All Postal Schemes

For an Investment
of over Rs. 50,000/-
PAN number
is compulsory

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Government’s small savings schemes have been started with a view of social development as well as the financial safety of public money. These schemes offer attractive Interest along with relief in Income Tax and other benefits.

On small savings the state receives funds from the Center as a loan. This fund is utilized in the state’s development schemes. Thus small savings investors also participate in the development of the state.

SMALL SAVINGS SCHEMES:

Some important small savings schemes are as follows.

National Saving Certificates (eighth category)
Kisan Vikas Patra
Post Office Time Deposit
FiveYearsPostOfficeRecurringDepositAccount
Post Office Monthly Income Scheme
Post Office Savings Account

Where will you invest ?

One can invest in Post Offices in the Gujarat State. Investments in P.P.F. can also be done in the Nationalised banks in the state.

6 Years National Savings Certificates (NSC) ( Eighth Issue)

Available in the values of Rs. 1000, 5000 and 10,000
On maturity after 6 years yearly for Rs. 100 you get Rs. 160.10
Relief in Income Tax and Property Tax as per conditions.
Every year the interest is reinvested as capital and becomes eligible for tax relief.
Investment can be done by trust.
Can appoint nominee.
Can procure loan from bank against them.
The certificate can be encashed only on maturity.

COMMISSION : 0.75 %

Kisaan Vikas Patra (KVP)

The amount is doubled after 8years and seven months means you are eligible to get Rs. 2000/- for every Rs 1000/- invested.
Can be purchased in Rs. 1000/-, 5000/- and 10,000/- amount.
There is no upper limit to investment.
Can appoint nominee
After two and half years can be withdrawn in the post Office.
In the event of death amount can be withdrawn before the investment tenure.

For the value of Rs. 1000/-

Period	Amount Recievable	Period	Amount Recievable
After 2 ½ years	Rs. 1170.50	After 5 ½ years	Rs. 1488.49
After 3 years	Rs. 1207.95	After 6 years	Rs. 1543.30
After 3 ½ years	Rs. 1267.19	After 6 ½ years	Rs. 1649.13
After 4 years	Rs. 1310.80	After 7 years	Rs. 1713.82
After 4 ½ years	Rs. 1355.90	After 7 ½ years	Rs. 1781.06
After 5 years	Rs. 1466.63	Before 8 years & 7 months	Rs. 1850.93

COMMISSION : 0.75 %

POST OFFICE MONTHLY SCHEME

Money can be invested in the amount of Rs 1000/- or its multiples.
In individual case the limit is Rs. 3 Lacs, In Joint account limit Rs. 6 Lacs.
Monthly disbursement of the interest at 8% per year interest rate.
On maturity 10% bonus on the deposit amount.
Tax free interest under section 80 L.
Appointment of nominee & Passbook facility.
After 3 years of opening the account, if the account is closed, no deduction in the invested amount will be done. But before 3 years if the account is closed a deduction of 5% will be done from the invested amount.
Facility of transferring account from one Post Office to another Post Office.

COMMISSION : 0.75%

FIVEYEARLY POST OFFICE RECURRING DEPOSIT ACCOUNT (R/D)

Minimum Rs. 10/- per month and every month in the multiple of Rs. 5/- can be deposited.
In the account of Rs. 10/- after five years on maturity Rs. 728.90
No upper limit to investment.
The account can be closed after 3 years of opening the account. Interest at Post Office Savings account rate.
Tax deductible under section 80 L.
Six or Twelve month’s amount can be deposited in advance.
After opening the account 50% amount of the deposit can be withdrawn only once.

Amount receivable under Five Yearly Recurring Deposit Account

Sr.No.	Monthly Deposited Amount Rs.	Amount Recievable On Maturity Rs.
1.	10.00	728.90
2.	50.00	3,644.50
3.	100.00	7289.00
4.	150.00	10,933.50
5.	200.00	14,578.00
6.	250.00	17,222.50
7.	300.00	21,867.00
8.	350.00	25,511.50
9.	400.00	29,156.00
10.	450.00	32,800.50
11.	500.00	36,445.00
12.	550.00	40,089.50
13.	600.00	43,734.00
14.	650.00	47,378.50
15.	700.00	51,023.00
16.	750.00	51,023.00
17.	800.00	58,312.00
18.	850.00	61,956.50
19.	900.00	65,601.00
20.	950.00	69,245.50
21.	1,000.00	72,890.00
22.	1500.00	1,09,335.00
23.	2000.00	1,45,780.00
24.	2500.00	1,82,225.00
25.	3000.00	2,18,670.00
26.	3500.00	2,55,115.00
27.	4000.00	2,91,560,00
28.	5000.00	3,64,450.00

COMMISSION : 0.30%

POST OFFICE TIME DEPOSIT (TD) :

Investment for 1, 2, 3, and 5 years in the multiple of Rs. 50/-
Rate of Interest ( Interest calculated every 3 months )

YEAR	% (From 1 – 3 – 2003 )	YEAR	% (From 1 – 3 – 2003 )
1 year	6.25 %	3 years	7.25 %
2 years	6.50 %	5 years	7.50 %

Proof of Annual interest available for Income Tax.
After one year of opening the 2, 3, 5 years accounts, the account can be closed with proper withdrawal
Facility of pass book and appointment of nominee.
Account can be transferred from one post office to another post office.
The option of depositing the interest earned in the post office savings account.
The account can be closed without interest between 6 months to 1 year from the investment date.
Account can be hypothecated.
Free from Property Tax.

COMMISSION : 0.75%