Sarkari Yojana
National Savings Time Deposit (TD)
About National Savings Time Deposit (TD)
Run by the Department of Posts under the Ministry of Communications, the National Savings Time Deposit (TD) Scheme pays interest ranging from 6.9% to 7.5% per annum. Accounts open with a minimum deposit of ₹1000, topped up in multiples of ₹100, and there’s no ceiling on how much can be invested.
Scheme Overview
Central Government
Ministry Of Communication
Individual
Scheme Details
Eligibility Requirements
To qualify for National Savings Time Deposit (TD), applicants must satisfy the following conditions:
The individual must be a resident Indian citizen
The individual must be a resident Indian citizen.
A single adult may open the account
A single adult may open the account.
A guardian may open the account on behalf…
A guardian may open the account on behalf of a minor.
A guardian may open the account on behalf…
A guardian may open the account on behalf of a person of unsound mind (Authorised Account).
A minor aged 10 or above may also…
A minor aged 10 or above may also open and run the account.
Joint Account (up to three adults) (Joint A…
Joint Account (up to three adults) (Joint A or Joint B)
Joint 'A' type -- operated jointly by all depositors, or the surviving depositors.
Joint 'B' type -- operated separately by any one depositor, or any surviving depositor.
Note: An individual may open any number of accounts, solo or jointly with someone else.
Note: On turning 18, account holders must submit a fresh Account Opening Form (AOF) and updated KYC documents at their Post Office to convert their minor account into an adult one.
Note: Accounts can also be opened via e-Banking or Mobile Banking, though a Post Office Savings Account is a prerequisite for internet banking access (Please Click here or visit wwwdot]ebankingdot]indiapostdot]govdot]in)
Benefits Provided
National Savings Time Deposit (TD) provides the following benefits to eligible applicants:
Interest payable, rates, periodicity, etc. run from 6.9% to 7.5%, with a minimum opening amount of INR 1000/- in multiples of 100 and no maximum balance limit.Interest Rates Interest rates from 01.01.2024 to 31.03.2024
1-year TD Account
1-year TD Account: 6.9% interest
2-year TD Account
2-year TD Account: 7.0% interest
3-year TD Account
3-year TD Account: 7.1% interest
5-year TD Account
5-year TD Account: 7.5% interest Deposits
TD Accounts come in four categories
TD Accounts come in four categories: 1-year TD, 2-year TD, 3-year TD, and 5-year TD.
Accounts open with a minimum of ₹ 1000,…
Accounts open with a minimum of ₹ 1000, in multiples of ₹ 100.
There's no ceiling on investment
There's no ceiling on investment.
Interest compounds quarterly but is paid out annually
Interest compounds quarterly but is paid out annually.
Interest that falls due but isn't withdrawn by…
Interest that falls due but isn't withdrawn by the account holder earns no further interest.
Annual interest can be credited to the customer's…
Annual interest can be credited to the customer's Post Office Savings Account or Bank Account, given a written mandate (standing instruction/ ECS mandate).
A 5-year TD investment qualifies for the Section…
A 5-year TD investment qualifies for the Section 80C benefit under the Income Tax Act, 1961.
Documents Required
Applicants should keep the following documents ready before starting the application:
The account opening form, completely filled in and…
The account opening form, completely filled in and bearing the applicant's signature
A document proving identity, such as an Aadhaar…
A document proving identity, such as an Aadhaar card, PAN card, Voter ID, or Passport
A document proving the address, such as an…
A document proving the address, such as an Aadhaar card, utility bill, or bank statement
Photographs of passport size
Photographs of passport size
How to Apply
Offline Application
Applicants can apply for National Savings Time Deposit (TD) through the offline application process outlined below.
Head to the nearest Post Office and obtain…
Head to the nearest Post Office and obtain the Account Opening Form and KYC Form.
Complete the forms carefully, attaching the necessary documents…
Complete the forms carefully, attaching the necessary documents (PAN, Aadhaar, or other valid ID proof, etc.).
Hand in the filled-in forms along with the…
Hand in the filled-in forms along with the documents at the Post Office counter.
Pay in the minimum amount (₹500) by cheque
Pay in the minimum amount (₹500) by cheque.
Once verification is done, the account opens and…
Once verification is done, the account opens and its details are handed over to you.
Official Application & Website
Verify the latest eligibility, dates and instructions before applying.