Name of the Scheme |
Investment Limits & Denominations |
Salient Features |
KISAN VIKAS PATRA
Money doubles in 8 years- 7 months. |
No limit on investments available in denominations or Rs.100-, Rs.500-, Rs.1,000-, Rs.5,000- Rs.10,000- and Rs.50,000- |
Facility for premature encashment with interest after 2 ½ Years.
Nomination facility available. |
NATIONAL SAVINGS CERTIFICATE VIII ISSUE
Interest compounded half yearly payable on maturity. Rs.100 grows to Rs.160.10 in 6 years. |
Minimum Rs.100-. No Maximum limit. Denominations Rs.100, Rs.500, Rs.1,000, Rs.5,000 and Rs.10,000-. |
Deposit qualify for deduction from total income U/s 80c of I.T |
POST OFFICE MONTHLY INCOME SCHEME
8% per annum payable monthly Rs.667- will be paid every month on a deposit of Rs.1,00,000- Bonus of 5% also payable on maturity after 6 years. |
Minimum Rs.1,000- and in multiples of Rs.1,000-, Rs.3,00,000- for Single A/c Rs.6,00,000- for joint A/c |
Can be prematurely encashed after one year at 3.5% discount. No discount if the premature encashment is made after 3 years. |
PUBLIC PROVIDENT FUND ACCOUNT
8% Interest (Compound) Period is 15 years.
|
Minimum Rs.500-. Maximum of Rs.70,000- in a financial year. |
Deposits qualify for IT rebate under Sec 80C interest earned is completely exempted U/s 10(11) of I.T. Loan facility available after 3rd financial year. Partial withdrawal is permissible every year from 7th financial year. |
SENIOR CITIZEN SAVINGS SCHEME 2004
9% P.A. Payable quarterly period is 5 years. |
Minimum Rs.1,000- and in multiples thereof.
Any number of accounts may be opened subject to maximum of Rs.15 lakhs. |
Account can be opened within one month from the date of Retirement benefits. Minimum age limit is 55 years (VRS) to 60 years. For Senior Citizens minimum age is allowed after 1 year with conditions. The A/c can be extended after maturity for a period of 3 years. |
POST OFFICE TIME DEPOSIT ACCOUNT
1 – Year Account 6.25%
2 – Year Account 6.50%
3 – Year Account 7.25%
5 – Year Account 7.50%
Interest compounded quarterly and paid annually. |
Minimum Rs.200- No maximum limit. |
2, 3 and 5 year accounts can be encashed after one year at a discount. Can be closed after 6 months without interest. No tax deduction at source. |
5 YEAR POST OFFICE RECURRING DEPOSIT ACCOUNT
Interest compounded quarterly payable on maturity, Rs.10- account fetches Rs.728-90 after 5 years. |
Minimum Rs.10- per month or any amount in multiples of Rs.5- thereof. No maximum limit. |
Benefit of protected savings schemes admissible in case of death of depositor before the maturity period. The nominee will be paid full maturity value up to Rs.50 account, subject to certain conditions. 6 months and 12 months advance deposits earn rebate. 50% of the balance can be availed as loan after 1 year. |
POST OFFICE SAVINGS ACCOUNT
Type of Accounts Int. p.a.
Individual A/c’s 3.5%
Single / Joint A/c’s 3.5% |
Minimum Rs.50-. Maximum Rs.1,00,000- for single account Rs.2,00,000- for joint account. No maximum limit on other account. |
Cheque facility available for accounts maintaining a minimum balance of Rs.500-. Interest is completely tax free U/s 10(15) (1) of I.T. Act. |