Logo Tamilnadu Postal Circle

 

TIME DEPOSITS

   Interest Rates
     Interest payable annually but calculated on quarterly basis (with effect from  01.12.2011)

Duration of Deposit

Rates of interest

1 year

7.70 %

2 years

7.80 %

3 years

8.00 %

5 years

8.30 %


    
Investment Limits & Denominations

     Minimum Rs. 200/- and it's multiples.
     No maximum limit.
 

     Features

    Account may be opened by an individual, Trust, Regimental Fund and Welfare Fund.
    2, 3 and 5 year accounts can be closed after one year at a discount of 1%
       of the applicable interest rate
    Account can be closed after 6 months but before 1 year with interest at the rate of 4%.
 

Tax Rebate

   The amount of interest earned is tax free under Section 80-L of Income Tax Act.

   The investment under this scheme qualify for the benefit of Section 80C
        of the Income Tax Act, 1961 from 1.4.2007.