Post Office Savings Schemes SCHEME Interest Investment Salient features Payable, Limits and Tax Rebate Rates

, Denominatio Periodicity ns etc. including

3.5% per Minimum PostOffice Savings Account

INR Cheque facility annum on 50/-. Maximum Interest Tax Free. individual/ INR 1,00,000/joint for an accounts. individual account. INR 2,00,000/- for joint account.


Rate of interest 7. 6 & 12 months 5 years on advance deposits earn rebate.On maturity Minimum INR One withdrawal upto 50% of the 5-YearPost Office Recurring Deposit Account INR 10/.per month balance allowed after one year. subject to fulfillment of certain for another conditions.5% (quarterly compounde d). 50/. Accounts restricted to that 728.10/.90/-. . year to year basis. No of INR. INR 5/-.D. account or any amount Full maturity value allowed on fetches INR in multiples of R.denomination in Can be maximum case of death of depositor continued limit.

Period Rate 1 A/c 6.50% yr. The investment under this scheme qualify for the benefit of Section 80C of the Income Tax Act.and in individual.50% 3 A/c 7. yr. Account can also be maximum closed after six months but limit. may be opened by 200/.Interest Minimum PostOffice Time Deposit Account INR Account payable annually but calculated quarterly. . yr.3 & 5 year account multiple can be closed after 1 year at thereof. before one year without interest.25% 5 A/c 7.25% 2 A/c 6. No discount. yr.2007.4. 1961 from 1. 2.

8% PostOffice Monthly per In multiples of Maturity period is 6 prematurely encashed after payable i.4.5 lakhs in the discount of 2% of the will be paid single account deposit and after 3 years at the every and INR 9 discount of 1% of the deposit. Maximum INR one year but before 3 years at INR 80/. on maturity in respect of MIS accounts opened on or after 8. month on a lakhs in joint (Discount means deduction from deposit of account. Can Income Account annum INR 1500/.e. the deposit.07. .12.) A bonus of 5% on INR principal amount is admissible 12000/-.

8% per Minimum INR.000/. installments. No attachment under court 12 decree order. Deposits qualify for deduction 15year Public Provident Fund Account annum 500/from income under Sec. Interest is completely ed yearly). 70. IT Act. . permissible every year from 7th Deposits can financial year. 80C of (compound Maximum INR. Loan facility be made in available from 3rd Financial lumpsum or in year. Withdrawal is financial a tax-free.

INR. 5000/-. denominations or to a minor. INR 160.KisanVikas Money Patra No limit on A single holder type certificate doubles in investment. in all Post Offices and INR. Deposits quality but payable denominations for tax rebate under Sec. Rate of interest 8. 100/.4% (compound ed yearly) 8% Interest Minimum INR. of INR. 100/-. can also be Facility for of INR.500/-. 1000/-. 500/-. may be issued to an adult for 8 years & 7 Available in himself or on behalf of a minor months. purchased jointly by two adults. INR. encashmen INR. t. IT Act. A National Savings Certificate (VIII issue) single holder type certificate compounde 100/No can be purchased by an adult for d six maximum limit himself or on behalf of a minor monthly available in or to a minor. 100/-.000/-. .& INR. after 6 years. 80C of at maturity. 1000/-.10 10. INR. grows to 5000/. premature INR. 50.000/in all Head Post Offices. 10.000/-.

deducted at source on interest if 30th June.2007. . retirement benefits. A annum. only one depositor may operate more payable deposit in the than a account in individual from the account in capacity or jointly with spouse. 1961 from 1.The interest accruing annually but deemed to be reinvested will also qualify for deduction under Section 80C of IT Act. qualify for the benefit of Section 80C of the Income Tax Act.a. deposit of INR.1000/and 55 years or more but less 31st maximum not than 60 years who has retired March/30th exceeding on superannuation or otherwise Sept/31st rupees fifteen on the date of opening of December lakh.5% interest & payable on after 2 years 1% interest. the interest amount is more than 30th Sept INR 10.000/p. date of multiple of Age should be 60 years or more. The and 31st investment under this scheme December. account subject to the condition in the first that the account is opened instance & within one month of receipt of thereafter. 9% per There shall Senior Citizens Savings Scheme be Maturity period is 5 years. TDS is 31st March. Premature interest closure is allowed after one year shall be on deduction of 1.4.

Sec 80C benefit: Investments up to INR 1 lakh in specified securities (maximum of INR 70.000 in PPF) qualify for deduction •         Compounded half-yearly •         Compounded yearly •         Compounded quarterly •         Payable quarterly .

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