Government Deposit Scheme

Kisan Vikash Patra

Eligibility: KVP can be purchased by an adult for himself and by a minor who has attained the age of 10 years.
Joint account holders are allowed.
Amount: minimum Rs-1000and thereafter in multiple of Rs-100 for any amount, maximum- no limit.
Nomination: by the guardians in case account opened in minor.
Any number of certificate can be purchased.
Rebate under 80cc of income tax act not available.

Senior Citizen Saving Scheme

Eligibility: Indian resident more than 60 years or 55 years in VRS/Superannuation. 50years for defense persons.
Joint account allowed with spouse. A depositor operate more than one account in individual capacity or jointly with spouse. Subject to maximum 15.00 lac minimum amount 1000
Nomination: allowed
Extension: extendable for 03 years only for once.
Other: The interest payment under senior citizen saving account scheme is subject to dedication of tax.
Rebate under 20c income tax act is available.

Eligibility: An individual can open only one one PPF account in his/her own name.
An individual can also open account account on behalf of each minor or a person of unsound mind of when he is the guardian .
Joint account not allowed
Initial deposit Minimum-500 and thereafter in multiple of Rs-50 Maximum-1.5 lacs/PA
Withdrawal period 15 years.
Nomination is allowed.
No limit to deposit in installment.
One withdrawal every month after expiry of five years.
Closure is allowed any time after complete 15 years.
Premature closer is allowed after 5 years on account of medical ground/higher studies/Change of residency.
Loans & Advance: After one years of subscription and before expiry of 05 years from the end of the years in which the initial subscription was made.
Extended unlimited times for the block of 5 years every times after the expiry of 15 years.
Rebate under 80c of income tax act is available.

Eligibility: the account may be opened by one of the guardians in the name of a girl child. Who has not attained the age of 10 years as on the date of opening of account. Joint account not allowed.
Period: 21 years from the date of opening of account. Final clouser of the account may be permitted before completion of such period of 21 years. In case of marriage of the account holder.
Minimum deposit amount Rs-250 and Rs-50 in multiple.
No limit of number of deposit in a year or month. Deposit can be made upto 15 years from the date of opening of account.
Partial withdrawal is allowed at the time of child girl passing the 10^th class or attain the age of 18 years which is earlier.
Premature closer allowed in case of death of account holder/medical support of life threatening disease of account holder/death of guardians.
Extension not allowed.

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