National Savings Time Deposit (TD)
Ministry: Ministry Of Communication
The objective of the National Savings Time Deposit (TD) scheme is to promote safe and fixed-term savings by offering assured returns, encouraging individuals to invest regularly with flexible deposit amounts and no upper limit.
About This Scheme
Benefits
Four categories of the TD Accounts are available i.e.,1-year TD, 2-year TD, 3-year TD and 5-year TD.
Interest payable, Rates, Periodicity etc.Minimum Amount for opening of account and maximum balance that can be retained6.9% to 7.5%Minimum INR 1000/- and in multiples of 100. No maximum limit.Interest Rates
Interest rates From 01.01.2024 to 31.03.2024
1 year TD Account: Rate of interest - 6.9%
2 year TD Account: Rate of interest - 7.0%
3 year TD Account: Rate of interest - 7.1%
5 year TD Account: Rate of interest - 7.5%
Deposits
₹1.0K
Account can be opened with minimum of ₹ 1000 and in multiple of ₹ 100.
No maximum limit for investment.
Interest shall be compounded quarterly and 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No additional interest shall be payable on the amount of interest that has become due for payment but not withdrawn by the account holder.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 either to the Post Office Savings Account or Bank Account of the customer if mandate (standing instruction/ ECS mandate) is given in writing.
The investment under 5-year TD qualifies for the benefit of section 80C of Income Tax Act, 1961
Eligibility
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Required Documents
- ✦Account opening form (duly filled and signed)
- ✦Identity proof (Aadhaar card / PAN card / Voter ID / Passport)
- ✦Address proof (Aadhaar card / utility bill / bank statement)
- ✦Passport-size photographs
✦ Required ◦ Optional
How to Apply
Quick Info
- Level
- Central Government
- Max benefit
- ₹1.0K