I. Duration

Five years

II. Rate of Interest

7.5% quaterly compounded

III.Where to Invest ?

In any Head post office/Sub post office

IV.Who can invest ?

A. A single adult
B. Two adults jointly, the amount due on the account being payable.

(i). to both jointly or survivor
(ii). to either of them or survivor

C. A guardian on behalf of a minor or a person of unsound mind.

D.A minor who has attained the age of ten years in his own name.

V. How much to invest ?

Minimum Rs. 10/- and there after multiples of Rs. 5/- without limit.

VI.Deposits and Withdrawls

A. Deposits

(i).The deposit made at the time of opening of the account shall be the denomination of the account.
(ii). Subsequent monthly deposit shall be made before the end of the calendar month and shall be equal to the first deposit.

B. Withdrawals

(i). Premature withdrawls after 3 years from the date of opening of the account.
(ii).50% of the deposits made in the account may be allowed as loan after the account has been in operation for at least one year.

VII.Rebate on advance deposits

(i). Deposits

Six or more but not exceeding eleven deposits made in a calender month.  

Rebate
Rs. 10/- for an account of Rs. 100/- denomination

(i).Deposits
Twelve or more deposits made in a calender month.

Rebate
Rs. 40/- for every twelve deposits  of Rs. 100/- denomination

VIII.Nomination facility

Available

IX.Accounts continued  beyond maturity period

Continue the account for a further period of five years and make monthly deposits during such further period.

X.  Retention of amount of repayment beyond maturity period.

The Depositor may at his option. continue the account and retain in it the amount of repayment due for a further period upto maximum of five years without making any fresh deposits.

.

(i). Rebate on interest income as per section 80L of I.T. Act.
(ii).No Tax deduction at source.

I. Duration & Rate of interest

One year 6.25%
Two year 6.50%
Three year 7.25%
Five year 7.50%

II. Where to Invest ?

In any Head post office/Sub post office

III. Who can invest ?

(i). An individual(Above 18 years)
(ii). A minor who has attained the age of 10 years.
(iii). A guardian on behalf of a minor / a person of unsound mind.
(iv). Two individuals
(v). An authority controlling a Provident Fund Super annuation fund or Gratuity fund account and Sanchayika account.
(vi). Treasurer of Charitable Endowments for India.
(vii). A Trust, Regimental fund and Welfare fund.
(viii). A Co-operative Society, Co-operative bank or a scheduled bank on behalf of its members, depositors and employees.

IV. How much to invest ?

Minimum - Rs. 50/-
Maximum - No limit

V. Withdrawals

(i). On Maturity
(ii). Premature

Principal - Only after the expiry of the period for which it is made.
Interest - At the end of each year during the period of deposit.

(i). After 6 months upto one year without interest
(ii). After one year, interest shall be paid two percent less.

VI. Nomination facility

Available

IX. Tax benefits

(i). Rebate on interest income as per section 80L of Income Tax Act, 1961
(ii). No deduction of income tax at source.

1.   Duration

6 years account

2.   Rate of Interest & Bonus

(i).   8% per annum payable monthly
(ii).   equal to 10% of the amount deposited amount at the time of maturity.

3.   Where to invest ?

any head post office / sub-post office by cash, demand draft, local cheques.

4.   Who can invest ?

(i).   An individual (Above 18 years)
(ii).   Two / three individuals in joint names.
(iii).   A minor who has attained the age of 10 years.
(iv).   A guardian on behalf of a minor/ a person of unsound mind.

5.   How much to invest ?

Minimum -  Rs. 1000/-
Maximum -  (i).  Rs. 3.00 lacs for single  account
                    (ii).  Rs. 6.00 lacs for joint account.                   

6.  Withdrawls

(i).   On Maturity with bonus
(ii).   Premature
        (a).   After one year with deduction of 5% of deposited amount.
         (b).   After three years without deduction.

7.   Nomination

Available

8.   Income Tax benefits

Tax rebate on interest and bonus income U/S 80L of I.T. Act,1961.

9.    Other facility

Monthly interest can be credited to the savings bank account in the same post office.

1.   Duration

6 years

2.   Rate of Interest

8 % per annum half yearly compounded.

3.   Where to invest ?

any head post office / sub-post office in cash, demand draft, local cheques.

4.   Who can invest ?

(i).   An individual(Above 18 years)
(ii).   Two individuals
(iii).   A guardian on behalf of a minor.
(iv).   A Trust

5.   Denomination of Certificates

Rs. 100/-, Rs. 500/-, Rs. 1000/-,        Rs. 10000/-

6.   How much to invest ?

No limits

7.  Withdrawals

(i).   On maturity (After 6 years)
(ii).   Premature on the death of the holder or any of the holders.

8.   Nomination

Available

9.   Income Tax benefits

Investment eligible for rebate U/S 88 of I.T. Act.
(i).   Annual accrued Interest is also eligible for rebate U/S 88 of I.T. Act 1961
(ii).   Interest income eligible for rebate U/S 80L of I.T. Act, 1961.

1.   Duration

15 years

2.   Rate of Interest

8 % per annum.

3.   Where to invest ?

any head post office/Selection grade sub post office and approved nationalised  banks.

4.   Who can invest ?

(i).   An individual (Above 18 years)
(ii).   Hindu undivided family.
(iii).   A guardian on behalf of a minor.

5.   How much to invest ?

Minimum - Rs. 500/-
Maximum - Rs. 70,000/- in a financial year.

6.    Withdrawals

Loan :- From 3rd year to 6th year upto 25% of the amount available in the preceeding second year.

Final :-
(i). One withdrawal during any one year at any time after 6 year.
(ii). The amount of withdrawal is limited to 50% of the balance at credit at the end of 4th year immediately preceding the year in which the amount is withdrawn or at the end of the preceding year whichever is lower.

7.   Nomination facility

Available

9.  Tax benefits

 (i)   Rebate on investment U/S 88 of I.T. Act 1961
(ii).   Interest income fully expemted from income tax.
(iii). Balance held in the P.P.F. account is completely free from wealth Tax.

10. Other benefits

The balances in the account cannot be  attached by any authority normally.

1.   Duration

8 years 7 months

2.   Rate of Interest

8.25%

3.   Where to invest ?

any head post office / sub-post office in cash, demand draft, local cheques.

4.   Who can invest ?

(i).   An individual (above 18 years)

(ii).   Two / three individuals in joint names.

(iii).   A guardian on behalf of a minor.

(iv).   A Trust

5.   Denomination of Certificates

Rs. 100/-, Rs. 500/-, Rs. 1000/-,        Rs. 10000/- , Rs. 50000/-

6.   How much to invest ?

No limits

7.  Withdrawals

(i).   On maturity (8 years and 7 months)

(ii).   Premature after 2 years and 6 months.

(iii).  Any time in case of death of holder / any of the holders.

1. Duration

3 years

2. Rate of Interest

7 % per annum payable half yearly

3. Who can invest

(i). Retired Government employees of Central or State Government.
(ii). Retired judge of supreme court or a high court.

4. Retirement benefits

(i). General Provident Fund
(ii). Retirement / Superannuation gratuity.
(iii). Commuted value of Pension.
(iv). Cash equivalent of leave.
(v). Government Insurance Scheme
(vi). Arrears of retirement benefits.

5. Where to invest ?

State Bank of India & its subsidiaries and any other nationalised bank authorised to accept deposits under the scheme.

6. How much to invest ?

Minimum - Rs. 1000/-
Maximum - Multiples of Rs. 1000/- upto total retirement benefits received.

7. Opening of account

Within three months from the date of receiving the retirement benefits

8. Withdrawals

On Maturity :-

Premature :-

After the expiry of three years from the date of deposit

(i). After expiry of one year but before three years.
(ii). Interest at the rate of 4% is payable and already paid interest shall be adjusted at the time of withdrawal.
(iii). On the death of a depositor without any deduction

9. Nomination facility

Available

10. Tax benefits

(i). Interest earned on deposit exempted from Income Tax.
(ii). Amount deposited exempted from wealth tax.
(iii). No TDS on maturity / withdrawal.

1. Duration

3 years

2. Rate of Interest

7 %

3. Who can invest ?

(i). Retired employees of Public Sector company.

4. Public Sector Company means

Any corporation established by or under any Central, State or Provincial Act or Government Company.

5. Retirement benefits

(i). C.P.F.
(ii). Retirement / Superannuation gratuity.
(iii). Commuted value of pension.
(iv).  Cash equivalent of leave.
(v). Group savings linked insurance scheme payable by employer.
(vi).  Retirement cum withdrawl benefit under the Employee's Family Pension Scheme 1971.

6. Where to invest ?

State Bank of India & its subsidiaries and any other nationalised banks authorised to accept deposits under the scheme.

7. How much to invest ?

Minimum - Rs. 1000/-
Maximum - Multiples of Rs. 1000/- upto total retirement benefits received.

8. Opening of account

Within three months from the date of receiving the retirement benefits

9.       Withdrawals

On Maturity :-

Premature :-

After the expiry of three years from the date of deposit

(i). After expiry of one year but  before three years.
Interest at the rate of 4% is payable and already paid interest shall be adjusted at the time of withdrawl.
(ii). On the death of a depositor without any deduction

10. Nomination facility

Available

11. Tax benefits

(i). Interest earned on deposit exempted from Income Tax.
(ii). Amount deposited exempted from wealth tax.
(iii). No TDS on maturity / withdrawal.