Further, there is no limit on the maximum amount of deposit. The minimum amount for deposit is Rs 1,000.Further, the Government of India reviews post office FD rates every quarter.
Post office FD rates are compounded quarterly and payable annually.You can open any number of Post Office FD accounts in your own name or jointly with another account holder.Hence, you must consider other Post Office investment options as well before investing and ensure your investment goal is being fulfilled. We can conclude that no doubt the investment scheme is risk-free but it does not beat inflation. On the day of investment, you will know how much maturity and interest amount you will receive at the end of the tenure. Moreover, the interest on Post Office fixed deposit is predetermined and guaranteed. The intent of introducing this scheme is to instil a habit of savings as well as risk-free investment for investors.
The Post Office fixed deposit is regulated by the Post Office of India. However, it is popularly known as Post Office FD. The scheme was introduced as the National Savings Time Deposit Scheme, 2019. Post Office FD or National Savings Term Deposit was introduced by the Central Government of India through Notification- G.S.R.
