Post Office Time Deposits

Overview of Post Office Time Deposits (POTD)

The Post Office Time Deposits are small savings schemes of India. The issuer of POTD is the Government of India. These investment options are amongst the most lucrative schemes and are available in various versions.

Types of Post Office Time Deposits (POTD)

Following are the various kinds of Post Office Time Deposits that are available nowadays. The variety of Post Office Time Deposits depends on the time period needed for these savings instruments as listed below:

5 year

1 year

3 year

2 year

Regulations of Opening Post Office Time Deposits (POTD)

There are certain laws that govern the opening of Post Office Time Deposit (POTD) accounts:

Either one or two people who are above the age of eighteen years can open a Post Office Time Deposit (POTD) accounts.
The Institutional Accounts can be opened by the Treasurer of Charitable Endowments for India.
A pensioner who is about to either credit or get his pension that is due for the month can open a POTD account.
A scheduled bank or a cooperative bank can open a Post Office Time Deposit account. They can open these accounts for the sake of their members, employees and members.
The Group Accounts can be opened by Provident Fund, Gratuity Fund or the Superannuation Fund.
While still in his office a gazetted officer can open a Post Office Time Deposit (POTD) accounts. The Public Accounts can be opened by a regional governmental organization.

The Post Office Time Deposits accounts can be created in all post offices across India.

Deposit Limits of Post Office Time Deposits (POTD)

The lower limit of the money that may be invested in a Post Office Time Deposit (POTD) account is Rs. 200. However, there is no upper limit to the money that can be invested in a Post Office Time Deposits (POTD).

Interest Payments of Post Office Time Deposits (POTD)

The Post Office Time Deposits offers different rates of interest for each kind. The 1-year Post Office Time Deposits (POTD) provides 6.25% per year while the 3-year Post Office Time Deposits give a rate of 7.25%.

The 2-year Post Office Time Deposits has an interest rate of 6.5% and the account holders of 5-year Post Office Time Deposits receive a rate of interest of 7.5%. The payments are normally made when the particular account matures.