Government of India, Postal Department savings and returns as per the
interest rates (revised) for the Period 01.01.2018 to 30.09.2018
|
Post office |
Rate of Interest in % |
Minimum/Maximum Deposit Amount in Rs. |
Returns in Rs. (Approximately) |
Remarks |
|---|---|---|---|---|
|
|
||||
| SB Account (SB) |
4% | Min Rs.50 Max No limit |
No maturity period. Every year Interest will be paid as per their savings. | ATM facility available. Can withdraw from bank ATM too. No service charge for PO ATM withdrawal. Free SMS service. Interest upto Rs.10000 tax free |
| RD Account (RD) Wears |
6.9% Quarterly Compound |
Monthly Min Rs.10 Maximum No Limit |
For Monthly Rs.1000 investment, total deposit Rs.60000, Maturity amount is Rs.71743 |
Monthly Recurring Deposit. After 3 years Premature closure is allowed. |
| Monthly Income Scheme (MIS) 5 Years | 7.3% Monthly and paid |
Minimum Multiples of Rs.100/- Maximum Rs.4.5 lakh for single Rs.9 lakhs for joint |
For Rs.1,00,000/- Monthly interest Rs. 608 |
Monthly interest can be withdrawn. After 1/3 year premature closure is allowed with 2%/1% deduction. |
| 1 Year Time Deposit (1year TD) |
6.6% (quarterly compound) |
Minimum Multiples of Rs.100/ Maximum No limit |
For Rs.10000 investment Maturity amount Rs.10677 | 1 year Fixed deposit. Can be closed prematurely after 6months with SB rate of interest |
| 2 Years Time Deposit (2Years TD) |
6.7% (quarterly compound) |
Minimum Multiples of Rs.100/ Maximum No limit |
For Rs.10000 investment Maturity amount Rs.11374 |
2 years Fixed deposit. Can be closed prematurely after 6 months with SB interest |
| 3 Years Time Deposit (3Years TD) |
6.9% (quarterly compound) |
Minimum Multiples of Rs.100/ Maximum No limit |
For Rs.10000 investment Maturity amount Rs.12124 |
3 years Fixed deposit. Can be closed prematurely after 6 months with SB interest |
| 5 Years Time Deposit (Wears TD) |
7.4% (quarterly compound) |
Minimum Multiples of Rs.100/ Maximum No limit |
For Rs.10000 investment Maturity amount Rs.13805 |
5 years Fixed deposit. Can be closed prematurely after 6
months with SB interest. Can claim IT exemption under 80C |
| Senior Citizen Scheme (5 years) | 8.3% uarterly quarterlyand paid |
Multiples of Rs.1000/- Maximum Rs.15 lakhs |
For Rs.11akh Rs.2075 interest for every 3 months |
For retired defence personnel, 50 years above other citizens 60yrs and above can open SCS A/Cs. Interest Upto Rs.50000 tax free |
| Sukanya Samridhi Account (21 years)
For girl child |
8.1% | Minimum Rs.250/- Deposit Multiples of Rs.100. Maximum Rs.1.5 lakhs for the financial year. |
If monthly contribution is Rs1000/ for 15 years total contribution is 180000/- Maturity value would be approximately Rs5,26,991) for 8.1 % interest after 21 years period. |
Depositing period 15 years. Maturity period 21 years or else after marriage. Can withdraw 50% amount after 10std of girl child for her studies. New scheme launched by the Govt of India, to the welfare of girl children. Can claim IT exemption under 80c |
| PPF Periodl5 years, can be opened for boy child |
7.6% | Minimum Rs.500/- Deposit Multiples of Rs.100. Maximum Rs.1.5 lakhs for the F.Y |
If monthly contribution is Rs1000/ for 15 years total contribution is 180000/- Maturity amount is Rs3,28,862(approx) for 7.6% interest |
For recurring Savings and Income tax concession purpose |
| also | ||||
| Kisan Vikas Patra (KVP) 118 months |
7.3% Doubles in 9 years 10 months |
Multiples of Rs.1000/ Maximum No limit |
For llakh investment, maturity Rs.2 Lakhs |
Investment will be doubled in 118 months |
| National Savings Certificate (NSC)5 years |
7.6% (Annually compound interest) |
Minimum Rs.100/ Maximum No limit |
For Rs.10000 Maturity amount Rs.14423 |
For fixed deposit and Income tax concession purpose |
Compiled by Shri. K.Kalimuthu, Post Master Grade II, General Secretary, All India Association of Postal Supervisors, Gopalapuram Post office, Chennai 600086. Chennai area people, firms and companies may contact myself through Mobile No. 9566330927 (1000 to 1600hrs) to open accounts to all. Others PI contact nearest post office for more details.