- Rate of interest 8% compounded half yearly
- Two adults, individuals, and minor through guardian can purchase.
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Companies, Trusts, Societies or any other Institutions are not eligible to purchase.
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Non-resident Indian/HUF cannot purchase.
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No premature encashment.
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Annual interest earned is deemed to be reinvested and qualifies for tax rebate for the first 5 years under section 80 C of the Income Tax Act.
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Maturity proceeds not drawn are eligible to Post Office Savings Account interest for a maximum period of two years.
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Facility of reinvestment on maturity.
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Facility of encashment of certificates through banks.
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Certificates are encashable at any Post Office in India before maturity by way of transfer to desired Post Office.
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Certificates are transferable to any Post office in India.
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Certificates are transferable from one person to another person before maturity.
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Duplicate certificate can be issued for in case the orginal one gets lost, stolen, destroyed, mutilated or defaced certificate.
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Nomination facility is available.
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Facility of purchase/payment to the holder of Power of Attorney.
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Tax Saving instrument - Rebate admissible under section 80 C of the Income Tax Act.
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Deposits are exempt from Wealth Tax.
