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National Savings Schemes At a glance

S. N.

Name of Scheme

Maturity period

Features

1

Post Office Saving Account

No period prescribed

Minimum Rs. 500/- & No maximum limit. Interest up to Rs. 10000/- is tax free.

2

National Savings Recurring Deposit Account

5 Years

Minimum Rs. 100/- per month. No maximum limit. Can be prematurely closed after three years from the date of opening of the account. Can also be extended after maturity with/without deposit.

3

National Savings Time Deposit Account

1 Year

2 Year

3 Year

5 Year

Minimum Rs. 1000/- and in multiples thereof. No Maximum Limit. Interest calculated on quarterly basis and payable annually. Tax rebate under Sec-80C of I.T. Act is available in 5 Year TD Account.

4

National Savings (Monthly Income Account) Scheme

5 Years

Minimum Rs. 1000/- & in the multiple thereof. Maximum Rs. 4.5 Lakhs in Single Account and Rs. 9 Lakhs in Joint. Interest payable every month. Can be prematurely closed after completion of one year from date of opening of account.

5

Senior Citizen Savings Scheme

5 Years

Minimum Rs. 1000/- & in the multiples thereof with maximum of Rs. 15 Lakhs. Interest payable quarterly. Can also be prematurely closed. Account can be extended on maturity. Income tax rebate under sec.80C of IT Act is available.

6

National Saving certificate (VIII issue)

5Years

Minimum Rs. 1000/- and no maximum limit. Tax rebate under sec-80C of IT Act is available.

7

Kisan Vikas Patra

Variable

Minimum Rs. 1000/- and no maximum limit. Money doubles on maturity. Can be prematurely encashed after 2 ½ years at prescribed rates.

8

Public Provident Fund Scheme

15 Years

Minimum Rs. 500/- & Maximum Rs. 150000/- in a F.Y. Tax free interest. Income tax rebate under sec.80C of IT Act is available. Facility of withdrawal and loan is available after prescribed period. Can also be prematurely closed subject to conditions. Account can be extended in block period of five years.

9

Sukanya Samriddhi Account

21 Years

Minimum Rs. 250/- & Maximum Rs. 150000/- in a F.Y. Tax free interest. Income tax rebate under sec.80C of IT Act is available. 50% of balance can be withdrawn for higher education after attaining the age of 18 years or passing tenth standard, whichever is earlier.

 
 
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National Savings Institute, Ministry of Finance (DEA) Govt. of India First Floor,ICCW Building.4,Deen Dayal Upadhayaya Marg,New Delhi-110002.
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