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PRESENTED BY:PRAJOT MORAJKAR
RITESH CHODANKAR
KIZZY NUNES
SHAILEJA HARIJAN
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` No institution comes closer to human life as postoffice.
` Homing pigeons were used as the pigeon post.
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` functions under the brand name INDIA
POST.
` Widely distributed post office system in the
world.` India has been divided into 22 postal circles.
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India Post will be a socially committed, technology
driven, professionally managed & forward looking
Organization
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` Established 1854 in Goa.
` Separate postal treaty.
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` Savings account
` Monthly Income Scheme (MIS)
` Recurring Deposit
` Rate of interest 3.5% per annum
` Recurring Deposit
` Time Deposit
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` Parcel
` Bill Mail Service
` Media Post
` National Savings Certificate (VIII Issue)
` Surface Air Lifted (SAL)
` Express Parcel Post
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` 15 Years Public Provident Fund
` Kissan Vikas Patra
` National Savings Certificates (NSC)
` Postal Life Insurance
` Rural Postal Life Insurance
` Business Post
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` Launched on 2nd August 2004.
` Age limit for the scheme.
` Number of opening of account.
`
Non-resident Indians (NRIs) and Hindu Undivided Family(HUF) are not eligible to open an account.
` The individual may open one or more account in the multiple ofINR.1000/-, subject to a maximum limit of INR.15 lakh.
` Holder qualify for the benefit of Section 80C of the
Income Tax Act, 1961 from 1.4.2007.
` Five year scheme.
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` Submission of forms.
` 2 photo copy.
` Pan card.
` Particular book is maintained.` Interest calculated on actual amount.
` Interest is paid @ 9% Quarterly.
` 10% TDS on interest.
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` Interest is payable quarterly from date of deposit.
9% on actual amount. 1000 * * 9/100 = 22.5
Amount ofdeposit (Rs)
Amount of interestper quarter (Rs)
1000 22.5
2000 45
3000 67.5
4000 90
5000 112.5
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` Interest paid on pro rata basis. Amount of interest =Amount of deposit * Total number of days in quarter * Yearly rate of interest
Total number of days in year
example:A/c is opened 11/08/2004, interest will becalculated as:
1000 * 51 * 9% = 12.58
365
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` interest should be rounded off. Example
1000 * 51 * 9% = 12.58
365
i.e. 12.58 = 13
` Method of computation- Simple interest
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` No withdrawal before expiry of a period.
` Post Maturity Interest is paid as per the rate of PostOffice Savings Accounts.
` If holder expires amount is given to nominee.
` Premature closure of account.
After one year but before 2 years on deduction of 1
% of the deposit. After 2 years but before date of maturity on deduction
of 1% of the deposit
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`
Customer willingness.` Transfer charges Rs50.
Extension:` Extended for 3yr.
` No charges
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