Invest Inn

Post Office Savings Schemes in India

Investment
Scheme Interest Rates Tenure Denominations and Salient Features Tax rebate
limits
No
Post Office 3.5% p.a. On Min: Rs. 50 Max: Rs. 1
specific Interest is tax-free u/s
Savings individual and lakh for individual and 2 Cheque facility available
or fix 80L
Account joint account lakhs for joint account
tenure
5 years.
5-Year One withdrawal up to 50% of the
Can be
Post Office 7.5% Min: Rs. 10 per month or balance is allowed after one year.
renewed
Recurring compounded multiples of Rs. 5 Max: Full maturity value allowed on R.D. No tax rebate
for
Deposit quarterly No limit 6 & 12 months advance deposits
another
Account earn rebate.
5 years
6.25% 1 year Long-term accounts could be closed
Post Office 6.50% 2 years Min: Rs. 200 and its after 1 year for discounted interest. Investment qualifies for
Time 7.25% 3 years multiple thereof Max: Accounts could be closed after 6 deduction u/s 80C.
Deposit months but before a year for no Interest is tax-free u/s
No limit
Account 7.50% 5 years interest. Interest is calculated 80L
quarterly but payable yearly.
Account if closed after 1 year but
Min: Rs. 1500 per month
before 3 years will suffer a
Post Office or multiples of it.Max:
deduction of 2% of the deposit.
Monthly Rs. 4.5 lakhs for Interest is tax-free u/s
8% p.a. 6 years Account if closed after 3 years will
Income individual account and 80L
suffer a deduction of 1% of the
Account Rs. 9 lakhs for joint
deposit. On maturity, bonus of 5%
account
on principal amount is admissible
15-year Min: Rs. 500 in 1 year Withdrawal can be made every year
Investment qualifies for
Public 8% p.a. Max: Rs. 70000 in 1 year after the 7th financial year. From the
15 years deduction u/s 80C.
Provident compounded Deposits can be made in 3rd financial year, loan can be
tenure Interest is tax-free u/s
Fund yearly lump-sum or 12 availed against PPF. No attachment
80L
Account installments under court decree order.
No limits. Investment
8.4%
denominations available
compounded A single holder certificate can be
Kisan are of Rs. 100, Rs. 500,
yearly. Money purchased by an adult. A certificate
Vikas --- Rs. 1000, Rs. 5000, Rs. No tax benefits
doubles in 8 can also be purchased jointly by two
Patra 10,000, in all Post
years and 7 adults.
Offices and Rs. 50,000
months
in all Head Post Offices.
Min: Rs. 100. Also
8% p.a.
National available in Investment as well as the
compounded
Savings denominations of Rs. A single holder certificate can be interest deemed to be re-
half-yearly but 6 years
Certificate 100/-, 500/-, 1000/-, purchased by an adult. invested qualifies for
payable after
(VIII issue) 5000 & Rs. 10,000/-. deduction u/s 80C.
maturity
Max: no limit
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Age should be above 60 years or 55
years above if retired under
Senior superannuation. Account if closed
Only 1 deposit allowed
Citizens after 1 year will suffer a deduction Investment qualifies for
9% p.a. 5 years in multiple of Rs. 1000.
Savings of 1.5% interest and after 2 years deduction u/s 80C.
Max is Rs. 15 lakhs
Scheme will suffer a deduction of 1%
interest. TDS is made on interest if it
exceeds Rs. 10000 p.a.

The main financial services offered by the Department of Posts are the Post Office Savings Bank.
It is the largest and oldest banking service institution in the country. The Department of Posts
operates the Post Office Savings Scheme function on behalf of the Ministry of Finance,
Government of India. Under this scheme, more than 20.50 crores savings account are operated.
These accounts are operated through more than 1,54,000 post offices across the country.

The Post offices provide a number of savings schemes like the Savings Account Schemes,
Recurring Deposit Schemes, Time Deposit Schemes, Public Provident Fund Schemes, Monthly
Income Schemes, National Savings Certificates, Kisan Vikas Patras, and Senior Citizens Savings
Scheme. A brief of the various schemes is as above:

Visit Us/ Call For more Details at

Suvarna
Pune
94 23 53 2005
money_insurance@yahoo.com
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http://investinn.blogspot.com

Invest Inn Pune Blog: http://investinn.blogspot.com

Email: money_insurance@yahoo.com Web: http://investinn.tripod.com