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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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