Post Office Special Scheme: All banks in the country offer various savings and investment schemes for their customers, providing attractive interest rates. However, when it comes to high returns, the Post Office is giving tough competition to the banks. The Post Office operates under the Government of India, making investments in its schemes completely safe. Today, we will tell you about one such Post Office scheme that offers excellent interest rates.

Post Office TD Account: Open with Just ₹1,000

The Post Office Time Deposit (TD) scheme is similar to the bank’s Fixed Deposit (FD) scheme. You can open a TD account in the post office for a minimum period of 1 year and a maximum period of 5 years. The interest offered by the post office on TD accounts ranges from 6.9% to 7.5%. You can choose to invest for 1, 2, 3, or 5 years. A TD account can be opened with a minimum deposit of ₹1,000, and there is no maximum deposit limit.

Deposit ₹2,00,000 and Earn Fixed Interest of ₹29,776

The post office offers 7.0% interest on a 2-year TD. If you deposit ₹2 lakh in the 2-year TD scheme, you will receive a total of ₹2,29,776 at maturity, which includes ₹29,776 as interest. The post office TD scheme guarantees fixed interest, making it a safe and risk-free investment option. You can open both single and joint accounts in the post office TD scheme. A joint account can have the names of up to 3 people.

How to Open a Post Office Time Deposit (TD) Account

  1. Visit Post Office – Go to the nearest post office branch.
  2. Fill out the Form – Complete the TD account application.
  3. Choose Tenure – Select 1, 2, 3, or 5 years.
  4. Submit Documents – Provide ID proof, address proof, and a photo.
  5. Deposit Money – Minimum ₹1,000 via cash, cheque, or DD.
  6. Get Receipt – Receive a passbook as proof of investment.