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Post Office Schemes
Recurring Deposit MIP NSC Senior Citizen Term Deposit
Product Name Maturity Value of Rs 1000 monthly deposit Interest Rate Duration CALC
POST OFFICE RECURRING DEPOSIT SCHEME 71,542 /- 7.20 % 5 years
Calculate..
Issuer Department of Posts
Institution GOVT / GOVT BACKED
Min Application Amount INR. 10/- and in multiples of INR. 5/- thereafter
Max Application Amount No limit.
Tax Treatment of Income Taxable returns, no tax deduction at source
Tax Benefit on Investment Not Applicable
Withdrawal Partial withdrawal facility available
Effective Annual Interest Rate 7.44 %
Specifications
  • Any individual (a single adult or two adults jointly) can open an account.
  • Advance Deposits earn rebate.
  • Four defaults are allowed.
  • Defaults can be paid within two months.
  • Premature closure allowed after three years.
  • Pay Roll Savings Scheme is also available for employees of various Establishments.
Pros Guaranteed returns
Cons Taxable returns
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Risk Factor : All investments in mutual funds are subject to market risks and the NAV of the schemes may go up or down depending upon the factors and forces affecting the securities market and there can be no assurance that the fund's objectives will be achieved. Past performance of the Fund does not indicate the future performance of the Schemes of the Fund.
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