Officetime how to#

One of the best features of a post office FD account is it can be transferred from one post office to the other. One can also open a post office FD in all public and private sector banks. Usually, one person can open only one fixed deposit account in the same bank, however, multiple FD accounts can be opened in post offices. 200 and thereafter, in multiples of INR 200. The customer has to invest a minimum deposit amount of Rs. Maturity value = 1,00,000 * (1+.078/4) (5*4)Īlso Read, Post Office FD Interest Rates Post Office FD Investment Rules Please note that the above formula is for interest compounded quarterlyĮxample: Suppose a person has deposited 1 lakh at 7.8% interest for 5 years term, the maturity amount would be Maturity Value = Principal * (1 + Interest Rate/4)^(n*4)Īnd the interest rate should be the annual rate.

Officetime how to#

How to Calculate Interest on Post office FD?Ĭalculating post office FD interest payout is pretty simple all you have to do is use the compound interest formula given below for all the required details. An individual can take a loan against the deposit or withdraw the deposit prematurely as per convenience.The interest rate for a five-year term deposit scheme is notified before April 1 every year.The principal amount thus grows at a predetermined rate with guaranteed returns. The scheme is best fit for investors with a low-risk appetite as it not only provides low risk but also offers high capital protection as it is backed by the government.Interest is paid out annually but calculated quarterly.The investor can earn a guaranteed return on the money deposited. The higher the investment tenure, the higher is the interest rate offered. Post Office Fixed Deposit is similar to a regular bank deposit where the money is deposited for a fixed tenure and interest rate. Like banks FD, you can always calculate the interest amount by using a post office FD calculator in a hassle-free manner. They are considered as safe as it is backed by the Government of India and is the best fit for risk-averse investors. Post Office Fixed Deposit (POFD) or also called Post Office Time Deposit (POTD) is one of the oldest and most preferred forms of investment offered by the Indian Postal Services.