1 year to less than 2 … Here are the Sukanya Samriddhi Yojana details. ... National Savings Recurring Deposit Account: INR. PPF, Sukanya Samriddhi Scheme, NSC, MIS, SCSS, RD,FD These rates are in turn determined as per the performance of government securities/bills. Hi Suresh If you are moderate to high risk investor and willing to invest for long term, you can go for SIP mutual funds. Section 194DA -TDS on Maturity of Life Insurance Policy, National Savings Time Deposit Account (TD). As with all other Small Saving Schemes like PPF, SCSS, Post Office RD, POMIS rates are also declared every quarter. NSC is available for 5 years tenure. TDS (Tax deduction at source) at the rate of 10% (started from June 2015) is deducted, if the interest … This FD scheme is eligible for income tax deduction u/s 80c up to Rs 1.5 Lakhs. You can invest a minimum of Rs 1,000 and in multiples of Rs 100 thereof. Hi, Here is the revised and latest interest rates on small saving schemes that are applicable for the period January, February and … However, for SBI, the interest rates vary from tenure to tenure. 7.15% Power Finance Corporation NCD Bonds Jan-2021 issue - Review, These 5 Tax Saving Fixed Deposits Offer interest rates up to 6.75%, Suresh KP is the Founder of Myinvestmentideas. Shriram Transport Finance FD Scheme offers up to 10% yield. This article covers the various options available under post office schemes along with their interest rates table, calculators related to FD, RD, and monthly income schemes. The PPF interest rate for 2020 is 7.1%. National Savings Recurring Deposit Account (5 Years RD). Any individual of the age of 60 years and above can open SCSS. One can deposit a minimum of Rs 1,000 and maximum of Rs 15 Lakhs. Senior Citizens Saving Scheme (SCSS) interest rate is 7.4% per annum for July to Sep 2020. Trend of Post Office Small Saving Scheme Interest Rates in the last few quarters. Moreover, the rate of interest of FD in Post Office differs with each tenure. Latest NSC interest rate in … Post Office Saving Scheme 2021: PPF, NSC, FD, RD, MIS Interest Rate November 4, 2020 November 4, 2020 by wp admin Post Office Saving Scheme provides a number of the money-saving schemes in each and every branch of the post office … Post office RD can be opened as low as Rs 100 per month and in multiples of Rs 10 per month there on. If you are willing to make regular investments for a higher interest rate, you can invest in 5 years RD for generating the desired returns. Somaiya Institute of Management Studies. From To Interest Rate… 7) Latest Sukanya Samriddhi Account interest rate is 7.6%. Also read: RBI Floating rate saving bonds 2020 – Should you invest? Interests are paid monthly under this scheme. Interest earned is taxable too. You can invest a minimum of Rs 1,000 and in multiples of Rs 100 thereof. Post Office Recurring Deposit Scheme (RD): Interest Rates 2021, Maturity Calculator, Premature Withdrawal Rules December 24, 2020 January 4, 2021 Post Office Recurring Deposit (PORD) Scheme is a systematic savings plan, where you can deposit your money for a definite time period and earn interest … Subscribe to our newsletter to get the latest scoop right to your inbox. Post office FDs are for 1 year, 2 years, 3 years and 5 year tenure. If you are low risk taker and okay with these returns / fluctuating interest rates (like in current scenario), one can go for PPF, Your email address will not be published. You can invest a minimum of Rs 500 and maximum of Rs 1.5 Lakhs in a financial year. This will benefit many people, Sure Nanmith, can you pls post on suggest a topic so that it would be on my radar to post next week. In this post office scheme, the individual applicant should be a girl child aged between 1-10 years. Post office RD interest rate is 5.8% per annum. There is a wide range of interest rates available varying from 4% in post office savings account to 8.7% in the Senior Citizens Savings Scheme. Also Read : Senior Citizen Savings Scheme 2020. If you have a lump-sum amount for investment, you can invest in the time deposit scheme of the post office. Post office NSC Interest Rate in 2020 now – 6.8% (VIII issue) NSC is available for 5 years tenure. Such amount would qualify for IT deduction u/s 80c. Post office recurring deposit also called as National Savings Recurring Deposit is offered for 5 years tenure. Post office National Savings Certificate (NSC) – VIII issue. Updated: August 10, 2020 6:05 pm IST. If you liked my blog and want to discuss further on comprehensive fee only financial planning, feel free to get in touch by visiting Finvin Financial Planners. GST Rate on Real Estate – Under Construction & Completed Property, Cost Inflation Index Calculation for FY 2019-20 & AY 2020-21, Financial Advisor Fees Structure, Cost & Charges in India. Your money will double in 9 years. RBI Floating rate saving bonds 2020 – Should you invest? The KVP interest rate now in 2020 is 6.9%. The interest rate for FD is 7.7% and it’s compounded annually. Post Office MIS interest rate is 6.6%. One can easily enroll in a scheme at authorised post office branches and banks situated across India. There are multiple factors for this change and thus it is very important for potential-investors to have a good understanding of RD interest rates … Best Investment Plans in India and Money Saving Ideas, Latest Post Office interest Rates – Jul, Aug and Sep 2020. Suresh KP i.e. I love doing analysis on various Best Investment Plans like mutual funds, Stocks, IPO’s, NCD Bonds, Insurance products. If you are investing for fulfilling your long term financial plan, KVP is the best low-risk savings option. Such interest rate makes it one of the most preferred investment options available. If you want to make an investment for your daughter’s education and marriage, Sukanya Samriddhi Account (SSA) is the best option. If you want to go for a normal savings account, then the post office savings account is the best option for you. 112 months. Should I Surrender My Jeevan Anand Policy from LIC? POST OFFICE RD calculator online - Calculate POST OFFICE RD Interest rate using POST OFFICE Recurring Deposit calculator 2021. SBI RD rates effective 8 January 2021. Post office Small Saving Schemes and their features. Revised Post Office Small Saving Schemes Interest rates Oct – Dec 2020. NSC … FD Interest Rates: For the quarter ending September 30, India Post provides a 5.5-6.7% return on FDs. Also Read: Shriram Transport Finance FD Scheme offers up to 10% yield. This is variable, i.e. Post Office MIS Interest Rate. If you liked my blog and want to discuss further on comprehensive fee only financial planning, feel free to get in touch by visiting Finvin Financial Planners. Post office savings account; Like a bank savings account, one can also open a savings account with a post office and interest is paid on the balance in the savings account by the post office… Investment is eligible for tax benefit under Section 80C. Your email address will not be published. Additionally, the compound interest … I already wrote a detailed post … After maturity, the SCSS can be extended for a further 3 years within 1 year of the maturity by giving application in prescribed format. Investment is eligible for tax benefits under Section 80C for 5 years. This article covers the various options available under post office schemes along with their interest rates table, calculators related to FD, RD, and monthly income schemes. In the last quarter (July-Sept 2020), Government not changed the interest rates … If you’re planning to go for long term debt investment, PPF is undoubtedly the best option. At the same time, you can purchase Kisan Vikas Patra for a time period of 9 years and 4 months. This is an interesting blog . It’s so because these Schemes are only available for individuals residing in India, e.g. Most of the post office schemes offer tax benefits under Section 80C. However the transfer process will be done by respective Head Post Offices. The PPF maturity period is 15 years, but can be extended within one year of maturity for the further 5 years and so on. You can open Post office FD online by logging into internet banking of the post office portal. The interest is compounded annually and payable on maturity. me, have written 1800+ articles on this Blog. If you want to go for long term investments, NSC is a relatively better option. Customers can choose to deposit a fixed sum of money for … An individual of the age of 55 years or more but less than 60 years who have retired on the superannuation or under VRS can also open account subject to the condition that the account is opened within one month of receipt of retirement benefits and amount should not exceed the amount of retirement benefits. SBI RD interest rates vary between 5.80%-6.25% for general public and an additional interest rate hike of 50 basis points for senior citizens. Child`s education and Marriage Planning with Asset Allocation, How To Choose The Best Personal Accident Insurance Policy – Comparison, House Rent Allowance Rules and Regulations – HRA 2019-20, Gratuity Formula – Rules, Limit, Eligibility & Calculation 2020, Gift Tax Rate in India – Limits, Exemptions and Rules 2019-20, NRI PPF Rules – Account and Notification 2019. The interest is compounded annually and payable on maturity. Regular Savings Scheme - Banks offer recurring deposits to Indian citizens above the age of 18 years. Read about: Post Office Recurring Deposit Rates How to Calculate Compound Interest on Post Office Recurring … By:MoneyChai Investment Last Updated: 7 Apr, 2020. However, the only apparent exception is the Sukanya Samriddhi Scheme (SSA). The trend of Post Office Interest Rates from April 2019 to April 2020. Online Deposit facility is available through Intra Operable Netbanking and IPPB Saving Account. Post Office Schemes have become increasingly popular among investors nowadays because they are government-backed and promise risk-free returns simultaneously. Investment, interest and maturity is tax free. Such amount would quality for income tax deduction u/s 80c. There is no additional interest … Below is the interest rate … Such amount would quality for income tax deduction u/s 80c up to Rs 1.5 Lakhs during the financial year. But when it comes to investing in these schemes, it becomes extremely important to consider all the available options. What are the latest Post Office interest rates on FDs, MIS, SCSS, NSC, KVP, PPF and SSY Schemes? Post Office RD Plan 2020 and Post Office Recurring Deposit scheme explained in Hindi. It must be noted that NRIs are not allowed to invest in these Schemes. Also, you can calculate the amount at maturity. I have over 10 years of experience in the field of insurance and have worked with top two private insurance players in the country. I want to invest in PPF per month 3000 rs. SSA can be closed after completion of 21 years. On the other hand, if the prevailing rate of interest is 7.7%, as in Kisan Vikas Patra, your money will double in 9 years and 4 months. Divide 72 by the prevailing interest rates. I am Ajay Pruthi, an alumnus of NIT Jalandhar and K.J. If you observe NSC interest rate chart, it shows in declining mode in the last few quarters. In this article we would provide the latest and revised post office interest rates that are applicable for July to September, 2020. You can open Post office savings account with Rs 500. Interest Rates on PPF is 7.1%, … Sukanya Samriddhi Yojana interest rate is 7.6%. The Post Office MIS Interest Rate for 2020 (Jan to Mar) are 7.6%. There are several other features like any other bank account. Please let me know is it wise decision? Since all post office deposits are government-backed, they’re completely safe and come with security assurance. Premature withdrawal is allowed after 1 year, however, it would be to 1.5% lower interest rate & after 2 years it would be 1% lower deposit rate. You notice that there is a huge fall in the interest rates of all Post Office Saving Schemes. Latest Post Office Interest Rates Oct – Dec 2020. Enter your email address to subscribe to Moneychai and receive News Letter. Required fields are marked *. LIC Jeevan Labh Review – Why Every Blogger Ended Up Calculating Wrong Returns? The interest is payable annually but calculated quarterly. Post Office Monthly Income Scheme (POMIS). They have indicated no changes in small saving scheme interest rates in July, August and September, 2020 compared to earlier rates announced for Apr-Jun period. I have over 10 years of experience in the field of insurance and have worked with top two private insurance players in the country. Earlier the interest rates used to be announced yearly once. If you enjoyed this article, share it with your friends and colleagues through Facebook and Twitter. 6) The government decides the 5-year RD rate for Post Office. Great work and keep it up. Th schemes are risk-free as they’re backed by the Government of India. In case of RD the interest received is added to the income and taxed at marginal tax slab. I am a Certified Financial Planner and currently working as a Paraplanner with Mr. Melvin Joseph, founder of Finvin Financial Planners. If you are looking for the post office scheme to double the money, you can invest in KVP. Sukanya Samriddhi comes under EEE. Furthermore, these schemes offer good returns along with the highest level of safety and assurance for financial security in the future. Here is the last 8 quarter interest rates trend which would give an idea to investors how these interest rates are moving. They have retained existing interest rates of the small saving schemes and not made any changes in Quarter 2 of FY2020-21 compared to Quarter-1. You can invest a maximum of Rs 4.5 Lakhs in a single account and Rs 9 Lakhs for the joint account. Premature withdrawal can be done after one year but before 3 years at the discount of 2% of the deposit rate and after 3 years at the discount of 1% of the deposit. Room Rent Sub-Limits/ Capping/ Proportionate Charges in Health Insurance Policy, Rebalancing Of Portfolio – Shifting From Equity To Debt, Download Sample Financial Plan – Consolidation Of Investments. Here are the features of the Post office savings account. Types of Recurring Deposit Interest Rates. He has been analyzing financial markets in the last 20 years.He can be reached at suresh@myinvestmentideas.com. Post Office Fixed Deposit with a tenure of 5 years has an interest rate … However interest rate can fluctuate. He is NISM Certified - Investment Adviser. Discount means deduction from the deposit. Post Office Monthly Income Plan interest can be drawn through auto credit into savings account standing in the same post office, through PDCs or ECS. Cheque book facility available if you can maintain Rs 500 minimum balance. Check POST OFFICE RD rate of interest and calculate RD final amount via POST OFFICE RD Calculator on The Economic Times. Additionally, the interest rates offered are much better. If minimum Rs 25​0/- is not deposited in a financial year the account will become discontinued and can be revived with a penalty of Rs 50/- per year with a minimum amount required for deposit for that year. The interest rates will be applicable for the period … Ministry of Finance notified the applicable latest Post Office Interest Rates July-Sept 2020. Somaiya Institute of Management Studies. A lot of information is filled in this blog.Thank you for sharing. 1) Post Office Savings Account Interest Rate is 4%, Many of us not even aware that the post office offers a savings account like any other bank account. A guardian can open only one account in the name of one girl child and maximum two accounts in the name of two different Girl children. Post office offers regular monthly income through this Post Office MIS scheme. 10 Mutual Fund Investment Plans for Steady Income, 40+ Profitable Agriculture Business Ideas in India, 200 Good Small Scale Business Ideas with Low Investment, 20+ Future Business in India for 2025 | Future Business Ideas for 2030 and beyond, Top 10 Most Profitable Business in India with Low Investment. Partial withdrawal, maximum up to 50% of the balance standing at the end of the preceding financial year can be taken after Account holder’s attaining age of 18 years. Senior Citizens Savings Scheme Account​ (SCSS). Early Retirement in India -How to Retire Early like Suresh ? Post office offer FDs too. The interest rate is compounded annually and payable on maturity. Investments upto 1.5 Lakhs are eligible for tax rebate under Section 80C. If you already have any post office schemes, you can open a savings account and any interest of maturity proceeds of the small saving schemes would be credited to your savings account. However, in the last quarter, the Government reduced the interest rates … This interest would be compounded every quarter. Your email address will not be published. Here is the latest post office interest rate table applicable in July to Sep 2020 period. Also Read: How to open TNPFC FD Scheme online? If you’re someone who is planning to invest in these schemes, you’ve come to the right place. What is the latest Post Office Interest Rates April-June 2020? Ministry of Finance notified the applicable latest Post Office Interest Rates Oct – Dec 2020. Post office fixed deposit interest rates for 1 year, 2 years and 3 years is 5.5%. Required fields are marked *. would get updated based on announcements from GOI / MoF every quarter and not fixed. I am Ajay Pruthi, an alumnus of NIT Jalandhar and K.J. Hi, 1, 2, 3, and 5 years; each has its own preset interest rate. Let’s take a look at the advantages of these Schemes. 5 Year account will fetch you up to 7.8% returns. The interest is compounded annually and payable on maturity. resident Indians. Q3 FY 2020-21. Can you post an article ranking the best health insurance plans for family covering all along with cover amounts and their premiums ? Post Office RD Interests Rates The rate of interest on a National Savings Recurring Deposit Account is 5.8% with effect from 1st April 2020. Latest NSC interest rate in 2020 is 6.8%. You can invest in the post office monthly income scheme for an assured regular income. Besides, KVPs can be encashed only after a period 2 and ½ years from the date of issue. Additionally, there’re a couple of schemes like the PPF, and Sukanya Samriddhi that are free from tax even at the time of maturity. There is no maximum limit on the investment. You can invest a minimum of Rs 250 and maximum of Rs 1.5 Lakhs in a financial year. Post office RD is basically a monthly investment for a fixed period of … Premature withdrawal is permissible every year from a 7th financial year from the year of opening account. NSC interest rate for senior citizens would be same as regular investor. Post office NSC interest rate is 6.8% NSC is offered for 5 years tenure. One can open account up to child age of 10 years from the date of birth. 1 Year Deposit account will fetch you returns up to 7%. Investment is eligible for tax rebate under Section 80C. How to download Home Loan Interest Certificate for Tax Proofs submission? … You can open Post office FD with a minimum of Rs 1,000 and in multiples of Rs 100. For KVPs, the money will double in 9 years and 4 months, i.e. What are the changes in Post office interest rates for July to Sep 2020? Post Office Schemes 2020 The Post Office … There is a rebate on advance deposit of at least 6 installments. First of all, it must be noted that there’s no fixed rate of interest of FD in the post office. This RD account can be transferred from one post office to another. There is no tax on maturity but the interest earned is taxable. There is no maximum limit on Post Office RD. This interest would be compounded every quarter. Since PPF is safe and tax free returns compare to debt funds and FD/RD. I am a Certified Financial Planner and currently working as a Paraplanner with Mr. Melvin Joseph, founder of Finvin Financial Planners. After How Many Years, FD Will Get Doubled In the Post Office? SIP mutual funds on other hand are high risk, but can give high returns. Post office schemes are considered as one of the safest investments as these are governed and guaranteed by Govt of India. A legal of natural Guardian can open the account in the name of the Girl Child. Besides, the tenure for term deposits ranges from 1 to 5 years. You can invest a minimum of Rs 1,000 and in multiples of Rs 100 thereof. The Senior Citizens Savings Scheme (SCSS) will continue to earn 7.40 per cent and post office time deposits will fetch 5.5-6.7 per cent. What Is The Rate Of Interest Of FD In Post Office? Post Office Recurring Deposit. The Post Office RD Interest Rate for FY 2020-21 (July to September) is 5.8% (Check latest Post Office RD Interest Rate) The minimum investment amount is Rs 100/month and there is no … National Savings Certificates (VIII Issue) ​Account​ (NSCs). TDS is applicable for interest more that 50,000. Post Office Fixed Deposit interest rates are decided by the Government of India (every quarter) under Small Saving Schemes. Again, you can invest in the senior citizen savings scheme for an assured regular income to fulfill your retirement needs. Post office Fixed deposits are available in four tenures, viz. Post office FD rate for 5 years tenure is 6.7%. In case of MIS accounts standing at CBS Post offices, monthly interest can be credited into savings account standing at any CBS Post offices. Small Saving Scheme / Post office interest Rate Table – April, May and Jun 2020. Just to quickly recap, 3rd and 4th quarters of FY 2019-20, there was no change. KVP certificate can be en-cashed after 2 & 1/2 years from the date of issue. 100/- ... (Interest rates of National (Small) Savings Schemes before 01.10.2020) Name of Scheme: SB. In such cases, the account can be closed at any time after expiry of one year of extension without any deduction. Tax on Recurring Deposit Interest Rates. Govt of India has announced the latest and revised post office interest rates on small saving schemes for the period July, August and September, 2020. Here are the details of the Post Office Fixed deposit schemes. In this Post Office Interest Rates Table January 2021 to March 2021, it is quite clear that the rate of interest for all post office saving schemes have been kept unchanged. Owing to the widespread availability of these schemes, they’re suitable for people living in both rural and urban areas. For example, if the prevailing interest rate is 8%. As per the schedule, Government announced the interest rate applicable to all Post Office Savings Schemes from 1st October 2020 to 30th December 2020. Normal Premature closure will be allowed after completion of 18 years /provided that girl gets married. https://www.bankbazaar.com/fixed-deposit/post-office-fixed-deposit-rate.html Simple Example of Power of Compounding For Youngsters, Creating Equity Portfolio for Your Investments, Creating Debt Portfolio For Your Investments, Those 1%-2% Extra Returns In NCD (Non-Convertible Debentures). 2) Post Office FD interest rates – 5.5% to 6.7%. It’s very simple to opt for these schemes. Now let review the new interest rates on post office schemes in detail. When it comes to selecting the best post office scheme, it all depends on your requirements and ultimate goal. Stove Kraft IPO Review – Should you Apply or Avoid? I have SIP and other stuff already in place. There are no tax benefits under this scheme. Public Provident Fund (PPF) is one of the best savings schemes who want to accumulate wealth in the long term. There is no maximum limit on NSC investment. The Post Office offers a number of different savings schemes to investors. Let’s take a look at the various schemes available under the post office in 2020. PPT is low risk option. There’s a very simple method for calculating the total amount of time after which your money will double. Some schemes offer tax benefits at the time of investment whereas some on interest rates. 2 Years and 3 Years deposit account will also fetch you up to 7% returns. Here is the post office interest rates table for the year 2020. Also, Interest and maturity is tax free. Your email address will not be published. The best thing about the post office schemes is that it has different schemes with different tenures. You can download the Post Office FD & RD Calculator for calculating the total returns. Enter your email address to subscribe to this blog and receive notifications of new posts by email. This is really a shocking to all those who are completely relying on Post Office Saving Schemes. Retirement Asset Allocation – By Age or Goal or Risk Tolerance? The interest paid on a fixed deposit by the post office … Latest Post Office interest Rates Table – January to March 2021. Best Recurring Deposit Interest Rates 2020 Interest rates on recurring deposit keep on changing from time to time. What is the interest rate of Post Office RD? However, from 2016-17, the rate of interest will be fixed on a quarterly basis. The rate of interest offered on the RD scheme in post office in 2019 is 7.2% p.a. 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