Apply for Post Office Savings Scheme : Tamil Nadu Chennai Post

Organization :Chennai Post
Facility :Apply for Post Office Savings Scheme

Home Page :chennaipost.gov.in/savings.aspx
Download here :https://www.statusin.in/uploads/5352-AOF.pdf

Apply for Post Office Savings Scheme :
Savings Bank :
Savings Bank accounts are ruled by POSB Rule 1878. There are three types of accounts. They are Individual Account
** Any individual can open an account.
** Types of accounts : (i) Single Account (ii) Joint Account (iii) Pension Account
** Cheque facility available
** Minimum Rs.50/- for non cheque account and Rs.500/- for Cheque Account.
** There will be no maximum limit for retaining balance in single as well as Joint savings account.
** Rate of interest 4.0% per annum

Monthly Income Scheme (MIS) :
** Safe & sure way to get a regular monthly income. Specially suited for retired employees/ Senior Citizens or any one with high sum for investment .
** Minimum limit : In multiples of Rs.1500/- Maximum limit: Rs. 4.5 Lakhs in Single Account and Rs. 9 Lakhs in Joint Account.
** Maturity Period – Six Years for accounts opened prior to 01.12.2011 and Five years for accounts opened on or after 01.12.2011
** Rate of interest 8.5% per annum with effect from 01.04.2012
** No bonus for accounts opened on or after 01.12.2011

Recurring Deposit (RD) :
** Any individual (a single adult or two adults jointly) can open an account.
** Minimum : Rs.10/- and multiples of Rs.5/- thereafter. Maximum: No limit.
** Maturity period 5 years.
** Rate of interest 8.4% per annum with effect from 01.04.2012
** 6 and 12 months Advance Deposits earn rebate.
** Four defaults are allowed.
** Defaults can be paid within two months.

Time Deposit (TD) :
** Any individual (a single adult or two adults jointly) can open an account.
** Minimum : Rs.200/- and multiples of Rs.200/- Maximum: No limit.
** 1 Year, 2 Year, 3 Year and 5 Year TD can be opened.
** 2, 3 & 5 Year TD Accounts can be closed after one year at a discount.
** Revised rate of interest for accounts opened on or after 01.04.2012 is as follows

Senior Citizens Savings Scheme (SCSS) :
** A new avenue of investment and return for Senior Citizen.
** The account may be opened by an individual,
** ** Who has attained age of 60 years or above on the date of opening of the account.
** ** Who has attained the age 55 years or more but less than 60 years and has retired under a Voluntary Retirement Scheme or a Special Voluntary Retirement Scheme on the date of opening of the account within three months from the date of retirement.
** ** No age limit for the retired personnel of Defence services provided they fulfill other specified conditions.
** The account may be opened in individual capacity or jointly with spouse.
** Non-resident Indians (NRIs) and Hindu Undivided Family (HUF) are not eligible to open an account.