Interest Rates
| Period during
which opened
|
Minimum Amount of
Deposit (Rs.)
|
Maximum Amount in
case of Single Account (Rs.)
|
Rate of
Interest
|
Monthly Interest
Payable on Minimum Deposit (Rs.)
|
| From
|
To
|
| 01.06.1993 |
01.09.1993 |
6,000 |
2,04,000 |
14% |
70.00 |
| 02.09.1993 |
31.12.1998 |
6,000 |
2,04,000 |
13% |
65.00 |
| 01.01.1999 |
14.01.2000 |
6,000 |
2,04,000 |
12% |
60.00 |
| 15.01.2000 |
31.01.2000 |
6,000 |
2,04,000 |
11% |
55.00 |
| 01.02.2000 |
17.07.2000 |
6,000 |
3,00,000 |
11% |
55.00 |
| 18.07.2000 |
28.02.2001 |
1,000 |
3,00,000 |
11% |
9.00 |
| 01.03.2001 |
28.02.2002
|
1,000 |
3,00,000 |
9.5% |
8.00 |
| 01.03.2002 |
28.02.2003 |
1,000 |
3,00,000 |
9.0% |
8.00 |
| 01.03.2003 |
onwards. |
1,000 |
3,00,000 |
8.0% |
7.00 |
Features
Only one deposit in
an account.
Only individuals
can open the account; either single or joint.( two or three )
Interest rounded
off to nearest rupee i.e,
50 paise and above will be rounded off to next rupee.
Interest is paid to the depositor monthly on completion of
the month from the
date
of initial deposit.
Monthly
interest can be automatically credited to savings account provided
both the accounts standing at the same post
office.
Premature closure is permitted
i.
After one year before 3
years................With reduction of 3.5% from deposit amount
ii.
After 3
years
................ No reduction,
but no bonus.
On matured
account
................10 % of principal is paid as bonus to the depositor.
Post maturity
interest will be paid for a maximum period of 24 months at the
rate applicable to individual savings account.
MONTHLY
INTEREST ON INVESTMENT
- WITH EFFECT FROM 01.03.2003
(
Amount in Rupees-to be rounded off to nearest rupee) at 8.0%
4
| Amount Invested |
Monthly Interest |
Amount Invested |
Monthly Interest |
Amount Invested |
Monthly Interest |
| 1000 |
7.0 |
10000 |
67.0 |
1,00,000 |
667.0 |
| 2000 |
13.0 |
20000 |
133.0 |
2,00,000 |
1334.0 |
| 3000 |
20.0 |
30000 |
200.0 |
3,00,000 |
2000.0 |
| 4000 |
27.0 |
40000 |
267.0 |
4,00,000 |
2667.0 |
| 5000 |
33.0 |
50000 |
333.0 |
5,00,000 |
3333.0 |
| 6000 |
40.0 |
60000 |
400.0 |
6,00,000 |
4000.0 |
| 7000 |
47.0 |
70000 |
467.0 |
|
|
| 8000 |
53.0 |
80000 |
534.0 |
|
|
| 9000 |
60.0 |
90000 |
600.0 |
|
| |
