Tue, Feb 27, 2024
National Savings Time Deposit Account is also known as Post Office FD. The central government investment scheme offers guaranteed returns and a minimum interest rate of 6.9 per cent, calculated annually and compounded quarterly. The five-year Post Office FD scheme offers the highest interest rate of 7.5 per cent and tax benefits up to Rs 1.50 lakh in a year under Section 80C of the Income Tax Act. The five-year FD also falls in the EEE category, where the interest earned and maturity amount are also tax free. Know how much you will earn in Post Office FDs after investing Rs 1 lakh.
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