Post Office Savings Scheme 2021: Post Office Savings Scheme (PPF, NSC, FD Interest Rate) Application Form

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Post Office Savings Scheme Application | Post Office Saving Scheme Application Form | Post Office Savings Scheme (PPF, NSC, FD Interest Rate) | Post Office Saving Scheme

Post Office Savings Scheme 2021: Post Office Savings Scheme (PPF, NSC, FD Interest Rate) Application Form, What is Post Office Savings Scheme Scheme, Purpose of Post Office Saving Scheme, Post Office Saving Scheme 2021, Post Office Saving Scheme 2021, Post Office Saving Schemes Taxability, Post Office Saving Schemes Taxability, Types of Post Office Saving Schemes, Post Office Savings Scheme Application | Post Office Saving Scheme Application Form | Post Office Savings Scheme (PPF, NSC, FD Interest Rate) | Post Office Saving Scheme

As you all know, like the bank, the post office in our country also runs many savings schemes. These savings schemes make it easy for people to save money. Today we are going to provide you all the important information related to Post Office Saving Scheme 2021 through this article. Such as the procedure to apply for Post Office Saving Scheme, Purpose, Types of Post Office Saving Scheme, Eligibility, Benefits etc. If you want to know all the important information related to Post Office Saving Scheme 2021, then you are requested to read our article till the end.

Table of Contents

What is Post Office Savings Scheme Scheme ?

You must have heard the name of India Post. India Post controls the postal chain of the country. But apart from controlling the postal chain, India Post also runs a number of deposit saving schemes for investors. Which we know as Post Office Saving Scheme or Post Office Saving Scheme. Investing in Post Office Savings Scheme offers high interest rate as well as tax benefits to the investors. Tax exemption is given under section 80C of the Income Tax Act. The post office runs many savings schemes. Such as Public Provident Fund, Sukanya Samriddhi Yojana, National Saving Certificate etc. We will tell you about all these schemes in this article.

Purpose of Post Office Saving Scheme

The main objective of the Post Office Saving Scheme is to promote the spirit of saving among the people. For this, the government has made a provision of high interest rate as well as tax exemption for investors investing in Post Office Saving Scheme 2021 . Investors will become financially strong through this scheme. There is not only one but many schemes in the Post Office Savings Scheme, which has been started keeping in mind all the sections of the people. Efforts have been made to have some scheme for all sections of the people. So that people invest in maximum post office savings scheme.

Key Highlights of Post Office Saving Scheme 2021

What is the article aboutPost office savings scheme
Who launched the schemeIndian government
BeneficiaryCitizens of India
ObjectiveTo promote the habit of saving among the people by providing high interest rate and tax exemption.
Official websiteClick here
Year2021
Scheme available or notAvailable

Post Office Saving Scheme 2021

The Central Government has revised the interest rates of Post Office Savings Schemes for the quarter from 1st July 2020 to 30th September 2020. The new interest rates on post office schemes have been kept unchanged for this quarter. Checking new interest rates for Time Deposit (TD), Public Provident Fund (PPF), Sukanya Samriddhi Account, Senior Citizen Savings Scheme (SCSS), Recurring Deposit (RD), National Saving Certificate (NSC), Kisan Vikas Patra (KVP), Monthly Income Scheme (MIS), PO Savings Account Schemes. People of the country can check the Post Office Savings Schemes New Interest Rates Table 2021 which are applicable for the period from 1st July 2020 to 30th September 2020 at various post offices. Shows the current rate of plans of Rs.

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Post Office Saving Schemes Taxability

Types of SchemesTaxability
Kisan Vikas PatraUnder Section 80C of the Income Tax Act, investment up to a maximum of ₹150000 is exempted.
Post office time depositUnder Section 80C of the Income Tax Act, a tax deduction of 1.5 lakh rupees per year will be provided.
Post Office Recurring Deposit Account 5 yearsThe interest earned under this scheme is fully taxable.
Post office savings accountThe interest earned and maturity amount is tax free under section 80C of the Income Tax Act. And there is also a tax deduction of one and a half lakh rupees.
Senior Citizen Saving SchemeTax exemption up to ₹150000 under section 80A and TDS rebate up to ₹50000 on interest.
Sukanya Samriddhi AccountTax exemption up to ₹50000 on interest.
Post Office Monthly Income SchemeThere is no exemption under this scheme and the interest is also fully taxable.
National savings certificateTax exemption of 1.5 lakh rupees under section 80C.
Public provident fundTDS earned on interest but maturity amount tax free.

Post office saving scheme fee

Issue of duplicate passbook₹50
Taking statement of account or taking deposit receipt₹20
Issuance of passbook in lieu of lost or mutilated certificate₹10
Cancellation of enrollment₹50
Transfer of account₹100
Pledge of account₹100
Issue of check book in savings bank accountNo fee for 10 cheques after that ₹2 per cheque.
Charges on Dis-Owner of Check₹100

Post Office Saving Scheme Minimum and Maximum Limit

Scheme NameMinimum limitCeiling
Post office savings account₹500no maximum limit
National Savings Recurring Deposit Account₹100no maximum limit
National Savings Time Deposit Account₹1000no maximum limit
National Savings Monthly Income Account₹1000₹ 450000 in single account and ₹ 900000 in joint account
Senior Citizen Savings Scheme Account₹1000₹ 1500000
Public Provident Fund Account₹500₹ 150000 in 1 year
National Savings Certificate Account₹1000no maximum limit
Kisan Vikas Patra Account₹1000no maximum limit
Sukanya Samriddhi Account₹ 250₹ 150000 in 1 year

Premature closure period

Names of SchemesPeriod
Post office savings account
National Savings Recurring Deposit Account3 years after account opening
National Savings Time Deposit Account6 months after account opening
National Savings Monthly Income Account1 year after account opening
Senior Citizen Savings Scheme AccountAccount can be closed at any time
Public Provident Fund Account5 years after account opening
Sukanya Samriddhi Account5 years after account opening
National savings certificate5 years after account opening
Kisan Vikas Patra2 years 6 months after investing

Post Office Saving Scheme Majority

Names of SchemesMaturity
Post office savings account
National Savings Recurring Deposit Account5 years after account opening
National Savings Time Deposit Account1 year, 2 years, 3 years, 5 years (depending on the situation)
National Savings Monthly Income Account5 years after account opening
Senior Citizen Savings Scheme Account5 years after account opening
Public Provident Fund Account15 years after account opening
Sukanya Samriddhi AccountAfter 15 years from the date of investment
National savings certificate5 years after the date of investment
Kisan Vikas PatraTo be determined by the Ministry of Finance from time to time

Types of Post Office Saving Schemes

Post Office Saving Account :

Post Office Saving Account is like a bank account. The interest rate in Post Office Savings Account has been kept at 4%. Which is fully taxable. It is mandatory to keep a minimum amount of ₹ 50 in Post Office Savings Account.

Post Office Time Deposit Scheme:

There are different tenure options to invest in Post Office Time Deposit Scheme. The minimum amount to invest in the scheme has been fixed at ₹200. The account opened under this scheme can be transferred to someone else. This account is divided into four working hours. If you make a deposit of 1 year, then the interest rate of 5.5% has been kept, for 2 years also the interest rate of 5.5 percent has been kept and for 3 years also the interest rate of 5.5 percent has been kept. But if you make a deposit for 5 years, then the interest rate of 6.7% has been kept.

Sukanya Samriddhi Scheme :

This scheme has been kept to benefit the girls. An interest rate of 7.6 percent has been fixed under this scheme. And the minimum amount to invest in this scheme is ₹ 1000 and the maximum amount is ₹ 1,50,000. which is for one circular year. Under this scheme, it is mandatory to invest a minimum amount of 15 years from the date of account opening.

National Saving Certificate:

The maturity period for investing in this scheme is 5 years. And in this scheme, an interest rate of 6.8 percent has been fixed for the investors. The minimum amount to invest in this scheme has been fixed at ₹ 100 and no maximum amount has been fixed.

Public Provident Fund:

Public Provident Fund is a long term investment scheme. The duration of which is 15 years. The interest rate of 7.1 percent has been fixed under this scheme. The minimum amount to invest in this scheme is ₹500 and the maximum amount is ₹1,50,000.

Senior Citizen Saving Scheme :

This scheme is for the investors who are above 60 years of age. The interest rate of 7.4 percent has been fixed under this scheme. The maximum amount of investment in this scheme has been fixed at Rs 15,00,000.

Kisan Vikas Patra :

This scheme is for the farmers of the country. An interest rate of 6.9 percent has been fixed under this scheme. The tenure of this scheme is 9 years 4 months. The minimum amount to invest in this scheme is ₹ 1000 and no maximum amount has been fixed.

Post Office Recurring Deposit:

It is a monthly investment plan with a tenure of 5 years. The investor has to invest every month in this scheme. The interest rate under this scheme has been kept at 5.8 percent. The minimum amount to invest in this scheme has been kept at ₹10 and no maximum amount has been fixed.

Post Office Monthly Income Scheme:

Under this scheme, a fixed income is provided to the investor every month on his investment. The minimum amount to invest in this scheme has been fixed at Rs 1500. And the maximum amount has been fixed at Rs 4.5 lakh for a single holding account and Rs 9,00,000 for a joint account. The interest rate of 6.6 percent has been fixed under this scheme. The maturity period of this scheme has been kept at 5 years.

Benefits and Features of Post Office Savings Scheme

  • People will be motivated to save money by investing in Post Office Savings Scheme .
  • By saving money, the financial condition of the directors will improve.
  • It is very easy to apply in the Post Office Saving Scheme.
  • Very few documents are required to apply for Post Office Savings Scheme 2021 .
  • Post Office Savings Scheme is a long term investment scheme.
  • Post Office Saving Scheme has interest rates ranging from 4% to 9%.
  • Post Office Savings Scheme is a government scheme which is completely risk free.
  • Investing in the Post Office Savings Scheme provides tax exemption to the investor under section 80C of the Income Tax Act.
  • Different types of schemes have been kept for all classes of people.

Post Office Savings Scheme of eligibility

  • You must be a permanent resident of India to apply for the Post Office Savings Scheme .
  • Aadhar card
  • Pan card
  • Passport size photograph
  • mobile number
  • Proof of residence

Some Guidelines for Investing in Post Office Savings Scheme

  • Invest in the right scheme: There are about 9 savings schemes available in the post office. Before investing in any savings scheme, you must make sure that the savings scheme you are investing in is right for you or not. You must read all the terms and conditions carefully. After which you will be able to decide which scheme is most beneficial for you to invest in.
  • Check Eligibility Before Investing: It is mandatory for you to check your eligibility before investing in any scheme. If you will invest in any scheme without checking your eligibility and you will be ineligible for that scheme then in this situation your investment may be rejected.
  • Keep in mind the investment conditions: While opening the account, you have to keep the investment conditions in mind. While opening the account, you have to check the terms and conditions for opening the account like age, number of account, number of account holders in a family etc. After that you can open the account
  • Keep in mind the minimum and maximum investment amount: You also have to keep in mind the terms and conditions of depositing the minimum and maximum investment amount of the scheme before investing in the post office savings scheme. You have to make sure whether you can make minimum investment per year or not.
  • Avoid Default: If you are not able to make minimum investment every year in this scheme, then in this situation your account is defaulted. You have to take special care that your account is not defaulted. If your account is in default then you will have to pay a penalty to get the account reopened.
  • Keep all the important documents ready in advance: Before investing under any scheme in the post office, you must ensure that all the important documents are available with you or not. If you are missing any documents, then you have to obtain those documents before opening the account.
  • Keep in mind the maturity period: You also need to keep in mind the maturity period while opening the account. You have to make sure whether the plan you are investing in will be able to bring you benefits in time.

Procedure to apply for Post Office Saving Scheme 2021

If you want to apply in the Post Office Saving Scheme 2021 then follow the procedure given below.

  • First you have to go to the nearest post office.
  • Now for whichever scheme you want to apply, the form will have to be taken from the post office.
  • Now you have to fill all the information asked in the form carefully like name, address etc.
  • All necessary documents have to be attached.
  • Now you have to submit this form back to the post office.
  • In this way you can apply in Post Office Saving Scheme.
  • To get more details about Post Office Savings Schemes, visit the official website

Post Office Saving Scheme Rules

SchemesRules
post office savings accountClick here
National Savings Recurring Deposit AccountClick here
National Savings Time Deposit AccountClick here
National Savings Monthly Income AccountClick here
Senior Citizen Savings Scheme AccountClick here
Public Provident Fund AccountClick here
Sukanya Samriddhi AccountClick here
national savings certificateClick here
Kisan Vikas PatraClick here

PPF, NSC, FD Interest Rate (1st July 2020 to 30th September 2020)

Post Office Savings Scheme NameInterest Rate for 1 July to 30 September 2020Compounding FrequencyDescription about Post Office Scheme
Savings Deposit Scheme Account4%AnnuallyPost Office Savings Bank Account (PO-SB) Scheme Details
1 Year Time Deposit5.5%QuarterlyPO Fixed / Time Deposit (TD) Scheme Account Details
2 Year Time Deposit5.5%Quarterly
3 Year Time Deposit5.5%Quarterly
5 Year Time Deposit6.7%Quarterly
Recurring Deposit (5 years)5.8%QuarterlyPO Recurring Deposit Account (RD) Details
Senior Citizen Savings Scheme (5 years)7.4%Quarterly & PaidSenior Citizens Savings Scheme Account Details
Monthly Income Scheme Account (5 years)6.6%Monthly & PaidMonthly Income Scheme (MIS) Account Details
National Savings Certificate (5 years)6.8%YearlyNational Savings Certificate Scheme Details
Public Provident Fund Scheme7.1%YearlyPPF Post Office Account Details
Kisan Vikas Patra6.9% (maturity in 10 years 4 months)YearlyKVP Scheme Account Details
Sukanya Samriddhi Account Scheme7.6%YearlySSA Account Details

How do I invest in Post Office Monthly Income Scheme?

Post Office Monthly Income Plan is a low risk plan with stable income. One can earn up to Rs.4.5 lakh per month. To invest in the Post Office Scheme, every individual is required to have an MIS account. Any resident can open an MIS account individually or jointly. The minimum investment for this scheme is Rs 1500. Is.

Can I withdraw money from any post office?

Yes, money can be withdrawn from post office account from any post office. Also, the account holder can withdraw money at any time, although in case of general account Rs. Minimum balance has to be maintained.

How much money can I withdraw from post office account?

Withdrawals can be made up to a maximum of Rs 10,000 per day from the post office account. But, Rs 25,000 per day can be withdrawn with the use of post office ATM card.

Can I check my post office account online?

Yes, Indian Post Office enables its account holders to access their respective account details etc. by using Internet Banking facility.
The customer has a valid individual or joint account, KYC documents and to register himself under Net-Banking. Must have an active DOP ATM card.

Is post office investment safe and tax free?

Yes, it is protected as an investment under the Post Office Bare Sovereign Guarantee of the Government of India. All these schemes are tax free to a certain extent and some schemes like PPF, Sukanya Samriddhi Yojana also have tax benefits on returns.

Is there any post office scheme for students?

All the schemes except the Senior Citizen Savings Scheme can be availed by the students above the age of 18 years. Sukanya Samriddhi Yojana (SSY) is a scheme for girl students, in which parents have to deposit a specified amount of minimum maturity or above and when she turns 21, the same is given to the girl child .

Contact us

  • First of all you have to go to the official website. After visiting the official website, the home page will open in front of you. On this home page, you will see the option of Contact Us at the bottom .
  • You have to click on this option. After clicking on the option, the next page will open in front of you. On this page you will get all the contact numbers.

Toll-Free Enquiry Helpline:- 18002666868

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Important Links

Procedure to apply for Post Office Saving Scheme 2021 (Official Website)Click Here
Home PageClick Here

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