Thursday, April 22, 2010

Post office Deposit

Just like bank fixed deposits, the Post office Time Deposit Account is a sort of fixed deposit with the Post office. The maturity periods vary from one to five years. Deposits in this account can be made in multiples of RS 50 with no upper limit of investment. There is no wealth tax in respect of amount deposited in post office time Deposits. The rate of interest would be as under
Period Of Deposit Rate of interest per annum
1 year                   6.25 %
2 years                  6.50%
3 years                  7.25%
5 Years                  7.50%

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