National Savings Time Deposit Account(TD)
Post Office Time Deposit Account (TD), This type of accounts arrived in market with Government of India, notification, The National Savings Time Deposit Rules, 1981, and formally established the Time Deposit Account scheme.
Salient features:
Public Provident Fund Account (PPF )
Duration: 15 year Public Provident Fund Account (PPF )
Interest Rate: 7.1 % per annum (compounded yearly).
Deposit: Minimum INR. 500/- Maximum INR. 1,50,000/- in a financial year.
Frequency of deposit: Deposits can be made in lump-sum or in instalments.
National Savings Recurring Deposit Account(RD)
5-Year Post Office Recurring Deposit Account (RD)
Interest rates: 6.7 % per annum (quarterly compounded)
Minimum amount: 100/- per month
Maximum Amount: any amount in multiple of 10/-. No maximum limit.
Account Type: Individual, Joint Account, Guardian on behalf of Minor, Minor above 10 years
National Savings Monthly Income Account (MIS)
Interest: 7.4 % per annum payable monthly.
Subscription amount: In multiples of INR 1000/-
Maximum Limit: Maximum investment limit is INR 9 lakh in single account and INR 15 lakh in joint account. An individual can invest maximum INR 9 lakh in MIS (including his share in joint accounts). For calculation of share of an individual in joint account, each joint holder have equal share in each joint account.
Account Type: Individual, Joint, Guardian on behalf of Minor, Minor above 10 years in his/her name.
Senior Citizen Savings Scheme (SCSS)
Senior Citizen Savings Scheme (SCSS)
This scheme is ensuring social security for elderly well to do senior citizens since 2004. This scheme was first introduced by government of India to deliver it via post offices.
Interest Rate: 8.2 % per annum
Deposit : one time lump sum
Minimum Subscription amount: 1000/-
Maximum: in multiple of 1000/- up to 30 lakh.
Sukanya Samriddhi Accounts
Sukanya Samriddhi Accounts can be opened in post office, this type of special account is covered under Government of India, Sukanya Samriddhi Yojna, that entitles special interest rate and features.
Interest Rate: 8.2% annual compounding
Minimum Deposit: 250/- per financial year
