How to save tax by investing in Post Office Time Deposit (POTD)?

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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