Post office saving schemes have been a preferred investment option since ages. One of the most popular saving schemes offered by Indian post offices is the Post Office Fixed Deposit. Generations have safely locked away their hard-earned money in Post Office Time Deposits or Fixed Deposits as the returns on these deposits are backed by the sovereign guarantee of the Government of India. Therefore, your money is always safe since the Government has liquidity available at all times.
Get assured returns up to 8.05%* by investing in Bajaj Finance Fixed Deposit and benefits like multi-deposit, loan against FD, auto-renewal and more. Invest Online.
A post office is available in the remotest corner of the country and even a person with no access to banking facility can go ahead and open a Post Office Fixed Deposit at the nearest postal centre. To extend the serviceability, the central government has now also allowed all public and private sector banks provide the facility of opening Post Office Fixed Deposit.
Let us look at salient features and various aspects of this investment option.
Post Office Fixed Deposit interest rates are decided by the Government of India (every quarter) under the Small Saving Schemes. These rates are in turn determined as per the performance of government securities/bills. Post Office Fixed Deposit with a tenor of 5 years has an interest rate mark-up of 25 bps over the yield of comparable government securities.
Post Office Fixed Deposit interest rates for different tenors as on January 1, 2020, are as indicated in the table below:
While you can think of redirecting the interest earned from Post Office FD into various other post office schemes, you should also consider alternative options such as high-yielding company FDs offering a similar guarantee and zero to low risk.
Even though post office FD may offer a higher interest rate as compared to bank FD, it cannot match the interest rate offered by Company FDs. You can ensure maximum returns with company FDs which are guaranteed by well-financed and liquid companies like Bajaj Finance. Let us see how you can benefit even further with a Bajaj Finance FD.
You can earn ROI up to 47% with Bajaj Finance FD by investing Rs. 1,00,000 as shown in the table below:
|Customer type||Interest Rate||Interest amount||Growth in savings|
|New customer||7.80%||Rs. 45,577||45.57%|
|Existing customer||7.90%||Rs. 46,254||46.25%|
|Senior citizen||8.05%||Rs. 47,273||47.27%|
You can also calculate your returns on Bajaj Finance FD using online fixed deposit calculator.
The table below briefly summarize the differences between Post Office FD and Bajaj Finance FD:
|FEATURE||POST OFFICE FD||BAJAJ FINANCE FD|
|Quarterly Interest Rate Revision||Yes||No|
|Flexible Premature Withdrawal||No||Yes|
|Online Account Management||No||Yes|
|Auto-Renewal Facility||Only at CBS-enabled branches||Yes|
With trillions of assets under management and a total deposit book size of 16000+ crores, you can trust Bajaj Finance FD to give you maximum returns with the lowest risk.
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Earn UP TO 8.05%* on Fixed Deposit