POST OFFICE TIME DEPOSIT SCHEME FULL DETAILS | Post Office Saving Scheme | Full Details in Tamil |
3POST OFFICE TIME DEPOSIT SCHEME FULL DETAILS | Post Office Saving Scheme | Full Details in Tamil |
In this video you can learn Post Office Time Deposit Scheme 2021 in Tamil
Below topics covered in this video:
1. Post office time deposit scheme 2021 full details in tamil
2. Post office savings scheme – Fixed deposit
3. Post office Best savings and investment scheme in tamil
Post Office Time Deposit (POTD) Account is one of the most popular post office savings schemes. The interest rates are determined by the Finance Ministry every quarter. The rates are based on the yield of government securities and spread over the government sector yield.
Investments in a post office fixed deposit account have a minimum requirement of INR 1,000. One can open a TD account for any of the following tenures; one year, two years, three years and five years. Also, depositors can opt for reinvestment of the interest. However, this option is not available for one year TD. Additionally, one can also choose to redirect the interest to a five-year recurring deposit scheme.
Time deposits can also be transferred from one post office to the other. Also upon maturity, if the depositor doesn’t withdraw, then the amount will be reinvested for the initial tenure of the deposit at the new applicable interest rates.
Investments in the post office fixed deposits qualify for a tax deduction in Section 80C of the Income Tax Act. Investors can claim tax benefits up to INR 1.5 lakhs per annum. They can claim the tax benefit when they file income tax returns.
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