April 06, 2017

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Postal Savings - Interest rate for the period 01.04.2017 to 30.06.2017

Written By Admin on Apr 6, 2017 | April 06, 2017

Government of India, Postal Department interest rate for the perio01.04.2017 to 30.06.2017



Post office investment Schemes

Rate of
Interest in
%
Minimum/Maximu m
Deposit Amount in Rs.

Maturity Period / Amount in Rs.


Remarks

SB Account
(SB)

4%

Min Rs50
Max unlimited
No maturity period. Every year Interest will be paid as
per their savings.
ATM facility available. No service charge for PO ATM
withdrawal. Free SMS service.

RD Account
(RD) 5Years

7.2%

Monthly Min Rs.10
Maximum No Limit
For Monthly Rs.1000 investment Maturity
amount is Rs.72315
Monthly Recurring Deposit. After 3 years Premature closure
is allowed.

Monthly Income Scheme (MIS) 5
Years



7.6%
Minimum Multiples of Rs.1500/-
Maximum
Rs.4.5 lakh for single
Rs.9 lakhs for joint


For Rs.100500/- Monthly interest Rs 637

Monthly interest can be withdrawn.
After 2/3 years premature closure is allowed with 2%/1%
deduction.
1 Year Time Deposit (1year TD)
6.9% (quarterly compound)
Minimum Multiples of Rs.200/ Maximum No limit

For Rs.10000 investment
Maturity amount Rs.10708
1 year Fixed deposit. Can be closed prematurely after 6 months with SB rate of interest
2 Years Time Deposit (2Years TD)

7.0% (quarterly compound)

Minimum Multiples of Rs.200/ Maximum No limit

For Rs.10000 investment
Maturity amount Rs.11437

2 years Fixed deposit. Can be closed prematurely after 6 months with SB interest
3 Years
Time Deposit (3Years TD)

7.2% (quarterly compound)

Minimum Multiples of Rs.200/ Maximum No limit

For Rs.10000 investment
Maturity amount Rs.12219

3 years Fixed deposit. Can be closed prematurely after 6 months with SB interest
5 Years Time Deposit
(5Years TD)

7.7% (quarterly compound)

Minimum Multiples of Rs.200/ Maximum No limit

For Rs.10000 investment
Maturity amount Rs.13963
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)


8.4%
Multiples of
Rs.1000/- Maximum Rs.15 lakhs

For Rs.1 lakh
Rs2025 interest for every 3 months
For retired govt employees and above 60 years age citizens.
Investment can be claimed
under 80c
Sukanya
Samridhi
Account
(For below
10years age girl child)



8.4%

Minimum Rs.1000/- Deposit Multiples of Rs.100. Maximum Rs.1.5 lakhs for the F.Y
If monthly contribution is
Rs1000/ for 14 years total contribution is 168000/-
Maturity value would be
approximately Rs570205 (approximately)
Depositing period 14 years.
Maturity21 years.
New scheme launched by the Govt of India, to the welfare of girl children. Can claim IT exemption under 80c

PPF Period 15 years


7.9%
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
Rs337135 (approximately)


For Savings and Income tax concession purpose

Kisan Vikas
Patra (KVP)
100 months
7.6% Doubles in 9
years 5 months

Multiples of Rs.1000/ Maximum No limit

For 1lakh investment, maturity Rs.2 Lakhs

Investment will be doubled in
114 months
National
Savings Certificate (NSC)
5 years

7.9% (quarterly compound interest)


Minimum Rs.100/ Maximum No limit


For Rs.10000 Maturity amount Rs.14625


For Income tax concession purpose


Compiled by Shri. K.Kalimuthu Postmaster Grade I, Subramaniapuram LSG S.O, Madurai. 625011. Mobile 9566330927.


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+ comments + 2 comments

April 06, 2017

Sir
RD maturity amount is Rs.72,314/- for Rs.1000/-.

TD interest amounts shown in the table for 2,3,5 year TD schemes are different. They should be in multiples of interest amount in respect of 1 year TD.

SCSS Quarterly Interest for Rs.100000/- should be Rs.2100/- instead of Rs.2025/- as shown by you.

SSA contribution/ Depositing years is 15 whereas it has been noted as 14 years in table

KVP maturity period has been shown as 100 months and 9 Years-4 months. But maturity period is 113 months (9 Years-5 months)

KVP can be purchased in multiples of Rs.1000/- only whereas in your table, it is wrongly shown as multiples of Rs.500/-.

For NSC, interest rate is yearly compound. But in table, it is shown as "Quarterly compound".

PLEASE POST ONLY CORRECT DETAILS IN THE BLOG. LOT OF MISTAKES ARE IN JUST SINGLE PAGE INFORMATION.

April 10, 2017

For KVP maturity period is 113 months not 114 . KVP can be purchased only as the multiples of 1000 not 500. SCSS interest for 100000 as per new rate is 2100 not 2025.

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