info about 5 Post Office Schemes including PPF and Kisan Vikas Patra - Shixak Power

Info about 5 Post Office Schemes including PPF and Kisan Vikas Patra

• The PPF account is earning 7.1% interest.
• The Kisan Vikas Patra scheme is earning 6.9% interest

If you are planning to opt for any of these post office savings schemes or have any small savings scheme account with a post office, here are the account-related service charges you should be aware of.For the issue of duplicate passbook, depositors are charged Rs 50.For the issue of a statement of an account, you will be charged Rs 20 for each case.For the issue of deposit receipt, you will have to pay Rs 20 in each case.For the issue of passbook in lieu of lost or mutilated certificate depositors will have to pay Rs 10 per registration.Rs 50 will be charged for cancellation or change of nomination.For transferring an account, and pledging of an account, depositors will be charged Rs 100.For the issue of the checkbook in Savings bank account, depositors will not be charged any fee for up to 10 leaves in a calendar year. However, thereafter he/she will be charged Rs 2 per cheque leaf.Rs 100 will be charged on dishonor of cheque from the depositor.

5-Year Post Office Recurring Deposit Account (RD) Interest payable, Rates, Periodicity etc.Minimum Amount for opening of account and maximum balance that can be retainedFrom 01.04.2020, interest rates are as follows:- 5.8​ % per annum (quarterly compounded)​Minimum INR 100/- per month or any amount in multiples of INR 10/-. No maximum limit.Salient features including Tax RebateAccount may be opened by (i) a single adult (ii) Joint Account (Maximum 3 adults)(iii) Minor above 10 years of age (iv) A guardian on behalf of a minor/Person of unsound mind Account can be opened by cash / Cheque and in case of Cheque the date of deposit shall be date of clearance of ChequeNomination

facility is available at the time of opening and also after opening of accountPremature closure is allowed after three years from the date of opening of the account and interest at the rate applicable from time to time to the Post Office Savings Account shall be payable on such premature closure of accountAccount can be transferred from one post office to anotherAny number of accounts can be opened in any post officeSubsequent deposit can be made up to 15th day of next month if account is opened up to 15th of a calendar month and up to last working day of next month if 

By investing in this scheme Rs. Tax exemption up to Rs 1.5 lakh can be obtained under 80C.

આ પણ વાંચો:-  જાણો હોમ લોનના લેટેસ્ટ વ્યાજદર

account is opened between 16th day and last working day of a calendar monthIf subsequent deposit is not made up to the prescribed day, a default fee is charged for each default, default fee @ 1 Rs for every 100 rupee shall be charged. After 4 regular defaults, the account becomes discontinued and can be revived in two months but if the same is not revived within this period, no further deposit can be made *If in any RD account, there is monthly default amount , the depositor has to first pay the defaulted monthly deposit with default fee and then pay the current month deposit. This will be applicable for both CBS and non CBS ​There is rebate on advance deposit of at least 6 installments, Rs. 10 for 6 month and Rs. 40 for 12 months Rebate will be paid for denomination of Rs. 100 Minor after attaining majority has to apply for conversion of the account in his nameOne loan up to 50% of the balance allowed after one year. It may be repaid in one lumpsum along with interest at the prescribed rate at any time during the currency of the account Protected Savings Scheme is applicable for the account of denomination Rs 100/-Online Deposit facility is available through Intra Operable Netbanking/Mobile BankingOnline Deposit facility is available through IPPB Saving AccountDate of maturity will be 5 years after date of opening. Account can be extended for further 5 year by giving application at account office ​

Under this scheme, if you invest Rs 1 lakh for 10 years, you will get Rs 1,94,342. That is, you will get interest in excess of Rs 94,342 lakh.

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Post Office Monthly Income Scheme ::

The interest is being paid at 6.6%. An account can be opened with a minimum of Rs 1,000 under