Getting FD in post office is the easiest, Rs 200. Open account in India, up to 7.7% return in 5 years
new Delhi. Due to the spread of Coronavirus in India epidemic in the country, the rates of fixed deposits in many banks have been cut. In such an era, post office investment may be a better option for small savings. It is very easy to get FD (Post office saving scheme) here. The special thing is that there are many advantages of getting FD in post office (post office fd interest rate 2020) and along with it you will get many facilities.
In post office (post office fd interest rate 2020) you can get FD (post office fd scheme 2020) for one, two, three and 5 years. Under this post office fixed deposit, interest is paid on an annual basis but it is calculated on a quarterly basis. In this, you can start by opening an account with a thousand rupees (Post Office FD Benefits).
Know its post office FD benefits
– If you change the city or place, you can also transfer from the FD post office.
– FD account can be transferred from one post office to another post office.
– If you have a personal FD account, you can change it to a joint account.
Similarly, if you have a joint account, you can change it to a single account again.
– Post office also provides facility to add or change nominee in FD.
– You can add or change the nominee even after opening the account.
Know, special things related to post office FD ..
Any person can open a post office fd scheme 2020 through account cash or check. According to India Post, in the case of checks, the account will be considered open from the date of the receipt of the check amount in the government’s account. This account can also be opened in the name of a minor and a joint account in the name of two adults. In addition, the Post Office Time Deposit Account offers interest rates ranging from 5.5 to 6.7 per cent for periods ranging from 1 to 5 years.
Discount is available after five years
According to the official website of India Post, one can avail tax exemption under Section 80C of Income Tax Act, 1961 for investing after completion of 5 years. You get 7.7 percent interest on a 5-year FD.
Can open your account with 200 rupees
In this, the account can be opened by check or by FD from cash. If this FD account is being opened by check, then keep in mind that the date on which the money will be deposited in the government account will be considered as the date of opening of the FD account. It takes a minimum of 200 rupees to open an account. There is no limit to the maximum amount to be deposited in this account.
Know how much money increases in how many years
Interest rate and duration Post office time deposit account offers interest rate ranging from 7 to 7.8 per cent for a period ranging from 1 to 5 years.
According to India Post’s website, the interest rates are as follows
– Term Interest Rate (in%) 1 Year (FD) 7.0
– 2 years 7.0
– 3 years 7.0
– 5 years 7.7