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September 17, 2011

SMALL SAVINGS SCHEME AT A GLANCE

Rajesh Kumawat | 12:04 | Best Blogger Tips




Sl.
No
Name of the Scheme
Rate of Interest
Maturity Period
Minimum Deposit
Other Facilities.
1.
Post Office Savings Bank Account
3.5 %
Per Annum
Minimum       Rs.50/ 
SB cheque account min dep is Rs500/
Maximum Limit
Individual – Rs. 1Lakhs
Jointly –      Rs.2 Lakhs
Cheque facility available Interest exempt from Income Tax.
2.
Recurring Deposit Account
Rs.10/- account fetches Rs.728.90 on maturity
5 years account can be continued for another 5yr term.
Rs.10/- or Multiple Rs. 5/-
Insurance benefit covered up to Rs.50/- denomination. Premature encashment  available after 3 years.
3.
Time Deposit
1 Year
2 Year
3 Year 
5 Year

6.25 %
6.50%
7.25%
7.50 %

Rs.200/-  and multiple by 200 only
Maximum- no limit
Interest payable annually.  But calculated quarterly.
4.
Public Provident fund account
8 % per annum
compounded quarterly.

15 years
Minimum Rs.500/-
Maximum Rs.70,000/-
In a financial year
Interest exempted from Income Tax. Withdrawal  is permissible from 7thFinancial Year.
5.
Post Office Monthly income Scheme
8 % per annum
Interest payable monthly
6th years
Minimum Rs.1,500/-
Maximum limit-
Individual Rs.4.5 Lakhs
Jointly      Rs.9 Lakhs
After Completion of 6 years 10 % Bonus also payable on maturity value.
6.
Kisan Vikas Patra
Money double in 8 years 7 month
8 years 7 months
Rs.100/-
Maximum- no Limit
Pre mature facility payable after completion of 2 and half  years.
7.
National  Savings Certificates VIII issue
8 % per annum
interest compounded half  yearly
6 years
Rs.100
Maximum- no Limit
Income rebate available under section 80 L & 88
Premature facility available after completion of 3 years.
8.
Senior Citizen Savings Scheme
9 % per annum payable quarterly
5 years
Rs.1,000/- or Multiple thereof .
Maximum- 15 Lakhs.
Account can be opened in SBI or selected Nationalized Bank or Post Office.


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