Post Office Fixed Deposits are a safe and profitable option if you want to invest. Along with the government guarantee, the programme offers additional benefits. Moreover, you will receive a quarterly interest rate.
How to open a FD in Post Office:
In the Post Office, opening an FD is very simple. Customers can open FDs with terms ranging from 1, 2, 3, and 5 years, according to the India Post website.
You can open an FD in the Post office by giving a cheque or cash. The minimum amount must be Rs. 1000. However, there is no limit to the maximum amount.
Benefits of opening a FD in Post Office:
Investors’ money will be secured completely.
FDs can be created offline using cash or a check, online using net banking, or both.
More than one FD may be created.
Accounts with FDs may be linked.
If you make fixed deposits for more than five years, you can receive income tax exemptions.
From one post office to another, you can transfer FD with ease.
The government will provide a guarantee in Post Office fixed deposits.
Under FD in Post Office 5.50 percent interest is available on FD of 7 days to one year. FDs between one year and two years are also offered at the same interest rate. In addition, interest is offered on FDs for up to three years at a rate of 5.50 percent. On FDs with terms ranging from 3 years one day to 5 years, 6.70 percent interest is offered. That is, you will make a good return on your FD here.
