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Different Post-Office for Small Savings Schemes are as follows:

1.Post-Office Saving Account:

The post-office savings account can be opened minimum of Rs. 50 and

maximum of Rs. 1,00,000 by an individual. Howeve, fo !oint account the

uppe limit is Rs. ",00,000#-, but thee is no limit fo goup, institutional o

official capacity account.


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Image Courtesy : economictimes.indiatimes.comthum!msid-""#$%&'(width-)&%(resi*emode-&small-saving-

schemes-offering-attractive-returns.+,g

$ithdawal fom the account is by che%ues and thee is no estiction on

withdawals, unli&e in a commecial ban&. 'ccounts having minimum

balance of Rs. "00 duing 'pil- (eptembe and )ctobe-*ach %ualify fosix monthly pi+e daws in the next anuay and uly.


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The inteest is tax fee and is 1#" pe cent moe than that offeed on

savings ban& account by commecial ban&s.

.Post Office ecurring De,osit:

The scheme coves fee life insuance cove afte eceiving contibutions

fo " months on account of denomination of Rs. 5, Rs. 10, Rs. 15 o Rs.

"0.

n the event of death of the deposito afte a minimum peiod of two yeas,

fom the date of opening the account, the hei o nominee will get the full

matuity value of the account povided the deposito/s age was between

and 5 yeas and thee have been no withdawals o defaults duing the

fist two yeas and the account emains cuent at the time of death.

The benefit of cove is not available fo an extended peiod of deposit

beyond five yeas.

$.Post Office /ime De,osit:

' Time 2eposit is an investment option that pays annual inteest ates

compounded %uately, and is available though post-offices acoss the

county. They ae suitable fo capital appeciation in the sense that money

gows at a pe-detemined ate.

3nli&e cetain othe investment options, whee etuns ae commensuate

with the is&s, the ate of gowth is also high4 Time 2eposits etun a lowe,

but safe, gowth in investment.

Theefoe, Time 2eposits ae one of the bette ways to get a elatively high

inteest ate fo savings. The only condition is that they ae bound fo some

specific peiod of time. The investos can boow against a Time 2eposit.

The balance in account can be pledged as a secuity fo a loan.


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&.Post Office 0onthly Income Scheme:

The post-office monthly income scheme *(6 povides fo monthly

payment of inteest income to investos. t is meant fo investos who want

to invest a lump-sum amount initially and ean inteest on a monthly basis

fo thei livelihood. The scheme is, theefoe, a boon fo etied pesons.

.2ational Savings Scheme:

n addition to the above post-office deposit scheme, vaious 7ational

(avings (chemes have been intoduced fom time to time to mobilise

public savings fo financing the economic development plans.

These schemes have been vey popula in view of tax benefits en!oyed by

them. 3nli&e commecial ban& schemes, these schemes ae unifom all

ove the county.

'gain, the inteest is paid on completed yeas no payment being

admissible fo bo&en peiods of a yea. 8ematue encashment is

discouaged. (ome of the schemes ae offeed though the (tate 9an& of

ndia #nationalised ban&s. The national savings cetificates sold though

(.9. ae designated as :9an& (eies;.

3nli&e commecial ban&s schemes, nomination facility is available fo all

the 7ational (avings (chemes. 'ccounts can also be tansfeed fom one

8ost )ffice to anothe.


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".Indira 4i5as Patras:

These instuments ae available at post offices and can be puchased by

any peson. *inimum investment in ndia ?i&as 8atas is Rs. 100 and

thee is no maximum limit.

These ae available in the matuity denominations of Rs. "00, 500, 1000

and Rs. 5000 an the investo has to pay half the face value. The initial

amount is doubled in 5 yeas and these= patas cannot be encased

pematue.

The inteest on ndia ?i&as 8atas is compounded annually, is payable on

matuity only and is taxable. These instuments ae li&e beae-bonds and

hence have to be caefully peseved.

'.1 6ears Pu!lic Provident 7und Account:

3nde this scheme, deposits can be made in lumpsum o in 1"

installments, minimum of Rs. 500#- and maximum of Rs. A0,000 in a

financial yea. These deposits %ualify fo income tax ebate unde (ec. -

of .T. 'ct. $ithdawal is pemissible evey yea fom Ath financial yea4

loan facility is available fom d financial yea.

#.De,osit Scheme for etiring 8ovt. 9m,loyees 1#'':

This scheme pemits only one account which can be opened by etied

cental#state Bovt. employee in its own name o !ointly with the esponse.

The account can be opened within thee months fom the date of eceiving

the etiements benefits with a minimum of Rs. 1000#- and in multiple

theeof can be withdawn afte the expiy of yeas fom the date of

deposit.

)nly one withdawal in multiples of Rs. 1000#- can be made in a calendayea. 8ematue encashment can be made afte one yea fom the date of


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deposit but befoe the expiy of yeas in which case the inteest on the

amount so withdawn will be payable fom the date of deposit upto the date

of withdawal. The excess inteest paid will be ad!usted at the time of such

withdawal.

1%.De,osit Scheme for etiring 9m,loyees of Pu!lic Sector

Com,anies( 1##1:

To povide the benefits to the etiing employees of public secto

companies, the deposit scheme fo etiing govt. employees-1CC was

intoduced in 1CC1 fo the public secto companies etiing employees.

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