MAHESHWARI CONSULTANT'S

Who can open :

A single adult or two adults jointly,

A guardian on behalf of a minor or a person of unsound mind; or A minor who has attained the age of thirteen year, in his own name.

Where can be opened :

At any post office.

Maturity

Period of maturity of an account is five years.

Deposits:

Sixty equal monthly deposits shall be made in an account in multiples of Rs.five subject to a minimum of ten rupees.

Defaults in deposits :

Accounts with not more than four defaults in deposits can be regularizedwithin a period of two months on payment of a default fee.

Account becomes discontinued after more than four defaults.

Interest & Repayment on maturity :

On maturity of the accounts opened on or after 1st March, 2003, an amount(inclusive of interest) of Rs. 728.90 is payable to a subscriber ofRupees: Ten denomination account.

Amount repayable, inclusive of interest, on an account of any otherdenomination shall be proportionate to the amount specified above.

Pass Book :

Depositor is provided with a pass book with entries of the deposited amountand other particulars duly stamped by the post Office.

Premature closure :

Premature closure of accounts is permissible after expiry of threeyears provided that interest at the rate applicable to post office savingsaccount shall be payable on such premature closure of account.

Continuation after maturity :

Permissible for a maximum period of five years.

Want to double your investments in less than nine years? Guaranteed!
Kisan Vikas Patras (KVPs) are available at all Head Post Offices and authorized post offices throughout India. The KVPs are measured as the most safe investment tool, as it has the backing of the Government of India. The principal is assured (guaranteed) and it is deemed to be a safe avenue for investing your money.
KVP is suitable for an increase in investment as it accumulates money at a fixed rate, and money doubles at the end of the specified period. It is for those looking for guaranteed returns.
Who can purchase :
An adult in his own name or on behalf of a minor,
A minor,
A Trust,
Two adults jointly.
Where available
Available for purchase/issue at Post Offices.
Maturity amount / period :
With effect from 1st March, 2003, invested amount doubles on maturityafter Eight Years and Seven months.(8yr & 7months)
Nomination :
Nomination facility is available.
Denomination / Deposit limits
Certificates are available in denominations (face value) of Rs. 100, Rs.500, Rs. 1000, Rs. 5000, Rs. 10,000 & Rs. 50,000.
There is no maximum limit for purchase of the certificates.
Tax Benefits :
No income tax benefit is available under the scheme. However the depositsare exempt from Tax Deduction at Source (TDS) at the time of withdrawal.
Premature encashment :
Premature encashment of the certificate is not permissible except at adiscount in the case of death of the holder(s), forfeiture by a pledgee andwhen ordered by a court of law.
Place of Encashment/discharge on maturity :
Can be encashed/discharged at the post office where it is registered or any other postoffice.

Post office Time deposit scheme is a type of fixed deposit account offered by Department of post, Government of India at all post office. This saving plan is best for those investors who want to deposit a lump sum for a fixed period. Investor gets a lump sum (principal + interest) at the maturity of the deposit, where rate of interest on investment depend on the term of deposit.
Who can open :
A single adult or two adults jointly,
A pensioner to receive/credit his monthly pension,
Group Accounts by Provident Fund, Superannuation Fund or Gratuity Fund, Authoritycontrolling funds of the Sanchayika.
Public Account by a local authority/body,
Institutional Accounts by the Treasurer of Charitable Endowments for India, TrustRegimental Fund & Welfare Fund,
A cooperative society / cooperative bank or scheduled bank on behalf of its members,clients or employees
Gazetted Officer in his official capacity.
[ Non Resident Indian / HUF can not open the account. ]
Nomination facility
Nomination facility is available under Post office Time Deposit scheme.
Amount Required
Minimum amount required: Rs.200/-.Maximum Amount : No Limit
Time / term of investment
Time Deposits can be made for the periods of 1 year, 2 years, 3 years and 5 years.
Interest Rates
Period of deposit Rate of Interest per cent/ per annum
1 YEAR 6.25 %
2 YEARS 6.50 %
3 YEARS 7.25 %
5 YEARS 7.50 %

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