Post office saving schemes are one of the most reliable options to invest money for the future. Post offices across India offer nine saving schemes, out of which two are Recurring Deposits (RDs) and Time Deposits (TDs). Both the saving options offer attractive interest rates to the customers. However, there is a small difference between the two. While under TDs, depositors need to deposit the sum in one go, in case of RDs, subscribers can opt for monthly deposition. Also, the income tax benefits are applicable for TD subscribers, which are not offered to the RD investors.
Post office fixed deposits have been mentioned as Post office time deposit on the India post website. To open a TD account, a subscriber needs to deposit a minimum of Rs 200 at the time of opening. Nonetheless, there is no maximum cap on the amount that can be kept in a TD account. Also, a single account can be converted into a joint account and vice-versa and is transferable. The investment under five-year TD qualifies for the benefit of Section 80C of the Income Tax Act, 1961.
Depositors need to deposit a minimum of Rs 10 month or any amount in multiples of Rs 5 to open a post office recurring deposit account. There is no maximum limit on the amount. The account can be opened by cash or cheque and is transferable. Also, customers can have any number of RD accounts opened in a post office.

Post office saving schemes are one of the most reliable options to invest money for the future. Post offices across India offer nine saving schemes, out of which two are Recurring Deposits (RDs) and Time Deposits (TDs). Both the saving options offer attractive interest rates to the customers. However, there is a small difference between the two. While under TDs, depositors need to deposit the sum in one go, in case of RDs, subscribers can opt for monthly deposition. Also, the income tax benefits are applicable for TD subscribers, which are not offered to the RD investors.
Post office fixed deposits have been mentioned as Post office time deposit on the India post website. To open a TD account, a subscriber needs to deposit a minimum of Rs 200 at the time of opening. Nonetheless, there is no maximum cap on the amount that can be kept in a TD account. Also, a single account can be converted into a joint account and vice-versa and is transferable. The investment under five-year TD qualifies for the benefit of Section 80C of the Income Tax Act, 1961.
Depositors need to deposit a minimum of Rs 10 month or any amount in multiples of Rs 5 to open a post office recurring deposit account. There is no maximum limit on the amount. The account can be opened by cash or cheque and is transferable. Also, customers can have any number of RD accounts opened in a post office.