Complete information of Post office National Savings Certificate

Please find below the details of post office MIS

• Minimum INR. 100/- No maximum limit available in denominations of INR. 100/-, 500/-, 1000/-, 5000/- & INR. 10,000/-.
• 8% Interest compounded six monthly but payable at maturity. INR. 100/- grows to INR 160.10 after 6 years.
• One person can be nominated for certificates of denomination of INR 100 and more than one person can be nominated for higher denominations.

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5-Year Post Office Recurring Deposit Account

Post office recurring deposit is small savings scheme promoted by Govt of India which can be opened in any of the post office. One can deposit as small as Rs 10 every month.

On maturity after 5 years, INR 10/- account fetches INR 728.90/-. Can be continued for another 5 years on year to year basis.Any individual (a single adult or two adults jointly) can open an account.

Features of post office recurring deposit

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Post Office Senior Citizen's Saving Scheme

Senior Citizen's saving scheme is a social security tool given to senior citizens by govt. of india. Please find the features as under

• 9% interest per annum payable quarterly.
• Minimum Deposit: Rs 1000 and multiples thereof.
• Maximum Limit : 15 Lakhs.
• The scheme is for 5 years and can be extended for a further period of 3 years.
• 
  
  Premature closure is allowed after one year on deduction of 1.5% interest & after 2 years 1% interest. 
  
  

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Various investments under section 80C

Under section 80C of the Income Tax Act, certain investments are deductible (up to a maximum of Rs 1 lakh) from gross total income. Section 80C benefit has been provided to encourage long term savings and investments. This limit is extended to everyone irrespective of their income levels and tax slab.

Please find various investment options under section 80C

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All About Kisan Vikas Patra

Kisan Vikas Patra is one of the Post office deposit schemes. Please find below salient features of kisan vikas patra

• Minimum Investment Rs. 500/- No maximum limit.
• Rate of interest 8.40% compounded annually.
• Money doubles in 8 years and 7 months.
• Two adults, Individuals and minor through guardian can purchase.

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Salient Features of Post Office Time Deposit Account

Please find the features of Post Office Time Deposit Account below.

Period	Rate of Interest
One Year	6.25%
Two years	6.50%
Three years	7.25%
Five years	7.50%

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Salient Features of Post Office Monthly Income Scheme (MIS)

Please find the Salient Features of Post Office Monthly Income Scheme (MIS) as under

1. Interest rate of 8% per annum payable monthly.
2. Maturity period is 6 years.
3. Minimum investment amount is Rs.1000/- or in multiple thereof.
4. Maximum amount is Rs. 4.5 lacs in single account and Rs. 9 lacs in a joint account.
5. 
   
   Account can be opened by an individual, two/three adults jointly and a minor through a guardian.
   
   
   

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