FD & BONDS  
Corporate Deposits
Infrastructure Bonds
Post Office
Post Office MIS
6 years National Savings Certificate 8th Issue
Kisan Vikas Patra
Post Office Time Deposit Scheme
Senior Citizens Scheme
Public Provident Fund
54 EC Bonds

----Salient Features----
  • Minimum amount of deposit is Rs.200/-.
  • No maximum limit.
  • Account can be closed after 6 months but before one year without any interestp.
  • Facility of redeposit on maturity of an account.
  • No interest is payable on undrawn interest amount.
  • Account can be opened by an individual, two adults jointly and minor through guardian
  • A Minor who has attained the age of 10 years can open the account in his/her own name to be operated directly.
  • Non Resident Indian / HUF can not open the account.
  • Any number of accounts can be opened.
  • Two, three and Five years accounts can be closed after one year at a discounted rate of interest.
  • Deposits not drawn on maturity are eligible to saving account interest rate for a maximum period of two years.
  • Account can be pledged as security against a loan to banks/ Government institutions.
  • Accounts are transferable from one Post office to any Post office in India.
  • Rebate under section 80-C is not admissible.
  • Interest income is taxable.
  • Deposits are exempt from wealth tax.
  • No T.D.S.
  • Nomination facility available.
 
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