XVI) 8 % MIS OF POST OFFICE

XVI) 8 % MIS of Post Office :
B 8 % interest paid monthly
B Tentre - 6 years
B Maximum limit for joint account Rs. 6 lacs
B 10 % bonus dis-contiunued from 13th February 2006
B Penalty for encashment after 1 year reduced from 3.5 % to 2 %
B For encashment after 3 years penalty of 1 % introduced

XVII) 8 % KVP :
B 8 % interest compounded quarterly
B Doubles after 8 years & 7 months
B Premature encashment – after 2.5 years with penalty
B Interest amount taxable

XVIII) 8% NSC :-
B Interest Compounded half yearly
B Investment & interest qualify for deduction u/s 80 C
B Rs. 1,000/- become 1601 after 6 years
B No premature encashment within 6 years
B Section 80C benefits for subscription and accrued interest
B Interest amount taxable

XIX) 8% GOI Senior Citizen Scheme :
B 9 % interest payable quarterly
B Tenure – 5 years
B Maximujm amount Rs. 15 lacs
B No TDS
B Premature withdrawal after 1 year with penalty.

XX) Post Office Time Deposits :
B 1 years - 6.25 %
B 2 years - 6.50 %
B 3 years - 7.25 %
B 4 year - 7.50 %