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| Name | Limits of | Maturity Period (Years) | | Rate of Interest | of the Scheme | Investment | April | April | Since | Since | | (per cent per annum) | | | 1991 | 1992 | Sep. 2, | Jan. 1, | | April | Since | | | | | 1993 | 1999 | | 1991 | April | | | | | | | | | 1992 |
| 1 | 2 | 3 | 4 | 5 | 6 | | 7 | 8 |
| 1.Post Office Savings | Minimum Rs.20 and maximum | # | # | # | # | | 5.5 | 5.5 | Bank Accounts | Rs.1,00,000 for an individual | | | | | | | | | account (Rs.2 lakh jointly. No | | | | | | | | | limit on group, institutional | | | | | | | | | or official capacity accounts) | | | | | | | | 2.Public Provident | Minimum Rs.100 and | 15 | 15 | 15 | 15 | | 12 | 12 | Fund 1968 | maximum Rs.60,000 in a | | | | | | | | | fical year. | | | | | | | | 3.Post Office Time | Minimum Rs.50 and | 1,2,3 | 1,2,3 | 1,2,3 | 1,2,3 | | 9.50 to | 12.00 to | Deposit Account | Maximum no limit. | And 5 | and 5 | and 5 | and 5 | | 11.50 + | 13.50++ | 4.Post Office | Minimum Rs.10 per month | 5 | 5 | 5 | 5 | | 11.5 | 13.5 | Recurring Deposit | or any amount in multiples | | | | | | | | Account | of Rs. 5. No maximum limit. | | | | | | | | 5.National Savings | Minimum Rs.100 and | 4*** | 4*** | 4*** | 4*** | | 11 | 11 | Scheme 1992 | and Maximum no limit. | | | | | | | | 6 Post Office | Minimum Rs.6,000 and | 6 | 6 | 6 | 6 | | 12 | 14 | Monthly Income | maximum Rs.3 lakhs in single | | | | | | | | Scheme | account and Rs.6 lakhs in | | | | | | | | | joint account. | | | | | | | | 7.NSC VIII Issue | Minimum Rs.100 | 6 | 6 | 6 | 6 | | 12 | 12 | | Maximum no limit. | | | | | | | | 8.Indira Vikas | No limit. | 5 | 5 | 5 ½ | 6 | | 14.87@ | 14.87@ | Patra ££ | | | | | | | | | 9.Kisan Vikas Patra | No limit. | 5 ½ | 5 | 5 ½ | 6@@ | | 13.43@ | 14.87@ | 10.Deposit Scheme for | Minimum Rs.1,000 and | # | # | # | # | | 9 | 9 | Retiring Government | maximum not exceeding the | | | | | | | | Employees 1989/ | total retirement benefits. | | | | | | | | Retiring Employees | | | | | | | | | of Public Sector | | | | | | | | | Companies 1991 | | | | | | | | |
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| Name | Rate of Interest | Whether | Deductions | Amount | of the | (per cent per annum) | interest | under | Out- | Scheme | | is tax | Sec.88 | standing | | | Since | Since | Since | Since | Since | free under | of | at end- | | Sept. 2, | Jan. 15, | Mar. 1, | Mar. 1, | Mar. 1 | Income | Income | March 2001 | | 1993 | 2000 | 2001 | 2002 | 2003 | Tax | Tax | (Rupees | | | | | | | act | Act | crore) |
| 1 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 |
| 1.Post Office Savings | 5.5 | 4.50 ## | 3.50+++ | 3.50£ | . | Yes | No | 8830 | Bank Accounts | | | | | | Sec.10 | | | 2.Public Provident | 12 | 11 | 9.5 | 9 | 8 | Yes | Yes | 6392 # # # | Fund 1968 | | | | | | Sec.10 | | | | | | | | | | | | 3.Post Office Time | 10.50 to | 8.0 to | 7.5 to | 7.25 to | 6.25 to | Yes | No | 6921 | Deposit Account | 12.50 * | 10.50 ** | 9.00$ | 8.50$$ | 7.50 $$$ | Sec. 80-L | | | 4.Post Office | 12.5 | . | . | . | . | do | No | 18696 | Recurring Deposit | | | | | | | | | Account | | | | | | | | | 5.National Savings | 11 | 10.5 | 9 | 8.5 | 7.5 | do | Yes | 811 | Scheme 1992 | | | | | | | | | 6 Post Office | 13 | 11 | 9.5 | 9 | 8 | do | No | 42560 | Monthly Income | | | | | | | | | Scheme | | | | | | | | | | | | | | | | | | 7.NSC VIII Issue | 12 | 11.5 | 9.5 | 9 | 8 | do | Yes | 36649 | | | | | | | | | | 8.Indira Vikas | 13.43@ | - | - | - | . | No | No | 9971 | Patra ££ | | | | | | | | | 9.Kisan Vikas Patra | 13.43@ | 12.25@ | 10.03 | . | . | No | No | 92462 | 10.Deposit Scheme for | 10 | 9 | 8.5 | 8 | . | Yes | No | 607 | Retiring Government | | | | | | Sec.10 | | | Employees 1989/ | | | | | | | | | Retiring Employees | | | | | | | | | of Public Sector | | | | | | | | | Companies 1991 | | | | | | | | |
| # : open ended scheme.
## : 4.5 % for individual/joint and group account, 4% for public account and security deposit accounts for purchase of motor vehicles or tractors, official capacity accounts and other accounts 3%.
### : Relate to Post Office Transactions only.
+ : Compounded quarterly and payable annually. 1 Year -9.5%, 2 Years -10%, 3 Years -10.5% and 5 Years -11%.
++ : Compounded quarterly and payable annually. 1 Year -12%, 2 Years -12.5.0%, 3 Years -13% and 5 Years -13.5%.
+++ : Single Account , Pension Account , Joint Account, P.F., Superannuation, Gratuity Fund Account, Sanchayika Account 3.5%, Public Account 3%, Security Deposit Account for purchase of motor vehicle or tractor 3%, for other purposes 2%, official capacity account 2%.
£ : 3.5% per annum on individual /Joint and group accounts. 3%.per annum on public accounts and security Deposit Accounts. For purchase of motor vehcle or tractor. official capacity accounts 3 % & other accounts 2 %.per annum
* : Compounded quarterly and payable annually. 1 Year -10.5%, 2 Years -11%, 3 Years -12% and 5 Years -12.5%.
** : Compounded quarterly and payable annually. 1 Year -9%, 2 Years -10%, 3 Years -11% and 5 Years -11.5%.
*** : From the year of opening account.
@ : Compounded interest rate.
@@ : Maturity Period has been raised to 6 1/2 years with effect from January 15, 2000 , 7 years 3 months after 1st day of March 2001, 7 years 8 months after 1st day of March 2002
££ : The scheme has discontinued with effect from July 17, 1999.
$ : One year 7.5%, two years 8%, three years 9%, five years 9%.
$$ : One year 7.25%, two years 7.5%, three years 8.25%, five years 8.5%.
$$$ : One year 6.25%, two years 6.5%, three years 7.25%, five years 7.5%.
Note : All the Postal Savings Schemes do not come under the purview of Wealth Tax Act from the assessment year 1993-94.
Sources : 1. National Savings Organisation, (2) Receipts Budget, Government of India, (3) Accountant General, Posts & Telegraph. |
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