New Delhi30 minutes ago
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The government has not changed the interest rates on small savings schemes for the October-December quarter (Q4FY26). That means you will continue to get the same interest as before. If you are planning to make a fixed deposit these days, then before that you should also know about the National Savings Time Deposit Account of the Post Office.
Here we are telling you about the National Savings Time Deposit Scheme of the Post Office…
Minimum investment of ₹1000 in National Savings Time Deposit Account
- This is a type of FD. By investing in it for a fixed period, you can get fixed returns.
- Time deposit accounts offer interest rates ranging from 6.9% to 7.5% for tenures ranging from 1 to 5 years.
- A minimum investment of Rs 1000 has to be made in this. There is no limit on maximum investment.
How much time will it take for the money to double? The maximum interest available in National Savings Time Deposit Account is 7.5%, so according to Rule 72, if you invest money in this scheme, it will take about 9 years and 6 months for the money to double.
What is Rule of 72? This special rule of finance is Rule of 72. Experts consider this to be the most accurate rule by which it is decided in how much time your investment will double. You can understand this that if you have selected a special scheme of the bank, where you get 8% interest annually. In such a situation, you will have to divide 72 by 8 under the rule of 72. 72/8 = 9 years, i.e. under this scheme your money will double in 9 years.
You get the benefit of tax exemption if you invest for 5 years By investing in Time Deposit Scheme for 5 years, you can avail tax exemption under Section 80C of the Income Tax Act 1961. Under this, you can avail income tax exemption on investment up to Rs 1.50 lakh. That is, this earning is subtracted from your total annual income. However, this benefit will be available only if you file ITR under the old income tax regime.
Who can open an account?
Anyone can open this account in any post office:
- Single Account: Any adult.
- Joint Account: 2 or 3 people together (like you and your wife).
- For minor: Children over 10 years of age can operate it themselves, or a parent can open it for them.
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