Post Office Scheme: Investors eyeing the Post Office Savings Schemes need to take note of a new rule recently introduced by the post office. The authorities will now cross-verify investors’ Permanent Account Number (PAN) details with the data maintained by the Income Tax Department. This verification aims to ensure that PAN is linked with Aadhaar and to confirm the accuracy of the name and date of birth as per Aadhaar records.
Here’s a rundown of the various saving schemes offered by the post office along with their respective interest rates and frequency of interest payments:
- Post Office Savings Account: 4.0% interest rate, interest credited annually.
- 1-year Fixed Deposit: 6.9% interest rate, interest credited quarterly.
- 2-year Fixed Deposit: 7.0% interest rate, interest credited quarterly.
- 3-year Fixed Deposit: 7.1% interest rate, interest credited quarterly.
- 5-year Fixed Deposit: 7.5% interest rate, interest credited quarterly.
- 5-year Recurring Deposit: 6.7% interest rate, interest credited quarterly.
- Senior Citizen Savings Scheme: 8.2% interest rate, quarterly payment of interest.
- Monthly Income Scheme: 7.4% interest rate, monthly payment of interest.
- National Savings Certificate: 7.7% interest rate, interest credited annually.
- Public Provident Fund Scheme: 7.1% interest rate, interest credited annually.
- Kisan Vikas Patra: 7.5% interest rate, maturity in 115 months, interest credited annually.
- Mahila Samman Saving Scheme: 7.5% interest rate, interest credited quarterly.
- Sukanya Samriddhi Yojana: 8.2% interest rate, interest credited annually.
Investors are advised to ensure that their PAN is linked with Aadhaar to avoid any complications in their Post Office Scheme investments. This verification process is crucial for compliance with regulatory requirements and ensuring seamless transactions.
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