UCO Bank- ppf-schemes

Schemes of earnings on the Internet 2020 kg

Content

    schemes of earnings on the Internet 2020 kg

    GSR E dated Present rate of interest is 8. In the latest Finance Bill, the scheme has been extended Triple exempt benefits i. A depositor may operate more than one account subject to the condition that deposits in all accounts taken together shall not exceed the maximum limit of Rs.

    schemes of earnings on the Internet 2020 kg

    A depositor may open the account in individual capacity or jointly with spouse. Eligibility: A person who has attained the age of 60 years or above. A person who has attained the age of 55 years or more but less than 60 years and retired on superannuation or otherwise.

    schemes of earnings on the Internet 2020 kg

    Defence personnel who has retired from the service on superannuation and has attained the age of 50 years. Deposits and withdrawals: There shall be only one deposit in the account in multiple of one thousand rupees not exceeding Rupees Fifteen lakhs.

    schemes of earnings on the Internet 2020 kg

    Permitted after one year of opening the account but with penalty. Mode of Deposit: The deposit under these rules may be made: cash, if the amount of deposit is less than Rupees One lakh.

    By cheque or demand draft drawn in favour of the depositor and endorsed in favour of the deposit office. Renewal: The depositor may extend the account for a further period of three years after the maturity period of five years.

    schemes of earnings on the Internet 2020 kg

    Interest on Deposit: The deposit made under these rules shall bear interest 8. Compounding of interest not permissible.

    The gold bond has been priced at Rs 5, per gram. However, the issue price has been fixed at Rs 5, per gram of gold for those investors who will apply online or make payment via digital mode. The RBI in consultation with the Centre has decided to offer a discount to such investors.

    Nomination made by the depositor can be cancelled or varied. Maturity The deposit made at the time of opening of account shall schemes of earnings on the Internet 2020 kg paid by the concerned deposit office after the expiry of five years from the date of opening of the account on production of the passbook accompanied by a written application In case a depositor does not close the account on maturity and also does not extend the account, the account will be treated as matured and the depositor will be entitled to close the account at any time subject to the condition that the post maturity interest at the rate as applicable to the deposits schemes of earnings on the Internet 2020 kg the Post office Savings Accounts from time to time will be payable on such matured deposits upto the end of the month preceding the month of the closure of the account.

    Death of the depositor In case of death of the depositor before maturity the account shall be closed and deposit refunded on application along with interest to the nominee or legal heirs in case the nominee has also expired or nomination was not made as per rules.

    If the total amount including interest payable is upto Rupees one lakh it may be paid to the legal heirs on production of i letter of indemnity ii an affidavit iii a letter of disclaimer on affidavit iv a certificate of death of the depositor on stamped paper in the form as in Annexure to Form F.

    schemes of earnings on the Internet 2020 kg

    Premature closure of Account On an application the depositor may be permitted to withdraw the deposit and close the account at any time after the expiry of one year from the date of opening of the account subject to the following conditions:- In case the account is closed after the expiry of one year but before the expiry of two years from the date of opening of the account, an amount equal to one and half percent of the deposit shall be deducted and the balance paid to the depositor.

    In case the account is closed on or after the expiry of two years from the date of opening of the account, an amount equal to one percent of the deposit shall be deducted and balance paid to the depositor.

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