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.

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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

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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

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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,”