Tuesday, October 16, 2012
by
Indian Real Estate News
Invest Mutual Funds Online
Call 0 94 8300 8300 (India)
POTDs are similar to bank fixed deposits.
Although available for varying time duration like one year, two year, three year and five year, only 5-Yr post-office time deposit (POTD) qualifies for tax saving under section 80C.
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The current rate of interest on the 5 year POTD is 7.50% p.a., compounded quarterly. The minimum investment amount is Rs. 200, there is no maximum investment amount. Interest on these deposits is calculated quarterly and paid out annually.
| |
| | Return (p.a.) | | Effective 7.71% as interest is compounded quarterly | |
| |
| Risk | | NIL | |
| |
| Lock In | | 5 years | |
| |
| Income from Investment | | Fully taxable | |
| |
| Maturity Proceeds | | Maturity proceeds includes interest which is already taxed every year | |
| |
| NRI/PIO eligible | | No | |
| |
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