| 1. Who can invest? |
- An individual(Above 18 years)
- A minor who has attained the age of 10 years.
- A guardian on behalf of a minor / a person of unsound mind.
- Two individuals
|
| 2. How much to invest ? |
- Minimum - Rs. 200/-
- Maximum – No limit
|
| 3. Where to Invest ? |
In any Head post office/Sub post office |
| 4. Duration & Rate of interest |
- One year 6.25%
- Two year 6.50%
- Three year 7.25%
- Five year 7.50%
|
5. Withdrawals
(I). On Maturity
(II). Premature
|
Principal – Only after the expiry of the period for which it is made.
Interest - At the end of each year during the period of deposit.
(I). After 6 months upto one year without interest
(II). After one year, interest shall be paid two percent less.
|
| 6. Nomination facility |
Available |
| 7. Tax benefits |
- No deduction of income tax at source.
- Tax exemption on Five Years Time Deposit Account U/S 80C of the IT Act.
|
