Ministry of Finance issued the order of increased Postal Small Savings Schemes Interest Rates w.e.f 01st April 2023. Post office interest rate Table April 2023. Post Office Interest Claculator, Chart & Table from April 2023 in PDF.
Download Post Office Interest Rate Chart/Table 2023 in PDF.
Special Key Features of Post office Small Saving Schemes & Other Products from April 2023:
Post Office Savings Account (POSB):
1. Minimum Deposit 10/- minimum WDL 50/-
2. Minimum Balance for SB GEN and SB CHQ Account is 500/- if Not Maintained 50+GST will be debited in a year
3. Facility in PO saving Account : cheque Book , ATM Card, Ebanking & Mobile banking Aadhar seeding APY, PMSBY, PMJJY
4. Conversion of single to join account or vice versa is not allowed
5 Year Recurring Deposit (RD) A/c:
1. Any Number of Accounts Can Be Opened
2. Deposit Can be made by Cash or Cheque, If deposit not made in a month defauilt charged @ 1 rupee for 100 Rs denamination account
3. Loan Facility available at Rate of RD+2% premature clouser after 3 years, Account can be extended for further 5 years (only for once), deposit can be done Ebanking .mobile banking & IPPB
1,2,3,5 Year Time Deposit:
1. Extension Allowed with Revised Rate
2. Premature Closure Allowed after Expiry of 6 month from the date of deposit. Annual interest credited may be POSB or Avails ECS facility to other banks
Senior Citizen Savings Scheme (SCSS):
1. Individual above 60Y, Retired Civilian Employees 55-60Y, Retired defence employees 50-60y
2. Premature Closure Allow any time
3. ExtensionAllowed within 1 year after maturity with revised rate ( Only Once for three Years)
4. Interest is taxable if total interest in all SCSS accounts exceeds Rs.50,000/- In a financial year, willnot be deducted if 15H or 15G Submitted.
Monthly Income Account Scheme:
1. Premature Closure after 1 year
2. Interest Credited into POSB/ECS.
3. Limit for account opened on behalf of a minor as guardian shall be separate
4. Interest is taxable in the hand of depositor
Sukanya Samridhi Account Scheme:
1. No limit on number of deposits
2. By the guardian in the name of girl child below the age of 10 years. Only 2 Girl
3. Half Withdrawal: By the guardian in the name of girl child below the age of 10 years.
4. Closure: after 21 years from account opening & on marriage of girl child after attaining age of 18yrs (One Month before & Three Months after date of marriage)
National Savings Certificate:
1. Premature Closure not allowed except special cases
2. Any number of accounts can be opened
3. Closure allowed only on maturity after 5 years
4. NSC may be pledged or transferred as security
5. Transfer of account from one person to another person
Public Provident Fund Scheme:
1. No limit on number of deposits
2. 50 rs default fee for each defaulted yr
3. Loan can be taken after the expiry of one Full Financial year
4. Half Withdrawal can be taken after the expiry of Five Full Financial year
Kisan Vikas Patra:
1. Any number of accounts can be opened
2. KVP may be pledged or transferred as security
3. Premature Closure after 2.5 yers
4. Amount Invested doubles in 115 month
5. Transfer of account from one person to another person
