Salient Features:
Interest
rate of 8.5% per annum payable monthly w.e.f. 01.04.2012
Maturity
period is 5 years.
No Bonus
on Maturity w.e.f. 01.12.2011.
No tax
deduction at source (TDS).
No tax
rebate is applicable.
Minimum
investment amount is Rs.1500/- or in multiple thereafter.
Maximum amount is Rs.
4.50 lakhs in a
single account and Rs.9 lakhs in a joint
account.
Auto
credit facility of monthly interest to saving
account if accounts are at the same post office.
Account can be
opened by an individual, two/three adults jointly, and a minor through a
guardian.
Non-Resident Indian /
HUF cannot open an Account.
Facility
of premature closure of account after 1 year but on or before 3 years @ 2.00%
discount.
Deduction of 1% if account
is closed prematurely at any time after three years.
Suitable
scheme for retired employees / senior citizens and for those who need regular
monthly income.
No comments:
Post a Comment