1. Home
  2. Banking
  3. Tax
  4. Forms
  5. ppf - ssy
  6. Sr. Citizen
  7. Widgets
  8. Misc.
  1. Home ➤ 
  2. Banking ➤ 
  3. You Are Here

Post Office Time Deposit Accounts


Post Office Time Deposit Accounts offers the facility of investing surplus funds at relatively higher rates of interest. The deposits made under this scheme for a period of 5 years are also eligible for tax benefits under section 80C of Income Tax Act.

Salient features PO TD Accounts

Please click / tap on feature name to hide / view its content.

Any individual singly or jointly with another adult.

An adult individual on behalf of a minor.

₹ 200/-
In multiples of ₹ 200/-. No upper limit.
One year, Two years, Three years and Five years.
A deposit account opened in a Post Office working on CBS platform shall be automatically renewed on maturity, for the same period it was opened initially at the rate of interest prevailing on date of such renewal.
Available
1 Year2 Years3 Years5 Years
Upto 30.11.20116.25%6.50%7.25%7.50%
01.12.2011 to 31.03.20127.70%7.80%8.00%8.30%
01.04.2012 to 31.03.20138.20%8.30%8.40%8.50%
01.04.2013 to 31.03.20148.20%8.20%8.30%8.40%
01.04.2014 to 31.03.20168.40%8.40%8.40%8.50%
01.04.2016 to 30.09.20167.10%7.20%7.40%7.90%
01.10.2016 to 31.03.20177.00%7.10%7.30%7.80%
01.04.2017 to 30.6.20176.90%7.00%7.20%7.70%
01.07.2017 to 31.12.20176.80%6.90%7.10%7.60%
01.01.2017 to 30.09.20186.60%6.70%6.90%7.40%
01.10.2018 to 31.12.20186.90%7.00%7.20%7.80%
01.01.2019 to 30.6.20197.00%7.00%7.00%7.80%
01.07.2019 to 31.303.20206.90%6.90%6.90%7.70%
01.04.2020 onwards5.50%5.50%5.50%6.70%
The interest on deposits is calculated on quarterly compounding basis and is payable annually.
Available
Allowed after expiry of six months from the date of deposit, subject to following conditions :

For accounts opened upto 30.11.2011: No interest is paid for the deposit withdrawn prematurely after six months but before the expiry of one year.

In case of deposits for two, three or five years withdrawn prematurely after the expiry of one year from the date of deposit, interest is payable for the completed years and months at 2% lower rate than specified for the completed period.

For Accounts opened on or after 1st December 2011:

Where a deposit in 1-Year, 2-Years, 3-Years or 5-Years account is withdrawn prematurely after 6 months but before expiry of one year from the date of deposit, simple interest at the rate applicable to Post Office Saving Account from time to time shall be payable.

In case of deposits for two, three or five years withdrawn prematurely after the expiry of one year from the date of deposit, interest is payable for the completed years and months at 1% lower rate than specified for the completed period.

The investments under Post Office Time Deposits for 5 years are eligible for deduction from taxable income under section 80C of Income Tax Act.
With effect from 1st April 2018 (AY 2019-20) Senior Citizens (i.e. Residents aged 60 years or above) are eligible for exemption of interest income from Bank / Post Office deposits (Saving accounts / Time deposits / RD accounts) upto ₹ 50,000/- under Section 80TTB. (They are, however, not eligible for rebate under section 80TTA.)

Account holder other than Senior Citizens are not eligible for any exemption.

A deposit can be renewed with retrospective effect, subject to the following :
Period elapsed from the date of maturityMinimum period of re-deposit
6 months or less1 year
More than 6 months up to 12 months2 years
More than 12 months up to 18 months3 years
More than 18 months5 years
0.5%

Disclaimer : This site does not make any claim that the information provided on its pages is correct and up-to-date. The contents of this site cannot be treated or interpreted as a statement of law. In case, any loss or damage is caused to any person due to his/her treating or interpreting the contents of this site or any part thereof as correct, complete and up-to-date statement of law out of ignorance or otherwise, this site will not be liable in any manner whatsoever for such loss or damage.

Updated : Mar 31, 2020
You may like to View / Use / Download
Income Tax Calculator AY 2021-22
Calculate Taxable Income and Income Tax Liability of Individuals for AY 2021-22.
Income Tax Slabs / Rates AY 2021-22
View income Tax Rates & Slabs for AY 2021-22 as per Existing and New Tax Regimes.
Advance Tax Calculator AY 2021-22
Calculate Advance Tax payable by Individuals on various due dates.
Interest u/s 234A B C Calculator
Calculate Interest payable under Section 234A, 234B and 234C.
TDS Calculator AY 2021-22
Calculate TDS deductible on Salary and Other payments to different payees for AY 2021-22.
TDS Rates AY 2021-22
TDS Rates (Revised) for all payments and payees for AY 2021-22
Tax Saving Calculator
Calculate Tax savings for various Tax Saving investments.
Post Office Small Saving Calculators
Use Calculators for NSC, PO MIS, SCSS, PO RD, PO TD and KVP Schemes.
PPF Calculator 2020
Use PPF calculator for calculation of Maturity Date, Maturity Value, Interest and Return on Investment.
SSY Calculator 2020
Use SSY calculator for calculation of Maturity Value, Interest and Return on Investment.
Challan 280 in fillable Excel and PDF
Download fillable Income Tax Challan 280 in Excel / PDF
TDS form 16 in Excel with Calculation formulas
Download fillable Income Tax Form 16 in Excel with auto calculation formulas.
PAN & TAN forms and Annexures in fillable PDF
Download fillable PAN and TAN forms
Post Office forms in Fillable PDF
Download fillable Post Office forms
SBI Lending Rates for Perquisite Valuation
View SBI Lending Rates for Perquisite Valuation
PMVVY Calculator
PMVVY (Pradhan Mantri Vaya Vandana Yojana) 2020 Calcultor