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S. N.
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Name of Scheme
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Maturity period
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Features
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1
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Post Office Saving Account
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No period prescribed
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Minimum Rs. 500/- & No maximum limit. Interest up to Rs. 10000/- is tax free.
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2
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5 Years
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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.
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3
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1 Year
2 Year
3 Year
5 Year
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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.
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4
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5 Years
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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.
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5
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5 Years
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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.
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6
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5Years
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Minimum Rs. 1000/- and no maximum limit. Tax rebate under sec-80C of IT Act is available.
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7
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Variable
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Minimum Rs. 1000/- and no maximum limit. Money doubles on maturity. Can be prematurely encashed after 2 ½ years at prescribed rates.
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8
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15 Years
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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.
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9
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21 Years
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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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