Postal Schemes :

Monthly Income Scheme (MIS) Safe & sure way to get a regular monthly income. Specially suited for retired employees/ Senior Citizens or any one with high sum for investment .  Rate of interest 8.5% Maturity Period - Five Years. No Bonus on Maturity w.e.f.  01.12.2011 . Auto credit facility to SB Account.     Type of Account Minimum limit Maximum limit Single INR 1500/- INR 4.5 lakhs Joint INR 1500/- INR 9 lakhs

Recurring Deposit Any individual (a single adult or two adults jointly) can open an account. Advance Deposits earn rebate. Four defaults are allowed. Rate of interest 8.40% Defaults can be paid within two months. Part withdrawal facility available. Premature closure allowed after three years. Pay Roll Savings Scheme is also available for employees of various Establishments.     Type of Account Minimum Deposit Maximum Deposit Individual Account INR. 10/- and in multiples of INR. 5/- thereafter No limit.

Time Deposit Any individual  (a single adult or two adults jointly) can open an account. Group Accounts, Institutional Accounts and Misc. account not permissible. Trust, Regimental Fund or Welfare Fund not permissible to invest. 1 Year, 2 Year, 3 Year and 5 Year TD can be opened. In case of premature closure of 1 year, 2 Year, 3 Year or 5 Year account on or after 01.12.2011, if the deposit is withdrawn after 6 months but before the expiry of one year from the date of deposit, simple interest at the rate applicable to from time to time to post office savings account shall be payable. In case of premature closure of 2 year, 3 year or 5 year account on or after 01.12.2011, if the deposit is withdrawn after the expiry of one year from the date of deposit, interest on such deposits shall be calculated at the rate, which shall be one per cent less than the rate specified for a period of deposit of 1 year, 2 year or 3 years as mentioned in the concerned table given under Rule 7 of Post office Time Deposit Rules. Rate of interest - 8.20%,8.30%,8.40%,8.50% compounded quarterly for 1,2,3 &5 years TD account respectively. The investment under this scheme qualify for the benefit of Section 80C of the Income  Tax Act, 1961 from 1.4.2007.      Type of Account Minimum Deposit Maximum Deposit 1,2,3 & 5 Year TD INR.200/- and in multiples of INR. 200/- thereafter No limit.

Senior Citizens Savings Scheme (SCSS) A new avenue of investment and return for Senior Citizen. The account may be opened by an individual,   Who has attained age of 60 years or above on the date of opening of the account.    Who has attained the age 55 years or more but less than 60 years and has retired under a Voluntary Retirement Scheme or a Special Voluntary Retirement Scheme on the date of opening of the account   within three months from the date of retirement.   No age limit for the retired personnel of Defence services provided they fulfill other specified conditions. The account may be opened in individual capacity or jointly with spouse. Non-resident Indians (NRIs) and Hindu Undivided Family (HUF) are not eligible to open an account. The individual may open one or more account in the multiple of INR.1000/-,subject to a maximum limit of INR.15 lakh. No withdrawal shall be permitted before the expiry of a period of five years from the date of opening of the account. The depositor may extend the account for a further period of 3 years. Premature closure of account is permitted   After one year but before 2 years on deduction of 1 ½ % of the deposit.   After 2 years but before date of maturity on deduction of 1% of the deposit. In case of death of the depositor before maturity, the account shall be closed and deposit refunded  without any deduction along with interest. Interest @ 9.30% per annum from the date of deposit on quarterly basis. Interest can be automatically credited to savings account provided both the accounts stand in the same post office. Interest rounded off to the nearest multiple of rupee one. Post Maturity Interest at the rate applicable to the deposits under Post Office Savings Accounts from time to time is admissible for the period beyond maturity. Nomination facility is available in the Scheme.  The investment under this scheme qualify for the benefit of Section 80C of the Income  Tax Act, 1961 from 1.4.2007.

15 Years Public Provident Fund Ideal investment option for both salaried as well as self employed classes. Non-Resident Indians (NRIs) not eligible. Investment up to INR. 1,00,000 per annum qualifies for IT Rebate under section 80 C of IT Act. The rate of interest on the subscriptions made to the fund on or after 01.12.2011 and balances at credit of the subscriber in the existing PPF account shall bear interest at the rate of eight point eight per cent  (8.80%) per annum.  Loan facility available from 3rd financial year upto 5th financial year. The rate of interest charged on loan taken by the subscriber of a PPF account on or after  01.12.2011 shall be  2% p.a. However, the rate of interest of  1% p.a. shall continue to be charged on the loans already taken  or taken up to 30.11.2011. Withdrawal permitted from 6th financial year. Free from court attachment. An individual cannot invest on behalf of HUF (Hindu Undivided Family) or Association of persons.     Type of Account Minimum limit Maximum limit Public Provident Fund (Individual account on his behalf or on behalf of minor of whom he is the guardian) INR. 500/- in a financial year INR. 1,00,000/- in a financial year.

National Savings Certificate     NSC VIII Issue Scheme specially designed for Government employees, Businessmen and other salaried classes who are Income Tax assesses. No maximum limit for investment. No tax deduction at source. Certificates can be kept as collateral security to get loan from banks. Investment up to INR 1,00,000/- per annum qualifies for Income Tax Rebate under section 80C of IT Act. Trust and HUF cannot invest. Rate of interest 8.60% for 5 years maturity     NSC IX Issue No maximum limit for investment. Minimum INR. 100/- No maximum limit available in denominations of INR. 100/-, 500/-, 1000/-, 5000/- & INR. 10,000/-. A single holder type certificate can be purchased by an adult for himself or on behalf of a minor or to a minor. Rate of interest 8.90% for 10 years maturity

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Source : jaininvest