Post Office FD Calculator

Yes, a minor up to the age of over 10 years can open an FD account

A post office FD calculator calculates the maturity value and interest amount for various fixed deposit amounts and tenures.

As the returns from post office FD is guaranteed, you can plan your investments based on this by using the post office FD calculator.

Similarly, an FD calculator can be used to estimate the interest and the amount that it will accrue at the time of maturity. 

With an FD calculator, you can compare the maturity amount which you will be receiving by entering the interest rates offered by different lenders.

No, there is no cap on the maximum investment amount. 

Yes, for opening a 5-year fixed deposit account it is possible to avail the benefit of Section 80C of Income-Tax Act (ITA), 1961.

No, the returns made from post office fixed deposit (POFD) returns are taxable as per the provisions given under the Indian-Tax Act (ITA), 1961.

Yes, you can opt for premature withdrawal for your post office FD after completing a tenure of six months, though. In addition, in case you have opted for time deposit, the interest will be paid taking into account completed years.

Yes, you can take out a loan on the Post Office FD. You can get a loan amount ranging  from 90-95% of the FD amount.

No, post office interest rates are paid annually but it is compounded quarterly.

By using the Rule of 72, you can calculate the number of years it will need to double post office FD. For example, in case he interest rate for your FD amount is 6.9%, it will take (72/6.9) 10.43 years to double your deposit amount.

A post office FD is a government-backed investment scheme, therefore, it provides guaranteed returns. This is what makes the investment tool relatively safe avenue. 

A POFD is a post office savings scheme that qualifies for tax-saving up to Rs 1.5 lakh under Section 80C of the Income-Tax Act (ITA), 1961. However, the five years deposit qualifies for tax-saving alone. In the case of Bank FD, only the Tax Saving Bank FD qualifies for tax saving under Section 80C of the ITA, 1961.

Post Office FDs (POFDs) have a fixed tenure of 1, 2, 3 and 5 years. The interest rate on POFD ranges between 6.90% and 7.50% per annum. The interest is directly paid at the time of maturity. Similarly, bank FDs have a flexible tenure from seven days to 10 years, and the interest rates range between 3% and 7.50%. Bank FDs also provide the option of interest payout to the depositors. Investors have the option to choose between a regular payout of interest or receive interest directly at maturity.

For investors, in case tax saving is the primary goal, then any of the FDs is ideal for investment. While the interest in POFD is higher, they cannot be a source of regular income. In case an investor wishes to receive a regular income, then they can go in for bank FDs.

Post Office Time Deposits, also known as National Savings Time Deposit Account, is one of the investment schemes offered by the India Post. The scheme is open to all individuals and is quite popular among rural and remote areas of the country. Deposits under post office time deposit schemes could have tenure of 1, 2, 3 or 5 years, and only one deposit can be made in one account

An account in post office can be opened with minimum of Rs 1,000 and in multiple of Rs. 100, while there is no maximum limit for investment.

Yes, a 10% TDS is deducted on the interest earned of over Rs 40,000 in case an investor has submitted their PAN details. On the other hand, if PAN details are unavailable, then a 20% TDS is deducted.

In case you withdraw the FD after six months and before one year,  then you will receive the savings account interest rate on deposits. If you withdraw after one year, then interest shall be calculated at 2% less than a term deposit (TD) interest rate for completed years. The savings account interest rate will be applicable for the part period of less than one year.

Yes, it is possible for you to withdraw money from your account from any post office in India. A passbook, debit card, and cheque book will be provided to you against your savings PO account. In addition, by using the internet banking and mobile banking you can initiate multiple transfer and withdrawal or deposit requests.

Fixed deposits (FDs) are investment tools that guarantee a return in the form of interest. Post office FDs and tax-saving bank FDs qualify for tax-saving under Section 80C of the Income-Tax Act (ITA), 1961. The interest rate for FDs range anywhere between 6.90% and 7.50% per annum. The tenure for FDs is quite flexible and ranges from seven days to 10 years. The interest is paid out regularly or at maturity depending on an investor’s choice.  National Savings Certificate (NSC) is a government-backed scheme that promotes savings and investment. The interest rate for NSC is 6.8%, and the tenure is fixed at five years. Investors cannot withdraw the money before maturity. Investment in NSC qualifies for tax saving under Section 80C of the Income Tax Act. The interest is paid directly at maturity. Also, the interest accrued is reinvested every year for four years, and it qualifies for tax saving as well.  Investors get higher interest in NSC than in FD. However, if the investor wants regular income, then FD is a better option. However, if the investor wants to invest for higher returns, then NSC is a better option.