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CHANGES IN POSTAL SAVINGS SCHEMES W.E.F 01/12/2011

Written By Admin on November 25, 2011 | Friday, November 25, 2011

SB ORDER dt 24.11.11
SCHEME
FEATURE
EXISTING
REVISED w.e.f. 01.12.2011
REMARKS AND
ACTION TO BE TAKEN
22
KVP
CERTIFICATE ISSUE
Available
Discontinued
Existing stock to be returned from SO to HO and from HO to CSD after 30.11.2011
23
NSC
PERIOD
6 year
5 year
Rubber stamp to be affixed in NSCs about new period and maturity value.
MATURITY VALUE
Rs.160.10 for Rs.100 Dn
Rs.150.90 for Rs.100 Dn
10 YEAR NSC IX ISSUE
Not Available
Available
Features not mentioned now.
24
PPF
MAXIMUM SUBSCRIPTION LIMIT
Rs.70,000
per annum
Rs.1,00,000 per annum
INTEREST RATE
8 % p.a
8.6 % p.a
New interest applicable for balance at credit in account from 01.12.2011
LOAN INTEREST
1% p.a
2% p.a
1 % p.a Int will continue for Loan taken before 30.11.11
25
MIS
PERIOD
6 year
5 year
Rubber stamp to be affixed in PB about the new features
INTEREST RATE
8 % p.a
8.2 % p.a
BONUS
5 % on pri.
Discontinued
26
SB
INTEREST RATE
3.5 % p.a
4% p.a
New interest applicable for balance at credit from 01.12.2011
27
TD
PMC (from 6 months to 1 year)
No interest
SB Interest
For accounts closed on or after 01.12.2011
PMC deduction
2 % Int less
1 % Int less
Refer Rule 8 and rate table in Rule 7 of POTD rules
1 TD
INTEREST
6.25 % Q.C.I
7.7 %   Q.C.I
Interest applicable for accounts opened on or after 01.12.11
(Q.C.I-Quarterly Compounded Interest)
2 TD
INTEREST
6.5 %   Q.C.I
7.8 %   Q.C.I
3 TD
INTEREST
7.25 % Q.C.I
8.0 %   Q.C.I
5 TD
INTEREST
7.5 %   Q.C.I
8.3 %   Q.C.I
28
RD
MATURITY VALUE
Rs.728.90 for Rs.10- Dn
Rs.738.62 for Rs.10- Dn
Proportionate value for other Denominations
29
AGENT
COMM 
PPF
1 %
Discontinued
Applicable for deposits made on or after 01.12.11
SCSS
0.5 %
Discontinued
MIS,TD,NSC
1 %
0.5 %
RD (MPKBY)
4 %
4 %
Points to remember for Cheque Deposits:
  • Investment in KVP through Cheque should not be accepted w.e.f. 28.11.2011. If any cheque presented before 28.11.2011 is cleared after 30.11.2011,  the amount should be refunded to depositor. 
  • After 25.11.2011 while accepting cheques for opening MIS, rubber stamp should be affixed on counterfoil “No Bonus shall be payable if cheque is credited to Govt. Account after 30.11.2011 
  • Rate of interests applicable according to the Date of Clearance of cheque.
Click here to view/download the SB orders in PDF...

Courtesy : http://aipeup3cuddalore.blogspot.com 
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+ comments + 3 comments

Anonymous
November 26, 2011 at 9:50 AM

SIR....TD COMMISSION RATE WILL REMAIN SAME FOR BPMS?

Anonymous
December 1, 2011 at 11:05 AM

very informative thanks

Anonymous
December 22, 2011 at 12:21 PM

Is there any patch regarding RD Deposit i.e. of 1 to 15 for account opened during the period or 16 to 30 for account opened during the period after 16 ?

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