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SO FAR VISITIED
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Thursday, June 9, 2011

Post office Savings Schemes and its Main Features


Scheme
Features
Savings Account

Type- Single/Minor/Joint of two or three/Pension/SANCHAIKA /NAREGS
First dep.- Cash, Min. 50/-Max. Single-100000/- Joint-200000/-
Cheque A/c-Min. - Rs. 500/-
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One A/c in One PO
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Closure- At any time
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Nomination facility
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Interest rate-3.5 P.A. From 1.3.2003
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Introduction Compulsory in Individual A/c s
R .D. Account

Term-5 years
Type-Single/Minor/Joint of two
Min. 10/- , More in multiples of 5 , Max. No limit
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Loan - after 12 deposits & 12 months, 50% of Balance
Pre mature Closure- After 3 years @ 3.5 P.A
Rebate on advance deposits, default fee on late deposits
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Amount- Rs. 728.90 on an Account of Rs. 10/-PM
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Can be extended further for complete years up to a max. of 5 years
T.D. Account- 1/2/3/5 years
Type- Single/Minor/Joint of two
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Min. 200/- , More in multiples of 200 , Max. No limit
Pledge facility
Interest paid annually, Agency-SAS
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Pre mature Closure- After 6 months: conditions apply
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Post Maturity interest- up to a max. Of 2 years
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Interest-1Yr.-6.25,2Yrs.-6.50,3Yrs.-7.25,5Yrs-7.50 %
compounded Quarterly.
On lapse of a period after maturity, can be reinvested from back date , Max.
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Benefit of 30 months period. Conditions apply
MONTHLY INCOME SCHEME

Type- Single/Minor/Joint of two & Three
Min. 1500/- , More in multiples of 1500 ,Max. Single-4.5 Lac, Joint-9.0 Lac
Term-6 years, Agency-SAS
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Pre mature Closure- After 1 year: conditions apply
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Post Maturity interest- up to a max. Of 2 years
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INTEREST- 8% P.A., PAID MONTHLY
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Automatic payment of interest in Savings A/c , Post dated cheques,Electronic cheque clearance
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PUBLIC PROVIDENT FUND
Term-15 years, Type- Single & Minor
Min.-5/-, 500/-Max.-70000/-in a Financial year
Max. Deposits in a financial year-12
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Loan after 1 year but before 5 years
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withdrawal after 5 years
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TAX rebate under 80-c on yearly deposits, interest totally tax free
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Loan – 25% of balance of second preceding year, Max. 36 instalments, Interest-1%
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Post Maturity interest- up to a max. of 2 years
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INTEREST- 8% P.A
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Can be extended for block of 5 years with or without deposits
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Transfer from PO to Bank & vice versa
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W/D- Least of 50 % of balance of preceding first or fourth year less loan if any
Senior Citizen Savings Scheme

Type- Single/ Joint of two, not for NRI
Term-5 yrs., Min. 1000/- , More in multiples of 1000
Max. Single-15 Lac
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For Sr. Citizens & Persons >= 55 years if money invested in one month
Can be extended for three years on application within 1 year
Pre mature Closure- After 1 year: conditions apply
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Post Maturity interest- up to a max. of 2 years
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INTEREST- 9% P.A., Paid quarterly, on last day of Mar., Jun., Sep. & Dec.
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Automatic payment of interest in Savings

 S Jayachandran -9961464279

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