|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/-
- 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
|| 6 years account
i. On Maturity with bonus
- After one year with deduction of 2% of deposited amount.
- After three years with 1% deduction.
|7. Nomination facility
|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.
|| 5% Maturity Bonus w.e.f. 08-12-2007