Post
Office Schemes |
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Features |
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Returns |
P. O. Recurring Deposit provides an interest rate of 9.0%
which is compounded quarterly.
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Investment Limitation |
Min Amount Rs.
10/-
Max Amount No Limit
Denominations Rs. 5/-
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Scheme Availability |
All through the year.
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Mode of Operation |
- Single
- Joint (Two or more)
- Minor with parent/guardian
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Tenure of Investment |
P. O. Recurring Deposit has an investment period of 5 years.
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Nomination |
Facility is there at the time of opening the account or anytime
during the tenure of the account.
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Premature Encashment |
Is permitted if deposit is more than one year old. The interest
rate applicable will be that which is prevailing at that time.
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Maturity |
The certificate is to be discharged at the back.
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Loss of Passbook |
A pass book is issued at the time of opening the account.
If there is a loss, theft or the passbook is mutilated, a duplicate is issued
on a charge.
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Tax Benefits |
Tax benefits can be availed under section 80L. No Tax benefits
are provided under section 88.
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Tips for Investing |
- A P. O. Recurring Deposit is a novel way of saving a fixed sum every
month for a particular period which will fetch the investor a large
sum after 5 years.
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