PensionIndia

To start with there is no limit of Maximum deposit in POTD Scheme.

1 year time Deposit :

Interest rate is 7.7% p.a. Hence Rs.100/- will become 107.93 in one year.

2 Year time Deposit :

Interest rate is 7.80% p.a.Hence Rs.100/- would become Rs.116.71 in two years.

3 Year time Deposit :

Interest rate is 8.0% p.a. Hence, Rs.100/- would become Rs.126.82 in three years.

5 Year time Deposit :

Interest rate is 8.30 % p.a. Hence Rs.100/- would become Rs.150.80 in five years.
Also for the 5 year deposits upto Rs.1 lakh are deductible under section 80 C of the IT Act 1961.

What are the salient features of Monthly Income Scheme ( MIS ) run by Post Office in India?

#Interest rate is 8.20% compounded yearly with a maturity period of 5 years.
#Maximum limit of deposit in single account is Rs.4.5 lakh & in joint account is Rs.9 lakh
#Bonus payable on maturity is discontinued on accounts opened on or after 1-12-2011. However the accounts opened before 1-12-2011 will continue enjoying the Bonus.

Team PensionIndia

What are the salient features of Post Office Recurring Deposit ( PORD ) ?

#Interest rate is 8 % compounded annually.
#Deposit Rs.10 per month for 5 years & get Rs.738.62 on Maturity.
#No limit on Maximum Deposit

Team PensionIndia

What are the salient features of POSA ( Post Office Saving Account )?

#Interest rate is 4% compounded anually.
#Tax Free interest upto Rs.3500/- in Single account & Rs.7000/- in Joint account in a year.
#No limit on Maximum Deposit

Team PensionIndia

The government recently notified the new 10-year National Savings Certificate (NSC) that will fetch 8.7 per cent interest per annum compounded semi-annually.

According to the notification, on investment of Rs 100, the depositor will get Rs 234.35 on maturity of the certificate, which will be available in the denominations of Rs 100, Rs 500, Rs 1,000, Rs 5,000 and Rs 10,000. There is no upper limit , however, for investment in the certificate.

The scheme will come into effect from December 1, 2011.

“The rupee weakness is basically due to the European crisis and has nothing to do with the domestic economy,”

Largest truck maker in India by sales Tata Motors jumped 7.59% to Rs. 173.85 and was the top gainer from the Sensex pack. The stock had lost 11.36% in prior three trading sessions. On BSE, 28.30 lakh shares were traded in the counter as against an average daily volume of 26.89 shares in the past two weeks.

According to a study by US banking group Citi, India will be the world's largest economy within 39 years. Indian GDP in 2050, measured by purchasing power parity (PPP), will be $85.97 trillion. China, in second place, will have a GDP of $ 80.02 trillion and the US $ 39.07 trillion (see chart).

With an estimated population in 2050 of 1.63 billion, India will thus have a per capita income of over $53,000 - in the range of today's wealthiest countries like Switzerland and Norway. Sounds too good to be true? Of course it is.

NPS ( New Pension Scheme ) Vs EPF ( Employee Provident Fund )

NPS & EPF were both conceptualized as tool for retirement.

However, after the introduction of the NPS, does continuing with EPFO (Employee Provident Fund Office) by private sector employees makes sense?

There is one major difference between NPS and EPF.NPS is purely based on defined contribution but EPF can be considered as a Hybrid plan having the benefits of both defined benefit and defined contribution.

Why Buying a Children’s Plan from an Insurance company makes sense?