Post Office FD Extension Rules: In how many years, Rs 6 lakh investment in FD can become Rs 18.29 lakh? Know here
Post Office FD Extension Rules: National Savings Time Deposit Account (TD), or Post Office Time Deposit Account, is also known as post office FD. The scheme offers 1-, 2-, 3-, and 5-year guaranteed return schemes.
Post Office FD Extension Rules: National Savings Time Deposit Account (TD), or Post Office Time Deposit Account, is also known as post office FD. The scheme offers 1-, 2-, 3-, and 5-year guaranteed return schemes. One can have a single or a joint account, and any number of accounts can be opened in the post office FD.
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(Disclaimer: This is not investment advice. Do your own due diligence or consult an expert for financial planning.)
Post office FD
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Post office also offers FD schemes, which are known as National Savings Time Deposit Account (TD), or Post Office Time Deposit Account. It offers 1-, 2-, 3-, and 5-year FDs, where interest is payable annually but calculated quarterly. Unlike many bank FDs, it doesn't offer monthly, quarterly, or half-yearly withdrawals. On maturity, the FD offers the facility of extension, where the policy holder can extend their FD period within months of the maturity period. Post office offers unlimited extensions of FDs.
Post Office FD: Minimum and maximum investment
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Post Office FD: Interest rates
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Post Office FD tax benefits
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Post Office FD: Premature closure of account
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Post Office FD: Premature closure of account
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Post Office FD: Extension of account
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On maturity of the FD, a depositor can further extend their account for another tenure.
The FD account can be extended from the date of maturity within the following prescribed period.
1-year FD = Within 6 months of maturity
2-year FD = Within 12 months of maturity.
3/5-year FD = Within 18 months of maturity.
Post Office FD: Extension of account
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How Rs 6 lakh investment will become Rs 18.29 lakh
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How Rs 6 lakh investment will become Rs 18.29 lakh
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