SUKANYA SAMRIDDHI YOJNA A/C OPENING DETAIL AND PROCEDURE IN POSTOFFICE

SUKANYA SAMRIDDHI YOJNA A/C OPENING DETAIL AND PROCEDURE IN POSTOFFICE

postoffice-schemes Resultguide   July 26, 2016

FOR OPENING OF SUKANYA SAMRIDHHI ACCOUNT  VISIT YOUR NEAREST POST OFFICE AND FILL UP  CBS ACCOUNT OPENING FORM WITH KYC DOCUMENTS

SALIENT FEATURES ARE BELOW

SCHEME NAME -   SUKANYA SAMRIDHHI ACCOUNT  (SSA)

INTEREST RATE -  Rate of interest 8.6% Per Annum(w.e.f 1-4-2016),calculated on yearly basis ,Yearly compounded.

Amount for opening of account
and maximum balance that can be retained  

Minimum INR. 1000/-and Maximum INR. 1,50,000/- in a financial year. Subsequent deposit in multiple of INR 100/- Deposits can be made in lump-sum No limit on number of deposits either in a month or in a Financial year m No limit on number of deposits either in a month or in a Financial year

SALIENT FEATURES

 A legal Guardian/Natural Guardian can open account in the name of Girl Child.

• A guardian can open only one account in the name of one girl child and maximum two accounts in the name of two different Girl children.

• Account can be opened up to age of 10 years only from the date of birth. For initial operations of Scheme, one year grace has been given. With the grace, Girl child who is born between 2.12.2003 &1.12.2004 can open account up to1.12.2015.

• If minimum Rs 1000/- is not deposited in a financial year, account will become discontinued and can be revived with a penalty of Rs 50/- per year with minimum amount required for deposit for that year.

• Partial withdrawal, maximum up to 50% of balance standing at the end of the preceding financial year can be taken after Account holder’s attaining age of 18 years.

• Account can be closed after completion of 21 years.

• Normal Premature closure will be allowed after completion of 18 years /provided that girl is married.

FOR MORE INFORMATION VISIT YOUR NEAREST POST OFFICE OR VISIT WWW.INDIAPOST.GOV.IN

SUKANYA SAMRIDDHI ACCOUNT OPENING DETAIL AND PROCEDURE IN POSTOFFICE

SUKANYA SAMRIDDHI ACCOUNT OPENING DETAIL AND PROCEDURE IN POSTOFFICE

postoffice-schemes Resultguide   July 25, 2016

FOR OPENING OF SUKANYA SAMRIDHHI ACCOUNT  VISIT YOUR NEAREST POST OFFICE AND FILL UP  CBS ACCOUNT OPENING FORM WITH KYC DOCUMENTS

SALIENT FEATURES ARE BELOW

SCHEME NAME -   SUKANYA SAMRIDHHI ACCOUNT  (SSA)

INTEREST RATE -  Rate of interest 8.6% Per Annum(w.e.f 1-4-2016),calculated on yearly basis ,Yearly compounded.

Amount for opening of account
and maximum balance that can be retained  

Minimum INR. 1000/-and Maximum INR. 1,50,000/- in a financial year. Subsequent deposit in multiple of INR 100/- Deposits can be made in lump-sum No limit on number of deposits either in a month or in a Financial year m No limit on number of deposits either in a month or in a Financial year

SALIENT FEATURES

 A legal Guardian/Natural Guardian can open account in the name of Girl Child.

• A guardian can open only one account in the name of one girl child and maximum two accounts in the name of two different Girl children.

• Account can be opened up to age of 10 years only from the date of birth. For initial operations of Scheme, one year grace has been given. With the grace, Girl child who is born between 2.12.2003 &1.12.2004 can open account up to1.12.2015.

• If minimum Rs 1000/- is not deposited in a financial year, account will become discontinued and can be revived with a penalty of Rs 50/- per year with minimum amount required for deposit for that year.

• Partial withdrawal, maximum up to 50% of balance standing at the end of the preceding financial year can be taken after Account holder’s attaining age of 18 years.

• Account can be closed after completion of 21 years.

• Normal Premature closure will be allowed after completion of 18 years /provided that girl is married.

FOR MORE INFORMATION VISIT YOUR NEAREST POST OFFICE OR VISIT WWW.INDIAPOST.GOV.IN

HOW TO OPEN SCSS (Senior Citizen Savings Scheme) ACCOUNT IN CBS POSTOFFICE

HOW TO OPEN SCSS (Senior Citizen Savings Scheme) ACCOUNT IN CBS POSTOFFICE

postoffice-schemes Resultguide   July 25, 2016

Scheme Name -                                                              Senior Citizen Savings Scheme
Interest payable, Rates, Periodicity etc.-                From 1.4.2016, interest rates are as follows:-

                                                                                       8.6% per annum, payable from the date of deposit of 31st March/30th Sept/31st December in the first instance & thereafter, interest shall be payable on 31st March, 30th June, 30th Sept and 31st December.

Amount for opening of account 

and maximum balance that can be retained          There shall be only one deposit in the account in multiple of INR.1000/- maximum not exceeding INR 15 lakh.                                 

                                                                                             

Salient features including Tax Rebate   

• An individual of the Age of 60 years or more may open the account.

 • An individual of the age of 55 years or more but less than 60 years who has retired on superannuation or under VRS can also open account subject to the condition that the account is opened within one month of receipt of retirement benefits and amount should not exceed the amount of retirement benefits.

• Maturity period is 5 years.

• A depositor may operate more than one account in individual capacity or jointly with spouse (husband/wife).

• Account can be opened by cash for the amount below INR 1 lakh and for INR 1 Lakh and above by cheque only.

• In case of cheque, the date of realization of cheque in Govt. account shall be date of opening of account.

• Nomination facility is available at the time of opening and also after opening of account.

• Account can be transferred from one post office to another

• Any number of accounts can be opened in any post office subject to maximum investment limit by adding balance in all accounts.

• Joint account can be opened with spouse only and first depositor in Joint account is the investor.

 • Interest can be drawn through auto credit into savings account standing at same post office, through PDCs or Money Order.

• In case of SCSS accounts, quarterly interest shall be payable on 1st working day of April, July, October and January. It will be applicable at all CBS Post Offices.

*Quarterly interest of SCSS accounts standing at CBS Post offices can be credited in any savings account standing at any other CBS post offices.

• Premature closure is allowed after one year on deduction of an amount equal to1.5% of the deposit & after 2 years 1% of the deposit.

• After maturity, the account can be extended for further three years within one year of the maturity by giving application in prescribed format. In such cases, account can be closed at any time after expiry of one year of extension without any deduction.

TDS is deducted at source on interest if the interest amount is more than INR 10,000/- p.a.

Investment under this scheme qualifies for the benefit of Section 80C of the Income Tax Act, 1961 from 1.4.2007. 

FOR MORE INFORMATION CONTACT YOUR NEAREST POST OFFICE OR VISIT WWW.INDIAPOST.GOV.IN

HOW TO OPEN MIS (MONTHLY INCOME SCHEME) ACCOUNT IN CBS POSTOFFICE

HOW TO OPEN MIS (MONTHLY INCOME SCHEME) ACCOUNT IN CBS POSTOFFICE

postoffice-schemes Resultguide   July 24, 2016

VISIT YOUR NEAREST POST OFFICE AND FILL ACCOUNT OPENING FORM WITH KYC DOCUMENTS FOR OPEN ACCOUNT SALIENT FEATURES IS  BELOW:-

Scheme Name -                                                             Post Office Monthly Income Account Scheme
Interest payable, Rates, Periodicity etc.-                From 1.4.2016, interest rates are as follows:-

                                                                                            7.80% per annum payable monthly.

Amount for opening of account 
and maximum balance that can be retained          

                                                                                               In multiples of INR 1500/-

Maximum investment limit is INR 4.5 lakhs in single account and INR 9 lakhs in joint account.

An individual can invest maximum INR 4.5 lakh in MIS (including his share in joint accounts)

For calculation of share of an individual in joint account, each joint holder have equal share in each joint account.

Salient features      :-

 . Account may be opened by individual. 

· Account can be opened by cash/cheque and in case of cheque the date of realization of cheque in Govt. account shall be date of opening of account.

· Nomination facility is available at the time of opening and also after opening of account. 

· Account can be transferred from one post office to another. 

· Any number of accounts can be opened in any post office subject to maximum investment limit by adding balance in all accounts. 

· Account can be opened in the name of minor and a minor of 10 years and above age can open and operate the account. 

·Joint account can be opened by two or three adults. 
· All joint account holders have equal share in each joint account. 

· Single account can be converted into Joint and Vice Versa. 
· Minor after attaining majority has to apply for conversion of the account in his name. 

· Maturity period is 5 years from 1.12.2011. 

· Interest can be drawn through auto credit into savings account standing at same post office, through PDCs or ECS./In case of MIS accounts standing at CBS Post offices, monthly interest can be credited into savings account standing at any CBS Post offices. 

· Can be prematurely en-cashed after one year but before 3 years at the discount of 2% of the deposit and after 3 years at the discount of 1% of the deposit. (Discount means deduction from the deposit.)

· A bonus of 5% on principal amount is admissible on maturity in respect of MIS accounts opened on or after 8.12.07 and up to 30.11.2011. No bonus is payable on the deposits made on or after 1.12.2011

For  more information visit  nearest post office  or official website :- WWW.INDIAPOST.GOV.IN