish a Post Office Time Deposit account directly from your home.
How to open an online account
1. Post Office Time Deposit Account Opening Facility Intra Operable NetBanking/Debit Card It is offered through mobile banking.
2. For this, you have to log in to Post Office E-Banking (https://ebanking.indiapost.gov.in) using the registered user ID and password.
3. After this, go to the option of ‘General Services’ and click on ‘Service Request’ and open it.
4. After this, go to the option of ‘New Request’ and apply to open a time deposit account.
5. In the meantime, you will need to upload some documents such as Active Savings Account, PAN Card, KYC Documents, Active DOP ATM or Debit Card and Mobile Number and Email ID etc.
6. Follow all the application process. After verifying the given information, your account will be deleted.
7. It will be opened.
Facility of FD for 1, 2, 3 and 5 years
In the post office, you are given the facility of FD for 1, 2, 3 and 5 years. Everyone’s interest rates are also different according to the tenure. Currently, the interest rate is 6.9% on one-year FD, 7.0% on two-year FD, 7.1% on three-year FD and 7.5% on 5-year FD. The investment can be started from Rs 1,000, there is no maximum investment limit. Interest is calculated on an annual basis.
