Post Office FD Schemes: Just like banks, you can invest in the post office and accumulate a substantial amount after a fixed period. Besides the stock market and banks, investing in the post office offers a decent return at a fixed interest rate.
At the Post Office, you can invest through Recurring Deposits, Fixed Deposits, and PPF Accounts. All of these schemes offer attractive interest rates. If you want to open a Fixed Deposit account with a bank, you can do so online. There’s no need to visit the bank in person to invest.
But if you want to invest in Post Office FD schemes, can you do it from the comfort of your home? Most people are unaware of this. However, it’s worth noting that the Post Office now offers all these services online. You can open a Post Office Fixed Deposit online yourself.
Post Office FD Schemes Process
If you want to invest in the Post Office Fixed Deposit Scheme, you can follow the process given below. Through this process, you can invest in the Post Office from the comfort of your home using online methods. You can invest for as many years as you wish.
- You can open a Post Office Time Deposit Account using interoperable net banking/mobile banking.
- To do this, first, you need to log in to the Post Office e-banking service using your registered user ID and password.
- You can log in through their official website: https://ebanking.indiapost.gov.in.
- Then, go to the General Service Option and click on Service Request.
- A New Request option will appear; apply to open a Time Deposit Account here.
- After this, you will need to upload some documents.
- Once all the documents are uploaded, the application process will be complete.
- Finally, verify all the documents and information and click on Open Account.
- Your Post Office Time Deposit Account will be opened within a few minutes.
Post Office FD Schemes Doccuments
Investing in a fixed deposit scheme at the post office requires certain documents. These documents are necessary to open a time deposit account at the post office online.
- Active savings account
- PAN card
- KYC documents
- Active DOP ATM card
- Bank debit card
- Your mobile number
- Passport-size photo
- Email ID
Post Office FD Schemes Interest Rate
The post office offers fixed deposit (FD) schemes for 1, 2, 3, and 5 years. The interest rates vary depending on the tenure. Currently, the interest rate is 6.9% for a 1-year FD, 7.0% for a 2-year FD, 7.1% for a 3-year FD, and 7.5% for a 5-year FD.
In Post Office FD Schemes, you can start investing with as little as ₹1000, and there is no upper limit on the maximum investment amount. Interest is calculated annually at the post office.
