| 1. Duration |
6 years account |
| 2. Rate of
Interest |
(i). 8% per annum
payable monthly |
| 3. Where
to invest ? |
any head post office / sub-post
office by cash, demand draft, local cheques. |
| 4. Who can
invest ? |
(i). An individual
(Above 18 years)
(ii). Two / three individuals in joint names.
(iii). A minor who has attained the age of 10 years.
(iv). A guardian on behalf of a minor/ a person
of unsound mind. |
| 5. How much
to invest ? |
Minimum - Rs. 1500/-
Maximum - (i). Rs. 4.50 lacs for single account
(ii). Rs.
9.00 lacs for joint account. |
| 6. Withdrawals |
(i). On Maturity
with bonus
(ii). Premature
(a). After
one year with deduction of 2% of deposited amount.
(b). After
three years 1% deduction. |
| 7. Nomination |
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 |
