Changes in Postal Savings Schemes W.E.F. 01.12.2011

SB ORDER dt 24.11.11	SCHEME	FEATURE	EXISTING	REVISED w.e.f. 01.12.2011	REMARKS AND ACTION TO BE TAKEN
22	KVP	CERTIFICATE ISSUE	Available	Discontinued	Existing stock to be returned from SO to HO and from HO to CSD after 30.11.2011
23	NSC	PERIOD	6 year	5 year	Rubber stamp to be affixed in NSCs about new period and maturity value.
		MATURITY VALUE	Rs.160.10 for Rs.100 Dn	Rs.150.90 for Rs.100 Dn
		10 YEAR NSC IX ISSUE	Not Available	Available	Features not mentioned now.
24	PPF	MAXIMUM SUBSCRIPTION LIMIT	Rs.70,000 per annum	Rs.1,00,000 per annum
		INTEREST RATE	8 % p.a	8.6 % p.a	New interest applicable for balance at credit in account from 01.12.2011
		LOAN INTEREST	1% p.a	2% p.a	1 % p.a Int will continue for Loan taken before 30.11.11
25	MIS	PERIOD	6 year	5 year	Rubber stamp to be affixed in PB about the new features
		INTEREST RATE	8 % p.a	8.2 % p.a
		BONUS	5 % on pri.	Discontinued
26	SB	INTEREST RATE	3.5 % p.a	4% p.a	New interest applicable for balance at credit from 01.12.2011
27	TD	PMC (from 6 months to 1 year)	No interest	SB Interest	For accounts closed on or after 01.12.2011
		PMC deduction	2 % Int less	1 % Int less	Refer Rule 8 and rate table in Rule 7 of POTD rules
	1 TD	INTEREST	6.25 % Q.C.I	7.7 %   Q.C.I	Interest applicable for accounts opened on or after 01.12.11 (Q.C.I-Quarterly Compounded Interest)
	2 TD	INTEREST	6.5 %   Q.C.I	7.8 %   Q.C.I
	3 TD	INTEREST	7.25 % Q.C.I	8.0 %   Q.C.I
	5 TD	INTEREST	7.5 %   Q.C.I	8.3 %   Q.C.I
28	RD	MATURITY VALUE	Rs.728.90 for Rs.10- Dn	Rs.738.62 for Rs.10- Dn	Proportionate value for other Denominations
29	AGENT COMM	PPF	1 %	Discontinued	Applicable for deposits made on or after 01.12.11
		SCSS	0.5 %	Discontinued
		MIS,TD,NSC	1 %	0.5 %
		RD (MPKBY)	4 %	4 %

Points to remember for Cheque Deposits:

• Investment in KVP through Cheque should not be accepted w.e.f. 28.11.2011. If any cheque presented before 28.11.2011 is cleared after 30.11.2011,  the amount should be refunded to depositor. 
• After 25.11.2011 while accepting cheques for opening MIS, rubber stamp should be affixed on counterfoil “No Bonus shall be payable if cheque is credited to Govt. Account after 30.11.2011 
• Rate of interests applicable according to the Date of Clearance of cheque.

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