Post Office Special FD Schemes 2025
Post offices in India offer various financial schemes including recurring deposit accounts, fixed deposit accounts, certificates, special schemes for farmers, etc.
These schemes come with a wide range of benefits and can be opened at any designated post office in India.
They are similar to the financial services offered by banks and other financial institutions.
Post Office Fixed Deposit Schemes
Post offices offer fixed deposit schemes with interesting rates of interest and a wide range of benefits. Interest rate for each tenure for post office fixed deposit is fixed. The post office offers different kinds of fixed deposit schemes to choose from.
Special Fixed Deposit Schemes offered by Post Offices
Post offices offer a wide range of savings schemes including Fixed Deposit schemes. Listed below are some of the special fixed deposit schemes offered by post offices in India and its features:
Post Office Time Deposit Account
Post office time deposit account is a fixed deposit account that can be opened and maintained by any eligible individual. It works like any other fixed deposit account where in the individual deposits a certain amount of money into the account once and earns interest on the amount deposited until the term of the policy ends.
The account comes with an investment period of 5 years. Premature closure of the account is allowed.
Tenure (in months) | Rate of Interest (per annum) |
12 months | 6.90% |
24 months | 7.00% |
36 months | 7.00% |
60 months | 7.50% |
Senior Citizens Savings Scheme
Senior citizens savings scheme is a scheme designed especially for senior citizens above the age of 60. The account comes with a maturity period of 5 years.
Deposit can be made only once and should be made in multiples of Rs.1,000 and the maximum amount that can be deposited is Rs.15 lakh.
Tenure (in months) | Rate of Interest (per annum) |
5 years | 8.20% |
15 year Public Provident Fund
PPF or Public provident fund is one of the best fixed deposit schemes offered by post offices. Deposits can be made either at once with a lump sum amount or in 12 monthly installments.
The rate of interest offered on the fixed deposit account currently is 7.1%. Premature closure is not allowed for the account.
Tenure (in months) | Rate of Interest (per annum) |
15 years | 7.1% |
Post Office Monthly Income Scheme
Monthly income scheme(MIS) is one among the many fixed deposit schemes offered by the post offices in India. Any eligible individual can open the account at designated post offices.The deposit should be made in multiples of Rs.1,000 and the maximum amount that can be invested is Rs.4.5 lakh. The maturity period on this account is 5 years.
Tenure (in months) | Rate of Interest (per annum) |
5 years | 7.50% |
Features and Benefits of Post Office Special FD Schemes
Post Office Time Deposit Scheme
- Minimum deposit amount of Rs.1,000.
- Tenure ranging between 1 year and 5 years.
- You can avail tax benefits under Section 80C of the Income Tax Act 1961, if you avail this scheme for a tenure of 5 years.
Senior Citizen Savings Scheme
- Minimum deposit amount of Rs.1,000.
- Interest payable on a quarterly basis.
- You can extend the scheme for a further 3 years from the date on which deposit matures.
15-year public provident funds
- Minimum deposit amount is Rs.500 and maximum are Rs.1.5 lakh.
- Deposits qualify for tax deductions under Section 80C of the Income Tax Act.
- You can avail loan against deposit after the completion of 1 year.
Post Office Monthly Income Scheme
- Minimum deposit amount is Rs.1,000
- Maximum deposit amount is Rs.4.5 lakh for single account, and Rs.9 lakh for a joint account.
- Interest payable on a monthly basis.
FAQs on Post Office Special FD Schemes
- What is better? Bank FDs or Post Office FDs?
There is not much difference between Bank FD and Post Office FD schemes except for a few. In case of banks, they can revise their interest rates as per the performance of the market and hence different banks offer different interest rates. In case of post office, the interest rate is revised every quarter. The tenure for bank FDs may vary between 7 days and 10 years, while the maximum tenure offered in case of post office FD is up to five years. Post office FDs are more secure as well.
- Can I extent the tenure of my FD account?
The maximum tenure offered is 5 years. However, at the time of opening the account, you can submit a request to extend the tenure of your FD account from the maturity date.
- Is premature withdrawal of FD account permitted?
No, you can only withdraw money from your account prematurely once you have completed six months of opening of the fixed deposit account.
- Can I avail loan against my post office FD scheme?
At the present, the facility to avail loan against your post office FD scheme is not permitted.
- I have a child who is 8 years old. Can I open a post office FD in his/her name?
No, your child must be aged 10 years and above to be eligible for a post office FD opened in their name. Once the child is eligible, you can open an FD account in their name.
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