8/8/2019 Po Schemes

http://slidepdf.com/reader/full/po-schemes 1/3

SCHEME  InterestPayable, Rates,

Periodicity etc. Investment Limitsand Denominations  Salient features including Tax Rebate 

PostOfficeSavingsAccount 

3.5% per annumon individual/ joint accounts.

Minimum Rs. 50/-.Maximum Rs.1,00,000/- for anindividual account. Rs.2,00,000/- for jointaccount.

Cheque facility available. Interest Tax Free. 

5-YearPostOffice

RecurringDepositAccount

On maturity Rs.10/- account

fetches Rs.728.90/-. Can becontinued foranother 5 yearson year to yearbasis. Rate of interest7.5% (quarterlycompounded) 

Minimum Rs. 10/- permonth or any amount

in multiples of Rs. 5/-.No maximum limit. 

One withdrawal upto 50% of the balance allowed after one year. Fullmaturity value allowed on R.D. Accounts restricted to that of Rs.

50/- denomination in case of death of depositor subject to fulfillmentof certain conditions. 6 & 12 months advance deposits earn rebate.

PostOfficeTimeDepositAccount

Interest payableannually butcalculatedquarterly. PeriodRate 1 yr. A/c6.25% 2 yr. A/c6.50% 3 yr. A/c

Minimum Rs. 200/-and in multiplethereof. No maximumlimit. 

Account may be opened by individual. 2,3 & 5 year account can beclosed after 1 year at discount. Account can also be closed after sixmonths but before one year without interest. The investment underthis scheme qualify for the benefit of Section 80C of the Income TaxAct, 1961 from 1.4.2007. 

8/8/2019 Po Schemes

http://slidepdf.com/reader/full/po-schemes 2/3

7.25% 5 yr. A/c7.50% 

PostOfficeMonthlyIncomeAccount

8% per annumpayable i.e. Rs.80/- will be paidevery month ona deposit of Rs.12000/-.

In multiples of Rs.1500/- Maximum Rs.4.5 lakhs in singleaccount and Rs. 9lakhs in joint account. 

Maturity period is 6 years. Can be prematurely encashed after oneyear but before 3 years at the discount of 2% of the deposit andafter 3 years at the discount of 1% of the deposit. (Discount meansdeduction from the deposit.) A bonus of 5% on principal amount isadmissible on maturity in respect of MIS accounts opened on or after8.12.07 

15yearPublicProvidentFundAccount

8% per annum(compoundedyearly). 

Minimum Rs. 500/-Maximum Rs.70,000/- in a financialyear. Deposits can bemade in lumpsum orin 12 installments. 

Deposits qualify for deduction from income under Sec. 80C of IT Act.Interest is completely tax-free. Withdrawal is permissible every yearfrom 7th financial year. Loan facility available from 3rd Financialyear. No attachment under court decree order. 

KisanVikasPatra

Money doublesin 8 years & 7months. Facilityfor prematureencashment. Rate of interest8.4%

(compoundedyearly) 

No limit oninvestment. Availablein denominations of Rs. 100/-, Rs. 500/-,Rs. 1000/-, Rs.5000/-, Rs. 10,000/-,in all Post Offices andRs. 50,000/- in all

Head PostO

ffices. 

A single holder type certificate may be issued to an adult for himself or on behalf of a minor or to a minor, can also be purchased jointlyby two adults 

8/8/2019 Po Schemes

http://slidepdf.com/reader/full/po-schemes 3/3

NationalSavings

Certificate(VIIIissue)

8% Interestcompounded six

monthly butpayable atmaturity. Rs.100/- grows toRs 160.10 after6 years. 

Minimum Rs. 100/- Nomaximum limit

available indenominations of Rs.100/-, 500/-, 1000/-,5000/- & Rs. 10,000/-. 

A single holder type certificate can be purchased by an adult forhimself or on behalf of a minor or to a minor. Deposits quality for tax

rebate under Sec. 80C of IT Act.

The interest accruing annually but deemed to be reinvested will alsoqualify for deduction under Section 80C of IT Act. 

SeniorCitizens

SavingsScheme

9% per annum,payable from the

date of depositof 31stMarch/30thSept/31stDecember in thefirst instance & thereafter,interest shall bepayable on 31st

March, 30thJune, 30th Septand 31stDecember 

There shall be onlyone deposit in the

account in multiple of Rs.1000/- maximumnot exceeding rupeesfifteen lakh.

Maturity period is 5 years. A depositor may operate more than aaccount in individual capacity or jointly with spouse. Age should be

60 years or more, and 55 years or more but less than 60 years whohas retired on superannuation or otherwise on the date of opening of account subject to the condition that the account is opened withinone month of receipt of retirement benefits. Premature closure isallowed after one year on deduction of 1.5% interest & after 2 years1% interest. TDS is deducted at source on interest if the interestamount is more than Rs.10,000/- p.a. The investment under thisscheme qualify for the benefit of Section 80C of the Income Tax Act,1961 from 1.4.2007.