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.
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.
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.
| What is the article about | Post office savings scheme |
| Who launched the scheme | Indian government |
| Beneficiary | Citizens of India |
| Objective | To promote the habit of saving among the people by providing high interest rate and tax exemption. |
| Official website | Click here |
| Year | 2021 |
| Scheme available or not | Available |
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.
Also Check-
| Types of Schemes | Taxability |
| Kisan Vikas Patra | Under Section 80C of the Income Tax Act, investment up to a maximum of ₹150000 is exempted. |
| Post office time deposit | Under 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 years | The interest earned under this scheme is fully taxable. |
| Post office savings account | The 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 Scheme | Tax exemption up to ₹150000 under section 80A and TDS rebate up to ₹50000 on interest. |
| Sukanya Samriddhi Account | Tax exemption up to ₹50000 on interest. |
| Post Office Monthly Income Scheme | There is no exemption under this scheme and the interest is also fully taxable. |
| National savings certificate | Tax exemption of 1.5 lakh rupees under section 80C. |
| Public provident fund | TDS earned on interest but maturity amount tax free. |
| 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 account | No fee for 10 cheques after that ₹2 per cheque. |
| Charges on Dis-Owner of Check | ₹100 |
| Scheme Name | Minimum limit | Ceiling |
| Post office savings account | ₹500 | no maximum limit |
| National Savings Recurring Deposit Account | ₹100 | no maximum limit |
| National Savings Time Deposit Account | ₹1000 | no 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 | ₹1000 | no maximum limit |
| Kisan Vikas Patra Account | ₹1000 | no maximum limit |
| Sukanya Samriddhi Account | ₹ 250 | ₹ 150000 in 1 year |
| Names of Schemes | Period |
| Post office savings account | – |
| National Savings Recurring Deposit Account | 3 years after account opening |
| National Savings Time Deposit Account | 6 months after account opening |
| National Savings Monthly Income Account | 1 year after account opening |
| Senior Citizen Savings Scheme Account | Account can be closed at any time |
| Public Provident Fund Account | 5 years after account opening |
| Sukanya Samriddhi Account | 5 years after account opening |
| National savings certificate | 5 years after account opening |
| Kisan Vikas Patra | 2 years 6 months after investing |
| Names of Schemes | Maturity |
| Post office savings account | – |
| National Savings Recurring Deposit Account | 5 years after account opening |
| National Savings Time Deposit Account | 1 year, 2 years, 3 years, 5 years (depending on the situation) |
| National Savings Monthly Income Account | 5 years after account opening |
| Senior Citizen Savings Scheme Account | 5 years after account opening |
| Public Provident Fund Account | 15 years after account opening |
| Sukanya Samriddhi Account | After 15 years from the date of investment |
| National savings certificate | 5 years after the date of investment |
| Kisan Vikas Patra | To be determined by the Ministry of Finance from time to time |
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.
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.
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.
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 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.
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.
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.
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.
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.
If you want to apply in the Post Office Saving Scheme 2021 then follow the procedure given below.
| Schemes | Rules |
| post office savings account | Click here |
| National Savings Recurring Deposit Account | Click here |
| National Savings Time Deposit Account | Click here |
| National Savings Monthly Income Account | Click here |
| Senior Citizen Savings Scheme Account | Click here |
| Public Provident Fund Account | Click here |
| Sukanya Samriddhi Account | Click here |
| national savings certificate | Click here |
| Kisan Vikas Patra | Click here |
| Post Office Savings Scheme Name | Interest Rate for 1 July to 30 September 2020 | Compounding Frequency | Description about Post Office Scheme |
| Savings Deposit Scheme Account | 4% | Annually | Post Office Savings Bank Account (PO-SB) Scheme Details |
| 1 Year Time Deposit | 5.5% | Quarterly | PO Fixed / Time Deposit (TD) Scheme Account Details |
| 2 Year Time Deposit | 5.5% | Quarterly | |
| 3 Year Time Deposit | 5.5% | Quarterly | |
| 5 Year Time Deposit | 6.7% | Quarterly | |
| Recurring Deposit (5 years) | 5.8% | Quarterly | PO Recurring Deposit Account (RD) Details |
| Senior Citizen Savings Scheme (5 years) | 7.4% | Quarterly & Paid | Senior Citizens Savings Scheme Account Details |
| Monthly Income Scheme Account (5 years) | 6.6% | Monthly & Paid | Monthly Income Scheme (MIS) Account Details |
| National Savings Certificate (5 years) | 6.8% | Yearly | National Savings Certificate Scheme Details |
| Public Provident Fund Scheme | 7.1% | Yearly | PPF Post Office Account Details |
| Kisan Vikas Patra | 6.9% (maturity in 10 years 4 months) | Yearly | KVP Scheme Account Details |
| Sukanya Samriddhi Account Scheme | 7.6% | Yearly | SSA Account Details |
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.
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.
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.
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.
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.
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 .
Toll-Free Enquiry Helpline:- 18002666868
ALSO CHECK-
| Procedure to apply for Post Office Saving Scheme 2021 (Official Website) | Click Here |
| Home Page | Click Here |
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