Investment doubles in 8 years 7 months. Encashment at any time after expiry of 2 ½ Years from the date of issue of certificate at any Post Office. NRIs & HUF not eligible. Nomination facility is available. Post maturity interest is also admissible at the rate applicable from time to time (at present 3.5%).-Minimum Investment Rs. 500/- No maximum limit.
-Rate of interest 8.40% compounded annually.
-Money doubles in 8 years and 7 months.
-Two adults, Individuals and minor through guardian can purchase.
Companies, Trusts, Societies and any other Institution not eligible to purchase.
Non-Resident Indian/HUF are not eligible to purchase.
-Facility of encashment from 2 ½ years.
-Maturity proceeds not drawn are eligible to Post office Savings account interest for a maximum period of two years.
-Facility of reinvestment on maturity.
-Patras can be pledged as security against a loan to Banks/Govt. Institutions.
Patras are encashable at any Post office before maturity by way of transfer to desired Post office.
-Patras are transferable to any Post office in India.
-Patras are transferable from one person to another person before maturity
-Duplicate can be issued for lost, stolen, destroyed, mutilated and defaced patras.
-Nomination facility available.
-Facility of purchase/payment of Kisan vikas Patras to the holder of Power of attorney.
-Rebate under section 80 C not admissible.
-Interest income taxable but no TDS
-Deposits are exempt from Wealth tax.
