Postal Deposit Rates in India
Postal Deposits are the best and risk free source of investment. Postal Deposits are popular in mostly rural areas and among retired people who lives alone without children. People with no or low risk appetite love to invest in post office schemes. Find below the top five Fixed Deposit schemes available in as on February, 2012.
| Postal Deposit Scheme | Interest Rate(%) | Minimum Investment(Rs.) | Maximum Investment(Rs.) | Features | Tax Relaxation |
|---|---|---|---|---|---|
| Monthly Income Scheme | 8.50 | 1,500 | Single 4.5 Lakh Joint 9 Lakh | Tenure: 5 Years Monthly Returns | Nil |
| Recurring Deposit | 8.40 | 10 | No Limit | Tenure: 5 Years | Nil |
| Savings Account | 4.00 | 50 | No Limit | Rs. 10,000 Interest Tax Free | Nil |
| National Savings Certificate (5 yr) | 8.60 | 100 | No Limit | No TDS | 80C |
| National Savings Certificate (10 yrs) | 8.90 | 100 | No Limit | TDS applicable | 80C |
| Time Deposit | 8.20-8.50 | 200 | No Limit | Available in 1, 2, 3, 5 yrs | 80C |
| Senior Citizens' Saving Scheme | 9.30 payable quartely | 1,000 | 15 Lakh | Tenure: 5 Years Minimum Age 60yrs | 80C |
| Public Provident Fund | 8.80 | 500 | 1 Lakh a year | 15-year term; Tax-Free Returns | 80C |
| Employees' Provident Fund | 8.60 | - | - | Till Retirement | 80C |
| Rate compounded – (a) quarterly, (b) yearly, (c) half yearly | |||||
Sec.80C benefit: Investments up to ` 1 lakh in specified securities(maximum of ` 70000 in PPF)qualify for deductiom.
Last Updated on 2/8/2012
