Post Office Time Deposites
- a single adult
- Joint Account (Maximum 3 adults)
- Minor above 10 yearsof age
- A guardian on behalf of a minor/Person of unsound mind
- 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
- 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
-
Any number of accounts can be opened in any post office
-
Single account can be converted into Joint and Vice Versa
-
Minor after attaining majority has to apply for conversion of the account in his name.
-
TD account can be extended by giving an application in account office
-
Interest shall be payable annually, No additional interest shall be payable on the amount of interest that has become due for payment but not withdrawn by the account holder
-
The annual interest may be credited to the savings account of the account holder at his option
-
Premature encashment not allowed before expiry of 6 month, If closed between 6 month to 12 month from date of Opening, Post Office Saving Accounts interest rate will be payable
-
The investment under 5 Years TD qualifies for the benefit of Section 80C of the Income Tax Act, 1961 from 1.4.2007.
-
Online Account Opening facility is available through Intra Operable Netbanking/Mobile Banking