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National Savings (Monthly Income Account) Scheme
INTRODUCTION:
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Account matures in 5 years.
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Minimum ₹ 1000/- & in the multiples thereof. Maximum ₹ 9 Lakhs in single account and ₹ 15 lakhs in Joint Account.
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A depositor may operate more than one account under this scheme subject to the ceiling of maximum amount, which may be invested in single, or joint account.
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A guardian may also open an account on behalf of a minor or a person of an unsound mind.
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Account can be closed prematurely after one year but before the expiry of three years on deduction of 2% of the deposit. In case the account is closed after expiry of three years, 1% of the deposit shall be deducted.
Click for Scheme Rule(
1987 and
2019 )
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