POST SCHEMES

 

Post Office Savings Schemes

Scheme Interest (%) Minimum  Investment (Rs.) Maximum  Investment (Rs) Features Tax Breaks National Savings Certificate 8.00a 100 No limit 6-year tenure Section 80C benefit Public Provident Fund 8.00b 500 70,000 15-year term; tax-free returns Section 80C benefit Kisan Vikas Patra 8.41b 100 No limit Money doubles in 8 years, 7 months No tax benefit Monthly Income Scheme 8.00 1,500 Single A/c: 4.5 lakhs Joint A/c: 9 lakhs 6-year tenure; monthly returns; 5% Bonus on Maturity No tax benefit   Time Deposits 6.25-7.50 200 No limit Available for 1, 2, 3, 5 years No tax benefit Recurring Deposits 7.50c 10 No limit 5-year tenure No tax benefit Senior Citizens Saving Scheme 9.00d 1,000 15 lakhs 5 year tenure; minimum age 55; also available with public sector banks No tax benefit Savings Bank Account 3.5   Single A/c: 1 lakh Joint A/c: 2 lakhs Any individual can open an account; Cheque facility available. No tax benefit Sec 80C benefit: Investments up to Rs 1 lakh in specified securities (maximum of Rs 70,000 in PPF) qualify for deduction Compounded half-yearly Compounded yearly Compounded quarterly Payable quarterly