Interest Rates 

Features:

Only one account can be opened in the name of a person. Twelve deposits can be made in a financial year.

Minimum deposits in a year is INR.500 and maximum is INR. 70,000/-.

Loan is admissible from the third year. Loan amount is limited to 25 % of    at the end of two years preceding.    

Fresh loan is not allowed when previous loan or interest thereof is outstanding.

Interest is charged at the rate of 1% if prepaid within 36 months and at 6% on the outstanding loan after 36 months.

Withdrawal is permissible from seventh financial year from the year of opening, limited to one in a financial year. 

Amount of withdrawal is limited to 50 % of balance at the end of the fourth preceding year less amount of outstanding loan or 50% of balance at the end of immediate preceding year of withdrawal less amount of outstanding loan, if any whichever is less.

  A subscriber can close the account in the 16^th financial year.  The account can also be continued with or without subscription, for further blocks of 5 years.

Deposits are qualified for Income Tax rebate under section 88 of Income Tax Act.

Deposits completely exempted from wealth tax. Interest is completely tax free under section 80 of IncomeTax Act.

• Interest exempt from wealth tax. No TDS
• Accounts in the name of minors can be opened through guardians
• Any number of accounts can be opened
• One withdrawal upto 50% of the balance allowed after one year

Default / Revival:

• If there are more than 4 defaults in monthly deposits, the account shall be treated as discontinued. Revival of the account is permitted only within a period of 2 months from the month of fifth default. The account, in which defaulted installments are deposited along with default fee, is not treated as discontinued. Penalty: Rs. 20/- per Rs. 1000/- p.m.

Premature withdrawal:

• Account can be prematurely closed after 3 years from the date of opening of account and on such premature closure of the account, interest at the rate applicable from time to time on Post Office Savings Account shall be payable. However no premature closure of account is permissible until the period for which the advance deposits made is over.

U may Invest your valuable money in any Post Office within India for Investment. Near your doorstep is the Best Place to Put the money in Postal Schemes with some Small Saving Agent/ Advisor of  this all things. Contact us for any kind of Postal Investment in ahmedabad & get regular reminder via our automatic system by sms, email & letter.

• Kisan Vikas Patra: Kisan Vikas Patra is another fixed income scheme that doubles your money in eight years and seven months. But it offers no benefits under the Income Tax Act. In terms of liquidity, the scheme is better than the PPF and NSC. You can exit the scheme any time after two and a half years from the investment date, though you will forfeit the interest earned for the invested time period.
• National Savings Cerficates: National Savings Certificate is an assured return scheme and provides for tax rebates under section 80C. It pays interest at 8 per cent for a duration of six years, which is relatively lower compared to other small saving schemes. You buy NSC for a specific value and the interest compounded and returned along with the principal amount on maturity. NSCs have low liquidity and premature withdrawals can be done only under specific circumstances, such as the death of the holder(s), forfeiture by the nominee, or under court’s order.
• Monthly Income Schemes: Post office monthly income scheme provides a monthly income at 8 per cent per annum. On completion of six years, you get a 5 per cent bonus on the principal. The scheme offers better liquidity you have an exit option after one year from the investment date.
• Post Office Time Deposits
• Senior Citizen Savings Schemes
• Postal Recurring Deposit Scheme (RD Account): The post office recurring deposit (PO-RD) account is a systematic way of saving money. The scheme is meant for those investors who want to deposit a fixed amount regularly on a monthly basis and get a tidy sum on maturity after the stipulated 5 years.
• 15 Years Public Providend Fund (PPF Account): If you haven’t already started on a long-term savings strategy, you could begin with a Public Provident Fund (PPF) subscription . A government-guaranteed fixed income security, this is very apt as a long-term savings instrument. Yearly subscriptions can be as low as Rs. 500 to as high as Rs. 70,000.
• Post Office Savings Account

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 

U may Invest your valuable money in any Post Office within India for Investment. Near your doorstep is the Best Place to Put the money in Postal Schemes with some Small Saving Agent/ Advisor of  this all things.

Read here some FAQ’s on Small Saving Schemes:

• Whether Kisan Vikas Patra can be purchased by a Non Resident Indians?  No, The Non Resident Indians are not eligible to purchase Kisan Vikas Patra as there is no such provision in the rules.
• Whether Kisan Vikas Patra can be purchased by Karta on behalf of Hindu Undivided Family? No, The Kisan Vikas Patra can not be purchased by the Karta on behalf of the Hindu Undivided Family as there is no provision in the rules.
• Whether, The teacher’s provident fund are eligible to invest in Kisan Vikas Patra? No, The teacher’s provident funds are not eligible to be invested in Kisan Vikas Patra.
• Whether, a duplicate Kisan Vikas Patra can be issued? Yes, If a certificate is lost, stolen, destroyed, mutilated or defaced, the person entitled thereto may apply for the issue of a duplicate certificate to the post office of issue.
• Whether, Annual interest of Post Office Time Deposit Account automatically credited in the savings account? Yes, In case of 2/3/5 year Time Deposit Accounts, the depositor on request to the post office can get annual interest due on his time deposit account credited in his Post Office Savings Account in the same post office.
• Whether, Post maturity interest is payable on Post Office Time Deposit Account?  Yes. where repayment of a deposit has become due but has not been made, interest shall be allowed on the amount due for a maximum period of two years from the date of maturity to the date of repayment of the deposit subject to the following conditions :-
  (i). The interest shall be simple and shall be calculated at the rate applicable from time to time, to savings accounts of the type of single or joint account.
  (ii). For the purpose of payment of interest any part of the period which is less than one month shall be ignored.
  (iii). The interest shall be paid to the depositor in a lump sum at the time of repayment of amount due. 
• Whether, Monthly Income Scheme (MIS) account can be opened by Non Resident Indians or Karta of the Hindu Undivided Family? The Monthly Income Scheme account can not be opened by the Non Resident Indians and Karta of Hindu Undivided Family as there is no provision for opening of such accounts in M.I.S. Rules.
• Whether the National Savings Certificates can be purchased by the Karta of the Hindu Undivided Family by adding the words “HUF” after his name?  No, Joint type certificate can be issued only to two adults under the rules. As such the Karta of Hindu Undivided Family can purchase certificates in his own name by adding the name of one of his co-partners without adding “HUF” after his name.
• Whether, irregular Monthly Income Scheme (MIS) accounts can be converted from single account to joint account or vice versa?  No, MIS accounts opened irregularly by exceeding the prescribed limits from single to joint or vice versa in order to compound the irregularity is not admissible.
• Whether, Public Provident Fund account can be opened by a Non Resident Indians?  Yes, there is no objection to Non Residents opening PPF account out of moneys held in the applicants non resident account in Indian Banks.
• Whether a Public Provident Fund account can transferred from Head Post Office to Bank or vice versa?  Yes, A Public Provident Fund account can be transferred from one Head Post Office to another Head Post Office and one Head Post Office to a Bank or vice versa.
• If a subscriber of a Public Provident Fund account holder dies and there is no nomination who will get the deposited amount?  If it is upto one lakh rupees, the accounts office will pay it to the legal heirs of the deceased on receipt of application in prescribed form, supported with necessary documents without production of succession certificate. If the balance is more than one lakh rupees, the production of succession certificate will be necessary..

• Minimum Investment Rs. 500/- No maximum limit.
• Rate of interest 8.40% compounded annually.
• Money doubles in 8 years and 7 months.
• Two adults, Individuals and minor through guardian can purchase.
• Companies, Trusts, Societies and any other Institution not eligible to purchase.
• Non-Resident Indian/HUF are not eligible to purchase.
• Facility of encashment from 2 ½ years.
• Maturity proceeds not drawn are eligible to Post office Savings account interest for a maximum period of two years.
• Facility of reinvestment on maturity.
• Patras can be pledged as security against a loan to Banks/Govt. Institutions.
• Patras are encashable at any Post office before maturity by way of transfer to desired Post office.
• Patras are transferable to any Post office in India.
• Patras are transferable from one person to another person before maturity.
• Duplicate can be issued for lost, stolen, destroyed, mutilated and defaced patras.
• Nomination facility available.
• Facility of purchase/payment of Kisan vikas Patras to the holder of Power of attorney.
• Rebate under section 80 C not admissible.
• Interest income taxable but no TDS.
• Deposits are exempt from Wealth tax.

Faq’s on KVP here.

For Buy Prchase Renew Online Kisan Viksa Patra here. Ask for New Latest Interest Rates and Returns on KVP.

• Interest rate of 8% per annum payable monthly.
• Maturity period is 6 years.
• Minimum investment amount is Rs.1500/- or in multiple thereof.
• Maximum amount is Rs. 4.5 lacs in single account and Rs. 9 lacs in a joint account.
• Account can be opened by an individual, two/three adults jointly and a minor through a guardian.
• A minor having attained 10 years of age can open an account in his/her own name directly.
• Non-Resident Indian / HUF cannot open the Account.
• Minor has a separate limit of investment of Rs. 3 lacs and the same is not clubbed with the limit of guardian.
• A separate account is opened for each deposit.
• Any number of accounts can be opened subject to the maximum prescribed limit.
• Facility of automatic credit of monthly interest to saving account if accounts are at the same post office.
• Facility of premature closure of account after one year @ 3.50% discount.
• No deduction of 3.5% if account is closed on completion of three years.
• Facility of reinvestment on maturity of an account.
• Interest not with-drawan does not carry any interest.
• Maturity proceeds not drawn are eligible to saving account interest rate for a maximum period of two years.
• Account is transferable from one post office to any Post office in India free of cost.
• Nomination facility available.
• Rebate under section 80 C not admissible.
• Interest income is taxable, but no TDS
• Only scheme in Post office where monthly interest is payable.
• Most suitable scheme for senior citizens and for those who need regular monthly income.
• Deposits are exempt from Wealth Tax

FAQ’s on MIS Click Here.

For Buy Purchase online Post office Mothly Income Schemes Small Savings Postal Saving Schemes by Goverment of India.

• Minimum investment Rs. 500/- No maximum limit.
• Rate of interest 8% compounded half yearly.
• Rs. 1000/- grow to Rs. 1601/- in six years.
• Two adults, Individuals, and minor through guardian can purchase.
• Companies, Trusts, Societies and any other Institutions not eligible to purchase.
• Non-resident Indian/HUF can not purchase.
• No pre-mature encashment.
• Annual interest earned is deemed to be reinvested and qualifies for tax rebate for first 5 years under section 80 C of Income Tax Act.
• Maturity proceeds not drawn are eligible to Post Office Savings account interest for a maximum period of two years.
• Facility of reinvestment on maturity.
• Certificate can be pledged as security against a loan to banks/ Govt. Institutions.
• Facility of encashment of certificates through banks.
• Certificates are encashable any Post office in India before maturity by way of transfer to desired post office.
• Certificates are transferable from one Post office to any Post office.
• Certificates are transferable from one person to another person before maturity.
• Duplicate Certificate can be issued for lost, stolen, destroyed, mutilated or defaced certificate.
• Nomination facility available.
• Facility of purchase/payment to the holder of Power of attorney.
• Tax Saving instrument – Rebate admissible under section 80 C of Income Tax Act.
• Interest income is taxable but no TDS
• Deposits are exempt from Wealth tax.

Read out Some FAQ’s on NSC Click here.

Contact our Small Savings Latest New Interest Rates on National Savings Certificates NSC Agent for Buy/ Purchase New NSC online here..