| Who can Invest |
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An adult for himself or on
behalf of a minor, jointly by two adults, a minor and a Trust.
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| How to Purchase |
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Certificate in denomination of
Rs. 100, Rs.500, Rs. 1000, Rs.5000 & Rs. 10,000 may be purchased from any post office, either directly or through authorised agents. In addition to cash, locally executed cheque, pay order or demand draft in favour of the Post Master are also accepted.
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| Rate of Interest |
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Rate
of interest is 8.16% p.a. compounded half yearly and paid after the maturity period of six
years along with principal.
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Annual accrual rate of interest on
investment of Rs.100/- is as under and is in proportion for other
denominations.
|
1st year |
Rs.
8.16 |
| 2nd year |
Rs. 8.83 |
| 3rd year |
Rs.9.55 |
| 4th year |
Rs.10.33 |
| 5th year |
Rs.11.17 |
| 6th year |
Rs.12.08 |
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| Encashment |
|
Can be encashed after 6 years.
A
certificate can be encashed at the post office at which it stands registered. A certificate may also be encashed at any other post office if the Officer –in –charge of that post office is satisfied on verification from the office of its registration that the person presenting the certificate for encashment is entitled thereto.
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| Tax Benefit |
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As announced by the Government of India from time to time. |
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