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/- ---------------------------------------------------------- One A/c in One PO ---------------------------------------------------------- Closure- At any time ---------------------------------------------------------- Nomination facility -------------------------------------------------------- Interest rate-3.5 P.A. From 1.3.2003 ---------------------------------------------------------- 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 --------------------------------------------------------- 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 ---------------------------------------------------------- Amount- Rs. 728.90 on an Account of Rs. 10/-PM -------------------------------------------------------- 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 ---------------------------------------------------------- Min. 200/- , More in multiples of 200 , Max. No limit Pledge facility Interest paid annually, Agency-SAS ---------------------------------------------------------- Pre mature Closure- After 6 months: conditions apply ---------------------------------------------------------- Post Maturity interest- up to a max. Of 2 years --------------------------------------------------------- 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. ---------------------------------------------------------- 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 ---------------------------------------------------------- Pre mature Closure- After 1 year: conditions apply -------------------------------------------------------- Post Maturity interest- up to a max. Of 2 years --------------------------------------------------------- INTEREST- 8% P.A., PAID MONTHLY ---------------------------------------------------------- Automatic payment of interest in Savings A/c , Post dated cheques,Electronic cheque clearance ----------------------------------------------------------
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 ------------------------------------------------------- Loan after 1 year but before 5 years ------------------------------------------------------- withdrawal after 5 years -------------------------------------------------------- TAX rebate under 80-c on yearly deposits, interest totally tax free ---------------------------------------------------------- Loan – 25% of balance of second preceding year, Max. 36 instalments, Interest-1% ---------------------------------------------------------- Post Maturity interest- up to a max. of 2 years ---------------------------------------------------------- INTEREST- 8% P.A --------------------------------------------------------- Can be extended for block of 5 years with or without deposits --------------------------------------------------------- Transfer from PO to Bank & vice versa ---------------------------------------------------------- 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 ---------------------------------------------------------- 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 ---------------------------------------------------------- Post Maturity interest- up to a max. of 2 years ---------------------------------------------------------- INTEREST- 9% P.A., Paid quarterly, on last day of Mar., Jun., Sep. & Dec. ------------------------------------------------------- Automatic payment of interest in Savings
	S Jayachandran -9961464279