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Savings Bank
Monthly Income Scheme
(MIS)
Recurring Deposit
Time Deposits
Senior Citizen
Savings Scheme (SCSS)
Public Provident
Fund
Kisan Vikas Patras
National Savings
Certificates (NSC)
Savings Schemes Chart
FAQ on Banking
Negative List for Sachaya Post
Negative List for Divisional Offices |
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 Post
Office Savings Schemes |
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Scheme |
Interest
(%) |
Minimum
Investment
(Rs.) |
Maximum
Investment
(Rs) |
Features |
Tax
Breaks |
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National Savings Certificate
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8.00a |
100 |
No limit |
6-year tenure |
Section 80C benefit |
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Public Provident Fund |
8.00b |
500 |
70,000 |
15-year term; tax-free returns |
Section 80C benefit |
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Kisan Vikas Patra |
8.41b
|
100 |
No limit |
Money doubles in 8 years, 7 months |
No tax benefit |
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Monthly Income Scheme |
8.00 |
1,500 |
Single A/c: 4.5 lakhs
Joint A/c: 9 lakhs |
6-year tenure; monthly returns
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No
tax benefit
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Time Deposits |
6.25-7.50 |
200 |
No limit |
Available for 1, 2, 3, 5 years |
No tax benefit |
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Recurring Deposits |
7.50c
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10 |
No limit |
5-year tenure |
No tax benefit |
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Senior Citizens Saving Scheme |
9.00d |
1,000 |
15 lakhs |
5 year tenure; minimum age 55; also available with public
sector banks |
No tax benefit |
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Savings Bank Account |
3.5 |
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Single A/c: 1 lakh
Joint A/c: 2 lakhs |
Any individual can open an account;
Cheque facility available. |
No tax benefit |
Sec
80C benefit:
Investments up to Rs 1 lakh in specified securities (maximum of Rs
70,000 in PPF) qualify for deduction
a
Compounded half-yearly
b
Compounded yearly
c
Compounded quarterly
d
Payable quarterly |
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