| 1. Who can invest? |
- An individual (Above 18 years)
- Two / three individuals in joint names.
- A minor who has attained the age of 10 years.
- A guardian on behalf of a minor/ a person of unsound mind.
|
| 2. How much to invest ? |
Minimum - Rs. 1500/-
Maximum -
- Rs. 4.50 lacs for single account.
- Rs. 9.00 lacs for joint account.
|
| 3. Where to Invest ? |
any head post office / sub-post office by cash, demand
draft, local cheques. |
| 4. Rate of Interest & Bonus |
8 % per annum payable monthly |
| 5. Duration |
6 years account |
| 6. Withdrawals |
i. On Maturity with bonus
ii. Premature
- After one year with deduction of 2% of deposited amount.
- After three years with 1% deduction.
|
| 7. Nomination facility |
Available |
| 8. Income Tax benefits |
No Tax deducted at source
|
| 9. Other facility |
Monthly interest can be credited to the savings bank
account in the same post office. |
| 10. Bonus |
5% Maturity Bonus w.e.f. 08-12-2007 |
