Post Office Time Deposit Account (TD), This type of accounts arrived in market with Government of India, notification, The National Savings Time Deposit Rules, 1981, and formally established the Time Deposit Account scheme. 
Salient features: 

Duration: 15 year Public Provident Fund Account (PPF )
Interest Rate: 7.1 % per annum (compounded yearly).
Deposit: Minimum INR. 500/- Maximum INR. 1,50,000/- in a financial year.
Frequency of deposit: Deposits can be made in lump-sum or in ​instalments.

5-Year Post Office Recurring Deposit Account (RD)
Interest rates: 6.7​ % per annum (quarterly compounded)
Minimum amount: 100/- per month
Maximum Amount: any amount in multiple of 10/-. No maximum limit.
Account Type: Individual, Joint Account, Guardian on behalf of Minor, Minor above 10 years