GOVERNMENT OF INDIA,DEPARTMENT OF POSTS,
POSTAL SAVINGS SCHEMES
Schemes
SB
Rate of Interest
4%
6.2%
Recurring Deposit
5 years
Min/Max Deposit
Min Rs.500/Max No limit
MinRs.100/Max NO limit
7.4%
Min Rs.1000/Max Rs.9 lakhs for
single.
1yr Time Deposit
6.8%
Min Rs.1000/Max No limit
2yr Time Deposit
6.9%
Min Rs.1000/Max No limit
3yr Time Deposit
7.0%
Min Rs.1000/Max No limit
5yr Time Deposit
7.5%
Min Rs.1000/Max No limit
Sukanya Samridhi
Account (SSA)
21 Years
For girl child below
10years age
8.0%
MinRs.250/MaxRs.1.5 lakhs
Per financial year
7.1%
MinRs.500/Max Rs.1.5 lakhs per
financial year
7.5%
Min Rs.1000/Max No limit
Monthly Income
Scheme
5 years
PPF Public Provident
Fund
15years
Kisan vikas Patra KVP
123 Months
Remarks
ATM/NEFT/RTGS
facility available.
After 3 years
Premature closure is
allowed with SB rate
of int.
After one year loan is
admissible
@50%savings
Monthly interest can
be withdrawn.
After 1or 3 years PMC
is allowed with 2% or
1%deduction
Premature closure is
available after 6
months with sb rate of
interest
Premature closure is
available after 6
months with sb rate of
interest
Premature closure is
available after 6
months with sb rate of
interest
Premature closure is
available after 6
months with sb rate of
interest
Can claim IT
exemption under 80C
Deposit period -15
years.Maturity 21
years or else after
marriage.
Can claim IT
exemption under 80c.
Can claim IT
exemption under 80c
Investment will be
doubled .
National Saving
Certificate NSC -5
years
Mahila Samman
Saving Certificate- 2
years
Only for girl/women
7.7%
Min Rs.1000/Max No limit
Can claim IT
exemption under 80c
7.5%
Min-Rs.1000/Max-Rs.200000/-
Any number of
accounts can be
opened subject to
overall max
amtRs.200000/- with a
time gap of 3 months.
PMC available afer 6
months from the dt of
opening @5.5%
Eligible withdrawal 40% of deposit amt
after 1 year.
POSTAL LIFE INSURANCE :
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Low Premium, High bonus
Minimum age limit to join in PLI scheme is 19 and Maximum age limit is 55.For anticipated
endowment assurance/Joint Life Policy/Children Policy the maximum age limit is 45.
Insurance Coverage: Immediate Insurance coverage in case of death of Insurant(Sum
Assured+ Bonus accrued)
Income tax rebate: Total premium recovered will get Income Tax Rebate under sec 80C.The
entire maturity amount is totally non-taxable income under section 10D.
Loan facility :Loan can be availed after 3 years .Interest only 10%pa
Surrender –PLI and Whole life policies can be surrendered after 36 months. However Bonus
will be taken for surrender calculation only in respect of policies of more than 5 years.
Rebate on advance payment
1% rebate for 6 months advance premium .2% rebate for 12 months advance premium
Payment paying mode: Salary recovery/through passbook of online
https://pli.indiapost.gov.in
Guarantee for investment: Policy document will be given in the name of entered a life
insurance contract with “PRESIDENT OF INDIA”
GST applicable as per the rate approved by GST council.GST will be reduced to 50% after
payment of first 12 month premium.