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    How To Open A FD Account in Indian Post Office

    Opening a post office fixed deposit account is a simple process and can be done at any of the post offices or head post offices in the country. Those who wish to open an account can do so by visiting the nearest branch.

    A post office fixed deposit account is very similar to other fixed deposit accounts. The advantage here is that the scheme is a government-based one and hence there will be guaranteed returns on investment with an almost nil scope for any kind of risks.

    Steps to Open A Post Office Fixed Deposit Account

    • Select the nearest post office where you want to open the post office fixed deposit account
    • Visit the branch and fill in the fixed deposit opening form
    • Provide relevant details such as ID proof, address proof. For example, PAN, passport, and Aadhar can be provided.
    • It is necessary to provide all original documents while opening the account at the branch
    • Witness signature is required
    • A nominee should be chosen
    • Once all the above formalities are completed and the witness signature has been obtained the post office fixed deposit will be opened
    Eligibility All residents of India holding a post office savings account
    Entry age No maximum age, minors 10 years or more can hold individual accounts
    Investment amount Min: Rs.200 Max: No ceiling on maximum deposit amount
    Tenure (in year) 1, 2, 3, or 5
    Categories of account holders Individual Joint family Minors

    Important Points To Note While Applying For As Post Office Fixed Deposit Account

    • The post fixed deposit account can be opened through a cheque or by cash
    • The interest rates are calculated on a quarterly basis and will be paid on an annual basis
    • The post office fixed deposit account can be ported from one post office to another without any hassle
    • The interest earned on a post office fixed deposit account will be taxable
    • There is no limit on the number of accounts or deposits that can be opened at the post office
    • Joint accounts can be opened
    • The tenure of the fixed deposit can be extended once it matures
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