1.
Duration |
6 years |
2.
Rate of Interest |
8 % per annum half yearly compounded
(Rs.100 becomes 160.10 after maturity period of six years) |
3.
Where to invest ? |
Any head post office / sub-post office
in cash, demand draft, local cheques. |
4.
Who can invest ? |
(i).
An individual(Above 18 years)
(ii).
Two individuals
(iii). A guardian on behalf of a minor. |
5.
Denomination of Certificates |
Rs. 100/-, Rs. 500/-, Rs. 1000/-, Rs.
10000/- |
6.
How much to invest ? |
No limits |
7.
Withdrawals |
(i). On maturity (After
6 years)
(ii). Premature on the death of the holder
or any of the holders. |
8.
Nomination |
Available |
9.
Income Tax benefits |
Investment eligible for rebate U/S
80C of I.T. Act.
(i). Annual accrued Interest is also eligible
for rebate U/S 80C of I.T. Act 1961 |
