ü Minimum
INR 200/- and in multiple thereof. No maximum limit.
ü Interest
payable annually but calculated quarterly.
From 1.4.2014, interest rates are as follows:-
Period Rate
1yr.A/c- 8.40%
2yr.A/c- 8.40%
3yr.A/c- 8.40%
5yr.A/c- 8.50%
From 1.4.2014, interest rates are as follows:-
Period Rate
1yr.A/c- 8.40%
2yr.A/c- 8.40%
3yr.A/c- 8.40%
5yr.A/c- 8.50%
ü Account
may be opened by individual.
ü Account
can be opened by cash/cheque and in case of cheque the date of realization of
cheque in Govt. account shall be date of opening of account.
ü Nomination
facility is available at the time of opening and also after opening of account.
Account can be transferred from one post office to another.
Account can be transferred from one post office to another.
ü Any
number of accounts can be opened in any post office.
ü Account
can be opened in the name of minor and a minor of 10 years and above age can open
and operate the account.
ü Joint
account can be opened by two adults. Single account can be converted into Joint
and Vice Versa.
ü Minor
after attaining majority has to apply for conversion of the account in his
name.
ü In
CBS Post offices ,when any TD account is matured, the same TD account will be
automatically renewed for the period for which the account was initially opened
e.g 2 Years TD account will be automatically renewed for 2 Years. Interest rate
applicable on the day of maturity will be applied.
ü The
investment under 5 Years TD qualifies for the benefit of Section 80C of the
Income Tax Act, 1961 from 1.4.2007.