The interest rates on small savings schemes are reviewed and announced every quarter by the government of India now. I already wrote a detailed post on this. The highest interest ever offered was 13.5% for 5 years FD from 1st October 1991 to 1st September 1993. After April 1, 2016 – Quarterly Interest Reset: For Post Office 5 year FD (also eligible for tax deduction u/s 80C): Also Read: Best Tax Saving Investments u/s 80C. Home Interest Rates Highest RD Interest Rate June 2020 – SBI, HDFC, Lakshmi, Post Office Highest RD Interest Rate June 2020 – SBI, HDFC, Lakshmi, Post Office Posted By: Deal4loans on: July 29, 2016 In: Interest Rates No Comments Key features of the Post office FD are given below: 1) Post Office Fixed deposits are available for 1 year, 2 years, 3 years and 5 year tenure. 9) Post office Time Deposit interest is paid annually and credited to your savings account. The new interest rates on post office schemes has been kept unchanged for this quarter. The interest on Post Office deposits was revised on 1 January 2020. 2 Year FD – 6.9%. Advantages of Post Office FD. Here are the interest rates applicable for 1 to 5 year FD tenure. Accounts can also be opened by minor with more than 10 years of age along with an adult (parents or legal guardian). If you do not withdraw such interest amount from SB account, no FD interest would be paid. 10) Can I transfer my Post Office FD account from one Post office branch to another? The highest Post Office FD interest rate is 6.70% for deposits maturing in 5 years. Post Office Fixed Deposit Interest Rate History: Post Office FD Calculator – Earn Higher Interest than Bank FD, Post Office MIS Calculator ️ – Know Your Monthly Income, Post Office RD Calculator – Invest Rs 1,000 per month to get Rs 69,697 on Maturity. However the FD should be active for a minimum for 6 months. Also Read: 7 High Rated Companies Offering more than Bank Fixed Deposits. Post Offices started offering fixed deposits (also know as time deposits) from 1987 and the table below gives the interest rate since then for different tenures. The applicable interest rate is announced every quarter. However, the process of investment requires physical visit to the post office and paperwork. It is likely, that post office fixed deposit rates will stand somewhere between the bank FD rate and a company FD rate. The interest received is fully taxable at applicable marginal income tax rates. Also Read: Kisan Vikas Patra – Double your money on maturity. Highlights of Post Office FD Interest Rates. For instance, the highest FD interest rates offered by Canara Bank FD on a 1 year FD is 5.25% whereas for a 5 years FD, it offers 5.30% Type of the Depositor: All the banks in India offer a comparatively higher interest rate on senior citizens’ fixed deposits. These interest rates are applicable now in 2021. For all withdrawals beyond 1 year, an exit penalty of 1% is charged. 8) How would post office FD calculator work? Required fields are marked *, +  1  =  2 .hide-if-no-js { FD interest rates for Apr-2020 to Jun-2020 quarter is reduced further. After that you can always withdraw. Ministry of Finance notified the applicable latest Post Office Interest Rates July-Sept 2020. Post Offices like banks offer FD (Fixed Deposits) and offer very competitive interest rates. This scheme offers 7.4% Interest Rate (effective from 1 Oct 2020) and can be determined with the help of senior citizen savings scheme calculator. Variable: A variable rate of interest can go up or down throughout the lifetime of a savings account. Fixed Deposit Interest Rates: ... 2020, the interest rate is as follows: 1 year to 389 days : 5.55 per cent; ... offer a higher rate than post office schemes. Post Office FDs still cannot be opened online. You notice that there is a huge fall in the interest rates of all Post Office Saving Schemes. display: none !important; Post Office Fixed Deposit Scheme – Features. Stay tuned with us till the end to learn about the Post office … Hence you would get higher interest rates on these fixed deposits if you compute annually. Sarkari Yojana 2020 [Post Office] पोस्ट-ऑफिस बचत योजनाएं 2020 पंजीकरण Helpline Dept Jul 2, 2019. If you have changed your address this would be even more painful. NRIs are not eligible to open Post Office FDs. Your email address will not be published. As of today offers 7% for 1,2 & 3 Years tenure and 7.8% for 5 Year Tenure, Lower than Post Office FD. The interest rates offered by Post Office FDs are generally higher than most Nationalized banks. 2) Can I open Post office Fixed Deposit Online? 2020-04-03 2020-04-08 Looking to find the post office small saving interest rates 2020 The Reserve Bank of India (RBI) has recently discharged its fifth every other month rate audit of money related to… Highest Post Office TD interest rate: 6.70% p.a. 10 Mutual Fund Investment Plans for Steady Income, 40+ Profitable Agriculture Business Ideas in India, 200 Good Small Scale Business Ideas with Low Investment, 20+ Future Business in India for 2025 | Future Business Ideas for 2030 and beyond, Top 10 Most Profitable Business in India with Low Investment. Definitions. Very Informative. Post office saving schemes are safe to invest as these small saving schemes are offered and backed up by Govt of India. 5 Year FD – 7.7%. has revised Post Office Savings Schemes Interest Rates for 1 January 2021 to 31 March 2021 (4th quarter of FY 2020-21). The 5-year Post Office Fixed deposit is eligible for Tax benefit u/s 80C (up to Rs 1.5 Lakhs). The formula to arrive at the interest rates of the small savings schemes was given by the Shyamala Gopinath Committee. 9) Why Post office FD rate of interest would change every quarter? Here’s a comparison of latest FD interest rates offered by post offices, with FD rates offered by Bajaj Finance Limited. ApnaPlan.com – Personal Finance Investment Ideas, 7 High Rated Companies Offering more than Bank Fixed Deposits. Post Office Fixed Deposit in hindi 2020-2021 - पोस्ट ऑफिस फिक्स्ड डिपॉजिट Interest Rates भारत सरकार के अधिनित RBI द्वारा निर्धारित किया जाता है। RBI ने 2020 The current post office FD interest rates for January to March 2020 are: 1 Year FD – 6.9%. It is stated that SB account holders of Post office can open Fixed Deposit online through Net Banking/ Mobile Banking.Have we to apply for Net Banking facility to Post office? You can open Post office FD with a minimum of Rs 1,000 and in multiples of Rs 100. As with all other Small Saving Schemes like PPF, SCSS, Post Office RD rates are also declared every quarter. What is the latest Post Office Interest Rates Oct – Dec 2020? *For 5 year tax-saver deposits, Interest rates for Q3, FY 2019-20 (October-December 2019) Please note that interest rates are reviewed every quarter by the Government for these schemes. The Post Office FD Interest Rate for 2020 (Jan to Mar) are as follows: Interests are compounded quarterly under this scheme. There is no limit to the number of FD accounts you can create in post office. In this article, we would provide Post Office Fixed Deposit Scheme details, features and interest rates which are applicable now in 2021. Great work ! For deposits made through cheques, the date of realization of the cheque will be the opening date of the FD. 7) What are post office FD rates for Senior Citizens? There is no additional interest for senior citizens, as they can choose to invest in Senior Citizen Saving Scheme. Post office offer FDs too. 7) You can transfer Post office FD from one post office to another. All about ISAs. However, in case of cheque or demand draft, the date of account opening is the day they get encashed. The current post office monthly income scheme interest rate is 6.60% (April – June 2020). Here are the details of the Post Office Fixed deposit schemes. I came to this page for one of the questions and instead, got all my questions answered here. me, have written 1800+ articles on this Blog. SBI offers 6.8% for less than 5 Years and 6.85% for 5 Years, Flexible Tenure – can choose from 45 days to 10 Years, Extremely Safe as guaranteed by Government of India, can be done only offline and so have to physically visit post office. The interest rate depends on the returns yielded by the Government Bonds of the same tenure. 6) Is it safe to invest in Post office FD schemes? Your email address will not be published. The interest earned is subject to TDS @ 10% if the annual interest paid is more than Rs 40,000 [Budget 2019], You can fill Form 15G/H in case you are eligible to avoid TDS. Being an adult, you can purchase KVP for self or a minor’s behalf or with some other adult from any Indian Post Office’s branch. Updated: August 10, 2020 6:05 pm IST. The reason for the same is the advantages offered by it. Latest Post office Small Saving Schemes Interest Rates Table (Oct – Dec 2020) Latest Interest Rate on Sukanya Samriddhi Scheme, PPF, MIS, NSC | Quarter 3 of FY 2020-21. I love doing analysis on various Best Investment Plans like mutual funds, Stocks, IPO’s, NCD Bonds, Insurance products. Also Read: Highest Interest Rate on Bank FDs (compared across 44 banks). He is NISM Certified - Investment Adviser. You can invest a minimum of Rs 100 in post office fixed deposit scheme. Post Office RD Interest Rate. Just to quickly recap, 3rd and 4th quarters of FY 2019-20, there was no change. Post office FDs are for 1 year, 2 years, 3 years and 5 year tenure. The interest on Post Office deposits was revised on 1 April 2020. 10) You can open Post office TD online provided you have a SB account and internet banking / mobile banking is activated. SCSS in Post office is specifically for Senior Citizens where they get higher interest rates. Kisan Vikas Patra – Double your money on maturity, if the annual interest paid is more than Rs 40,000 [Budget 2019], Free ebook for Income Tax Planning for FY 2019-20. The post office FD calculator would help you to calculate the maturity amount you would get based on the investment amount and tenure of the post office FD. 3) Can I close Post Office FD before maturity? 3) Post office 5 years Tax Saving FD is generally invested for tax saving purpose. Senior Citizen Saving Scheme (SCSS) is a post office savings scheme for senior citizens which also saves Income Tax. This rate is … 3 Year FD – 6.9%. For one-year time deposit, Post Office offers an interest rate of 6.9%. Please consult a qualified financial planner and do your own due diligence before making any investment decision. The website is not affiliated to any company, agent or brokers for selling/ recommending investments. AER: AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. For withdrawals between 6 months to 1 year, the investor would get only savings account interest rate. You need to approach post office and fill the deposit slip along with cash or cheque to open FD scheme. Ministry of finance has reduced post office FD rates in the last few quarters. Apart from the higher post office FD interest rates, here are some of the most prominent benefits of having a Post Office FD scheme are: This is a government scheme, so the Indian government takes the guarantee, thus the investors … There is no maximum limit. Post Office Savings Schemes Interest Rate Table has now been released. Or ye kitna safe hai? What is the highest Post Office fixed deposit interest rate? The trend of Post Office Interest Rates from April 2019 to April 2020. Post Office Fixed Deposit with a tenure of 5 years has an interest rate mark-up of 25 bps over the yield of comparable government securities. post office fd interest rate 2020. 8) You can open any number of post office FDs. Stove Kraft IPO Review – Should you Apply or Avoid? Ministry of finance would announce post office FD rate of interest every quarter that are applicable for that quarter only. Central govt. Fixed: A fixed rate of interest does not fluctuate and remains the same through out the lifetime of a savings account. The committee had suggested that the interest rates of these schemes should be 25-100 bps higher than the yields of the government bonds of similar maturity. Investors can also re-invest in the same scheme after the maturity period if they wish to. FAQs about Post Office Fixed Deposits / Time Deposits. Should you invest in Small banks Fixed Deposits? What are the latest Post Office interest rates on FDs, MIS, SCSS, NSC, KVP, PPF and SSY Schemes? Best Investment Plans in India and Money Saving Ideas, Post Office Fixed Deposits in 2021 – Interest Rates and Features. How to download Home Loan Interest Certificate for Tax Proofs submission? 2 Year FD – 6.9%. Below is the interest rate … For withdrawals between 6 months to 1 year, the investor would get only savings account interest rate. FD Interest Rates: For the quarter ending September 30, India Post provides a 5.5-6.7% return on FDs. Post office FDs are offered for 1 to 5 years tenure. 2) Interest rates on these Post Office FDs would vary based on the tenure. Investors can opt for the auto-transfer of withdrawals. 4) You can open Post Office FD for as low as Rs 100. Thank you Sunil. Post Office Saving Scheme 2021: PPF, NSC, FD, RD, MIS Interest Rate November 4, 2020 November 4, 2020 by wp admin Post Office Saving Scheme provides a number of the money-saving schemes in each and every branch of the post office in the country. Post office Fixed deposits are considered as one of the safest investment options as they are backed up by the Govt of India. Account can be opened with cash only with minimum of Rs 20 and no maximum limit. Earlier the interest rates used to be announced yearly once. Suresh KP i.e. 5) Post office fixed deposit is also known as the National Savings Time Deposit Account. Luckily GOI has retained the interest rates from Jul-20 onwards. All the information in the blog is for educational and informational purpose only. 2 Years and 3 Years deposit account will also fetch you up to 7% returns. INDIA POST FD calculator online - Calculate INDIA POST FD Interest rate using INDIA POST Fixed Deposit calculator 2021. Enter your email address to subscribe to this blog and receive notifications of new posts by email. One time you need to approach post office and apply for net banking / mobile banking and then you can open FDs online there-on, Your email address will not be published. Also Read: New Post Office Interest Rates in 2021, Features of Post Office Fixed Deposits (FDs). DCB Health Plus Fixed Deposit - 6.9% Interest + Free Health Benefits, 9.95% Edelweiss Financial Services NCD – December 2020 - Review, Suresh KP is the Founder of Myinvestmentideas. In case you are comfortable with the same it makes sense to invest in Post Office FDs. The money can be deposited either in cash, cheque or demand draft. Choose from variable rate, fixed rate or an Online ISA that gives you a combination of both. 4) You can open Post Office FD for as low as Rs 100. what interest rate payable for Premature Closure of FD Is there any penalty for premature F D s. Post office offers premature withdrawal , however the FD should be active for a minimum for 6 months. However, from 2016-17, the rate of interest will be fixed on a quarterly basis. There is no additional interest for senior citizens, … Mujhe post ofiice k mutual fund k bare me detail information de sakte hai eg.kitne se satart kr sakte hai kitne time k liye bech me withdrow kr sakte hai ki nhi? The post gives the details about the same. 5-year lock-in: Comes with a mandatory lock-in period of 5 years. As with all other Small Saving Schemes like PPF, SCSS, Post Office FD rates are also declared every quarter. Current interest rates on SCSS is 7.4% per annum. However, in the last quarter, the Government reduced the interest rates drastically. Post office savings account; Like a bank savings account, one can also open a savings account with a post office and interest is paid on the balance in the savings account by the post office. Also Read: Should you invest in Small banks Fixed Deposits? Interests are compounded quarterly under this scheme. You even need to have SB account so that FD interest is credited to SB account every year. The applicable interest rate would be as available on the day of maturity. Involves paperwork, Can be done online in most banks without much hassle, No special rates for Senior Citizens. After that you can always withdraw. If you enjoyed this article, share it with your friends and colleagues through Facebook and Twitter. Premature withdrawal is allowed only after the completion of 6 months of the FD tenure. for a tenure of 5 years Post Office Fixed Deposit can be opened offline by cash or cheque. }. Interest rates are ranging between 5.5% to 6.7%, depending on the tenure of the FD. Post Office Saving Account customer to submit duly filled request form in respective Post Office, After enabling desired service in customers Savings Accounts by Post Office, customer will get activation code on his/her mobile within 48 hours to proceed further. 2) Post Office FD interest rates – 5.5% to 6.7%. Effective April 1, 2018 Interest income up to Rs 50,000 is exempted from tax for Senior citizens u/s 80TTB [Budget 2018], Download: Free ebook for Income Tax Planning for FY 2019-20. FDs of other tenure are not eligible for income tax exemptions. Interest rates on this FDs as of now is 6.7% per annum. Interests are compounded quarterly under this scheme. If required the account can be transferred from one post office to other. Tax Implications: Depositors can claim up the tax to a maximum of Rs. 5) Can I avail income tax exemptions on Post office Fixed Deposits? However, you need to have SB account and internet banking or mobile banking to that effect. You might think that it is cumbersome to visit post office each time. Check INDIA POST FD rate of interest and calculate FD final amount via INDIA POST FD Calculator on The Economic Times. If you have Post office Fixed deposits and you have moved to a new location, you can submit SB 10(b) form at post office so that they can shift your account too. 3) Post office 5 years Tax Saving FD is generally invested for tax saving purpose. Moreover, the rate of interest of FD in Post Office differs with each tenure. Yes. Also Read: How to Pay 0 Income Tax on Rs 20 Lakh Salary? Post Office Fixed Deposit Interest Rates in 2021. You can login to internet banking / Mobile banking and open Post office Time Deposit (TD) online. Interest rates are ranging between 5.5% to 6.7%, depending on the tenure of  the FD. For a 10-year FD, SBI is offering a 6.25% interest rate whereas HDFC Bank is offering an interest rate of 6.9%. Pls share such posts on your FB which might be useful to your friends too. Please note that though interest is paid annually, it is actually compounded quarterly. The Post Office RD Interest Rate for 2020 (Jan to Mar) are 7.2%. 3 Year FD – 6.9%. The interest payouts occur monthly. Highest Interest Rate on Bank FDs (compared across 44 banks), Usually Higher. This can be either on one or joint names. The latest Post Office FD interest rates vary from 6.9% for 1-year deposit to 7.7% for 5-year deposit. Essentially each FD created is like different account. So, our today’s topic of discussion is on “Post office FD Interest rates 2020”. Your email address will not be published. Nomination can be done at the time of account opening or afterwards. 4) What is the minimum and maximum amount to invest in Post office FD? The Post Office FD Interest Rate for 2020 (Jan to Mar) are as follows: 1 Year FD – 6.9%. Post office offers premature withdrawal of your fixed deposits. Required fields are marked *. There is no maximum amount in Post office FD. There is a nomination facility as well. The minimum investment amount is Rs 200 and there is no maximum investment limit. Any adult (more than 18 years of age) Indian can open Post Office FD Account. You can get income tax exemptions only on Post office Tax Saving FD of 5 years. 5 Year account will fetch you up to 7.8% returns. For one-year time deposit to three years, it offers an interest rate of 5.5%. There is no additional interest … 5 Year FD – 7.7%. This is really a shocking to all those who are completely relying on Post Office Saving Schemes. They can opt for Senior Citizen’s Saving Scheme which has higher interest rate, Banks usually offer 0.25% to 0.6% higher interest rate for Senior Citizens. Post Office FD Calculator. There is no maximum amount in Post office FD. 1,50,000 under Section 80C of the IT Act, 1961 if invested in 5-year term deposits. There may be penalty for the same. Post Office Fixed Deposit scheme is one of the preferred choices of many. Yes. 1 Year Deposit account will fetch you returns up to 7%. SCSS in Post office is specifically for Senior Citizens. You would get just SB interest rate which is 4% per annum. For all withdrawals beyond 1 year, an exit penalty of 1% is charged. There is no maximum limit on FD. On maturity the account can be renewed with the same tenure as it was initially opened. Till a couple of years, Ministry of finance used to announce Post office FD rate of interest once in a year. Interest rates on this FDs as of now is 6.7% per annum. How to Pay 0 Income Tax on Rs 20 Lakh Salary? 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