SMALL SAVINGS SCHEMES &

JAN SURAKSHA SCHEMES

 SB- Savings account
Account can be opened by cash only. Rs. 20 needed
to open and minimum balance 50 to be maintained for
SB general type.

SB Basic account can be opened with ZERO balance

 can avail ATM facility.

At least one transaction of deposit or withdrawal in

three financial years is necessary to keep the account
active.
SB Continued…

Cheque facility available and can be availed in an exi​

sting account also, provided minimum balance will be
Rs.500/-

Nomination facility is available at the time of opening

and also after opening of account.

Account can be transferred from one CBS post office

to another CBS post office
SB Continued…
Only one SB account can be opened in one post office.

Account can be opened by an adult (Single) two

(Joint A and Joint B) or three adults (Joint A and Joint
B) .

Account can be opened in the name of minor and a

minor of 10 years and above age can open and operate
the account.
SB Continued…
Minor after attaining majority has to provide revised
KYC and apply for conversion of the account in his
name.

Single account can be converted into Joint and Vice

Versa.

Deposits and withdrawals can be done in CBS Post

offices without passbook. Daily limit will be 25000 for
non-home branch
SBContinued…

Rupay debit card facility.

990 Interoperable ATMs

Max 25000 withdrawal from ATM for a day
Max 10000 withdrawal in a single transaction
In a day 5 transactions can be done on a day in DOP ATMs (called onus trxns) and
are completely free of service charges.
No SMS charges.
No charges for new PIN requests.
No charges for duplicate cards.
No annual maintenance fee

If used at bank ATMs,

5 free transactions in a month (financial & non financial) in non-metros
3 free transactions in metros.
KYC/AML/CFT
Obtaining KYCis compulsory for Combating Financial
Terrorism and Anti Money Laundering under PMLA
2002(amended from time to time)

KYC enables POSB to know/understand their customers in

a better way
CAP- Customer Acceptance Policy
Under this policy no accounts is to be opened in
anonymous or fictitious names/ benami
Also no existing accounts can be closed without
proper identity or obtaining documents regarding
KYC
RECURRING DEPOSIT-RD
SALIENT FEATURES
Any adult or minor(above 10 yrs)or by guardian on behalf of
minor can open RD account , either singly or jointly (with two
adults)
Can be opened by Cash/Cheque
Min. Rs.10/- & thereafter in multiples of Rs.5/- and no max. limit
Any no. of accounts can be opened in any post office.
Interest Rate w.e.f 01.04.2019 is 7.3%
For Dn. 10/- maturity Value is 725.05/-
• Maturity Period- 5 Yrs and can be closed prematurely after 3 years
• For PMC, SB rate of interest is allowed
RD- Continued…

 Default fee @ 1 % is charged if monthly installment is not deposited

within the period
Subsequent monthly deposits for RD accounts opened
between
 1st and 15th should be deposited before 15th of next month
 16th and last working day should be deposited before last
working day of next month
 After 4 defaults, the account becomes discontinued and can be revived
within 6 months otherwise, no further deposit can be made.
 Rebate as follows is allowed for advance deposit
 For Dn. 10/- Re.1/- for 6 months advance deposit & Rs.4/- for 12 months
 One withdrawal up to 50% of the balance allowed after one year.
 Interest for withdrawal shall be the interest of 5 yr TD + 2 %
RD Continued…
Can be closed after 5 years
There is a provision to extend the account with or
without deposit for further 5 years
PMI at SB rate is allowed after date of maturity
There is no Income Tax Rebate in this Scheme
RD Continued…
PROTECTED SAVINGS SHEME
 Under the Scheme if the depositor dies before maturity, full maturity value
will be paid to the nominee/legal heir

Conditions:
 Applicable to only 1 account and of Dn. Upto Rs.50/-
 Age at the time of opening a/c must be between 18 years & 53 years
 2 yrs should have been completed & 24 months installments have been
paid
 A/c should not be discontinued
 No withdrawal should have been done before the first 2 years
 Claim should be submitted within 1 year of date of death of depositor
 TD-TIME DEPOSIT
 A Scheme in which one can invest a fixed amount for the prescribed time ie, 1 ,
2 , 3 or 5 yrs.
 Any number of accounts can be opened in multiples of 100 and with a
minimum of 100 rupees
 There is no max. limit
 Interest is qtly compounded and annually payable.
 Interest rates w.e f 01.01.2018 as follows
1 YR TD------7%
2 yr TD-------7%
3 yr TD-------7%
5 yr TD-------7.8%
 5 yr TD has tax rebate under 80 c of income tax.
  ​Automatic Renewal is permitted for the same period of initial deposit after
maturity
 Interest rate applicable on the day of maturity will be applicable for auto
renewal
TD continued…
Lockup period is 6 months. If closed before 1 year SB rate
of interest will only be given.
If the account is closed prematurely, interest will be 2%
less than the rate specified for completed years
PMI is allowed at SB rate of interest.
In case of death of depositor, nominee can continue the
account.
If claimed prematurely, the rate of interest for completed
year TD is allowed
TD account can be pledged as security. No pledging fee
for TD accounts.
TD continued…
5 yr TD has tax rebate under 80 c of income tax.
 ​Automatic Renewal is permitted for the same
period of initial deposit after maturity
Interest rate applicable on the day of maturity will
be applicable for auto renewal
MIS- Monthly income scheme
A fixed deposit savings scheme in which the depositor
gets interest monthly as an income
Interest Rate w.e.f 01.04.2019 is 7.7%
Cannot be opened at BOs
Any adult or minor(above 10 yrs)or by guardian on
behalf of minor can open MIS account , either singly or
jointly(max with three adults)
Can be opened by Cash/Cheque
MIS- Continued…
Can be opened with a minimum amount of Rs.100/- &
in multiples of 100/-
Total deposit in all POs should not exceed
Rs.4,50,000/- in single & Rs.90000/- in joint account.
Nomination Facility available
Transferable
Any no. of accounts can be opened at any POs subject
to max. investment limit
MIS- Continued…
Maturity Period-5 years

Premature closure is possible after 1 year at a

deduction of
2 % & after 3 years 1 %deduction

Monthly Interest can be credited automatically into

SB account
MIS- Continued…
Monthly interest is paid on completion of a month from date of opening
of account.

No interest is payable for interest not withdrawn

Account can be opened through SAS Agent, but Agent should not act as
Messenger for withdrawal of interest

PMI is admissible after maturity

More Interest can be earned , if the monthly interest from MIS is credited
to RD automatically through SB.
SCSS-SENIOR CITIZEN ACCOUNT
Eligibility
 Senior citizens with the age of 60 and above
 Retired employees with age 55 and above (The investment is to be made
within one month from the date of receipt of benefit)
 Defense personnel who retires from service after attaining the age of 50 yr
 Joint account with spouse only (spouse no age restriction)
Account will be opened in all HOs and Departmental SOs
Current rate of interest 8.7% w e f 01.04.2019
Maturity period is 5 years, Extension for 3 years after maturity by
making an application
Interest is paid quarterly, shall be payable on 1st working day of April,
July, October and January. It will be applicable at all CBS Post Offices.
SCSS- Continued…
Minimum deposit should be Rs.1000/-.and in
multiples of Rs.1000/-
Maximum limit is Rs.15 Lakhs
Investment under this scheme qualifies for the benefit
of Section 80C of the Income Tax Act
SCSS- Continued…

Can be opened by Cash only up to Rs.99000/-

For Rs.1 Lakh & above only Cheque is accepted
Nomination facility is available
Premature closure is allowed after 1 year, with a
deduction of 1.5%, between 1 year & 2 years and with
1% after 2 yrs.
PMI is allowed after maturity.
TDS is deducted at source on interest if the interest
amount is more than INR 50,000/- p.a. 
Public Provident Fund

A popular long term investment scheme backed by

Government of India.
Offers safety with attractive interest rate and returns
that are fully exempted from tax
Safe
High returns
Tax beneficial
PPF Account can be opened in a post office which is
Double handed and above
 PPF- continued ...

One person can open only one PPF Account in his or

her own name

Joint Account can not be opened

One person who have his own PPF Account can open
another PPF Account on behalf of a minor but subject
to maximum investment by adding balance in all
account
 PPF- continued ...

PPF Account can be opened by cash or cheque

In case of cheque the date of realization of cheque in
Govt. Account shall be the date of opening of account
Nomination facility is available at the time of opening
and also after opening of account
Maximum number of people can be nominated is four
Account can be transferred from one Post office to
another
 PPF- continued ...

Interest Rate From 01-04-2019 8% per annum

compounded yearly
The interest rate in PPF Account is calculated on IBB
IBB is the lowest balance between the 5th and last day of the
month
ie, interest is calculated on the balance available in the
account at the end of the 5th of every month
To maximize your earnings try making deposits between 1st
and 5th of the month
Interest is compounded annually and credited on March 31st
of each year
 PPF- continued ...

The Minimum Amount for Account Opening is

Rs. 100/-
Deposits can be made in Lump-sum or in 12
installments
The amount to be deposited in a financial year
Minimum Rs.500/-
Maximum Rs. 150000/-
If failed to pay Rs500/-in a financial year
penalty Rs 50/- is charged.
 PPF- continued ...

Closure after 15 years from the end of the year in which

the account is opened
A/C can be continued after 15 years for a block of 5 years
each time.
During the extension period a/c can be closed
prematurely.
The reduction in interest rate by 1% shall be applicable
from the date of the commencement of the current 5 year
block period.
PPF-Loan
From third financial year before expiry of 5 years from
the end of financial year of opening.
Amount of loan is 25% of the balance at the end of
Second year preceding the year of application for loan
Fresh loan is not allowed unless previous loan amount is
repaid
No loan is admissible after 5 years
PPF Loan- continued ...

Within 36 months from the month following the month

of sanction of loan in one lump or monthly installments.
Interest at 2% is recovered for loans taken on or after
1.12.2011
Failure to repay loan within 36 months 6% interest will be
charged
PPF-Withdrawal
After 5 years from the end of year of opening
Example - if the a/c opened in 2011-12- withdrawals
permissible from 2017-18
Up to 50% of balance held 4 years back or balance at
the end of previous year- whichever is less
 Example- if the a/c opened in 2011-12,50% of
 balance as on 31-3-2014 or balance as on 31-3-2017
which ever is less
Only one withdrawal in a financial year is allowed
Withdrawal amount taken need not be returned
 PPF- continued ...

Tax Benefit of PPF

The amount invested in PPF will be eligible for deduction
under sec. 80 C. and maturity interest is tax exempt
Tax exemption
On deposit amt during investment
On interest which is completely tax free
On maturity amount which is also tax free

No attachment under court decree order.

 Sukanya Samriddhi Yojana
Account can be opened by natural or legal guardian
of a girl child from the birth of the girl child till she
attains the age of ten years
Natural or legal guardian is allowed to open only one
account in the name of a girl child and maximum of
two accounts in the name of two girl children
Third account in the event of birth of twin girls as
second birth or three girl children in the first birth
itself
Nomination is not allowed in these accounts
 SSA- continued ...

Documents required
Birth certificate of Account Holder ( The girl
child in whose name the account is opened )
Identity proof of depositor as per KYC
Address proof of depositor as per KYC
In case of third account, certificate from
competent medical authorities where birth of
twin or triple girl children take place
Note : Guardian will be called as depositor and
Girl child will be called as Account Holder
 SSA- continued ...

Minimum amount needed to open an SSA a/c is Rs.250

Minimum 250 rupees to be paid in a financial year
Max. contribution allowed in a financial year is Rs. 150000
subsequent deposits shall be in multiples of 100
Can de made in lump-sum or in installment –no limit on
number of installment
 If minimum Rs.250/- is not deposited in a financial year
account will be discontinued which can be renewed by
paying 50 rupees as default fee per year and minimum
deposit required for that year
 SSA- continued ...

Contribution to be made till 14 years

Can withdraw max up to 50% of balance standing at the
end of the preceding financial year after attaining the age
of 18 years for education purpose
Account can be closed after completion of 21 years
Normal PMC will be allowed after completion of 18 years/
provided that girl is married
Nomination facility is not available for SSA.
Deposits qualify for deduction from income tax under sec
80c of it.
Present Rate of Interest 8.3%.
 SSA- continued ...

Operation of account
Opened and operated by Natural or legal guardian till
the girl child attains the age of 10
After that the girl child may herself operate the
account
Deposits in the account may be made by the guardian
only.
Account can be opened up to the age of 10 years only
from the date of birth.

06/10/2020 PTC MYSURU 3.9.37

 SSA- continued ...

Withdrawal - Partial
To meet the financial requirements of the account holder
for the purpose of
-Higher education
-Only when the account holder attains the age of
18 years or passing 10th Standard whichever is earlier
Withdrawal up-to 50% of the balance at the credit at the
end of preceding financial year
Maximum of 5 withdrawals within the overall limit of
50% of balance.
Only one withdrawal in one financial year
06/10/2020 PTC MYSURU 3.9.38
 SSA- continued ...

Premature closure
In the event of death of the account holder
On production of death certificate issued by the competent
authority
Balance in the account along with interest till the month
preceding the PMC will be paid to the guardian of the
account holder

06/10/2020 PTC MYSURU 3.9.39

SSA- continued ...

Premature closure
After 5 years of opening of such Account.
In cases of extreme compassionate grounds
Such as medical support in life-threatening diseases of
the Beneficiary Account holder or death of the Guardian
Power of sanction of such closure is delegated to Head
of the Postal Division/Sr. Postmaster,

06/10/2020 PTC MYSURU 3.9.40

 SSA- continued ...

Premature closure
Where marriage of the account holder takes place before
completion of 21 years from the date of opening.
 After the account holder attains 18 years of age
 Provided that no such premature closure shall be made before
one month preceding the date of the marriage or
 After three months from the date of such marriage.

06/10/2020 PTC MYSURU 3.9.41

 SSA- continued ...

Premature closure
lf an application is made for premature closure for the
reasons other than extreme compassionate grounds
 the premature closure may be permitted on condition that the
account shall be treated as Savings Account from date of
opening
 whole Deposit would be eligible only for interest rate
prescribed for Post Office Savings Bank.
 Excess interest credited in such cases will be recovered from
the balance in the account

06/10/2020 PTC MYSURU 3.9.42

 SSA- continued ...

Closure on maturity
On completion of twenty-one years from the date of
opening of the account
On maturity, the balance including interest outstanding
in the Account shall be payable to the Account holder.
On furnishing documentary proof of her identity,
 residence and citizenship.
No PMI is payable if the account is not closed after
maturity

06/10/2020 PTC MYSURU 3.9.43

SSA- continued ...

Transfer of Account
Transfer of SSA is permitted between
Post office to another post office
Post office to Bank

If the change of address proof is submitted

No charges for transfer of account
Other wise, Rs.100/- will be charged for transfer of
account.

06/10/2020 PTC MYSURU 3.9.44.

 KVP- Kisan vikas pathra
Present Rate of Interest is 7.7%. Invested amount
doubles in 112months. (9 year 4months)
Investment shall be in multiples of 1000 with a
minimum of 1000.
Premature encashment allowed after 2 year and 6
months.
Facility of nomination is available.
Account can be opened individually or jointly viz:
joint A & joint B with two adults
NSC – National savings certificate
No max limit for investment. Present rate of Interest is
8%. (Maturity value is 144.23 per 100 )
Maturity period is 5 years. No premature closure is
allowed.
NSC can be pledged as security.
Investment upto 150000 per annum qualifies IT rebate
under section 80C of IT act.
Investment shall be in multiples of 100.
Nomination facility is available.
Account can be opened individually or jointly viz: joint A
& joint B with two adults
JANSURAKSHA SCHEMES-

Pradhan Manthri Suraksha Beema Yojana (PMSBY)

Pradhan Manthri Jeevan Jyothi Beema Yojana

(PMJJBY)

Atal Pension Yojana (APY)

PMSBY
Cover for accidental death/disability.
Age 18-70 (Only one account is allowed.)
Premium is Rs.12/- per annum.
 Coverage from 1st June to 31st May.
The depositor who wants to enrol PMSBY has to
maintain balance of Rs.62/- in his account. (For chq
A/c Rs.512,For Basic Saving A/c Rs.12/-)
Amount is auto –debited from SB account.
Offered by public sector Insurance company or General
Insurance Company (NIC for DOP).
 Benefits of PMSBY
 TABLE OF BENEFITS  SUM ASSURED

 Death RS.2 Lakh

Total & irrecoverable loss of  Rs. 2 lakh

both eyes or loss of use of
both hands or feet or loss of
sight of one eye and loss of
use of hand or foot.
Total & irrecoverable loss of Rs. 1 lakh
sight of one eye or loss of use
of one hand or foot.
When the Policy terminates?
 On Attaining the age of 70 years.
On Closure of Bank/POSB A/c.
Maintanance of Insufficent Balance in SB A/c.
In case of Insurant Paid Premium paid through two
different a/c ‘s or in two different Banks,Only one
policy is Eligible ,Remaianing Premium will be
Forfeited.
PMJJBY
Provide Insurance benefits for death due to any reasons.
Premium is Rs.330/- per annum.
Insurance coverage is Rs.2 lakh.
Age is 18-50 .
The account holder has to maintain Rs.380/- within 7
days of giving PMJJBY enrolment form.
Amount is auto –debited from SB account.
A/c holder has to maintain Rs.380/- in the account.
Offered by public sector Insurance company or General
Insurance Company.
 APY
Providing pension for all citizens in the unorganised sector.
Age is 18-40.
Pension amount can be vary according to the age and
amount of the pension opted for.
Monthly /Quarterly/Half yearly/ Yearly contribution can
be done.
Administered by PFRDA.
The Account Holder has the option to select Pension
Amount of his/her choice any one of Rs.1000/‐, 2000/‐,
3000/‐, 4000/‐ and 5000/‐ per month.
Thank you