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Author: admin | Category: Loan For Car | Date: 14.02.2014

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Once quite popular with the investing community, post office small saving schemes have recently gone out of favour with the investors. In fact, with bank deposits giving over 9% return, NCDs of companies like Muthoot, Religare Finvest, Manappuram etc. To make these schemes catch up with other market instruments and following the recommendations of Shyamala Gopinath Committee, the government decided in November 2011 to link their interest rates with the market rate of interest. Earlier there were media reports that the interest rates on all small savings schemes have been made a€?floatinga€™ but later on Finance Ministry clarified that the interest rates will remain fixed till the maturity of the schemes except for PPF, for which the applicable rate will remain floating and will change on April 1 every year. The one thing I’m certain of is that it has made Public Provident Fund (PPF) a darling of a scheme for the investors, especially people in the 30% tax bracket who are looking for long-term investment avenues. Monthly Income Scheme (MIS) and Kisan Vikas Patra (KVP) have been the most popular schemes of post office with approximately 35% and 25% share respectively of the total outstanding of all small saving schemes put together. The changes have also taken the steam out of Monthly Income Scheme (MIS) by scrapping the payment of 5% bonus on maturity, which has been the most attractive feature of this scheme.
Post offices now have one more dish on their menu to offer – National Savings Certificates (NSCs) with 10 years of maturity. Interest rates offered on Senior Citizens’ Savings Scheme (SCSS), time deposits (TDs), recurring deposits (RDs) and saving bank accounts have also been hiked in line with the market rate of interest. Maturity periods of MIS and the older version of NSCs have also been reduced from 6 years earlier to five years now.
I think passive investors looking for a reasonable risk-free return, can consider parking their funds in these post office schemes. According to the post office they are still not very clear on the NSC IX issue which gives 8.9% interest. These wordings suggest that the interest earned on NSC (IX Issue) certificates is taxable and no TDS will be deducted out of the interest income at the time of the payment of interest, which is after 10 years. However, you are somewhat right in pointing it out that it is still not 100% certain whether these new 10-year certificates will qualify for 80C benefit or not.
I really dont appreciate the govt reducing interest rates in Post Office Schemes and doing away with schemes like KVP. If KVP is used for money laundering wouldnt you enforce KYC rather than doing away with the scheme. KVP was giving an effective rate of return of 8.41%, doubling the investment in 8 years and 7 months.
Personally I think one should definitely invest in equities, either directly or through MF route but ELSS is also a good product when it comes to tax saving along with equity participation.
Exempt-Exempt-Taxable (or EET) is proposed for many schemes once Direct Tax Code (DTC) gets implemented.
I have invested some amount of money in Post Office Monthly Income Scheme on 9th August 2006 and some amount on 21st August 2006. Hi Soumya… The maturity bonus on Post Office Monthly Income Scheme (MIS) remained discontinued for the investments done on or between Febryary 13th, 2006 and December 7th, 2007.


I know about post office bonus for BPM class employee, its urgent for know me because my mother working in post office sector as branch post master. Hi Nita… It is difficult to comment on this as we dont know how much return it will give you if you encash it now.
I would like to know how to reduce my tax liability on income generated from sale of inherited property. The amount of money you intend to pay on your own that is not covered by the loan you will be taking from a bank.
The coverage type you select determines the level of protection offered by your insurance policy. This is a discount that is offered by your insurance provider if you have not made a claim on your existing insurance policy for a certain number of years.
The Senior Economists of Australia’s major banks appear to be divided in their predictions relating to whether the Reserve Bank will reduce interest rates when the RBA Board meets on Tuesday. The great news for borrowers is that no-one is predicting any rises in the near future to the record low interest rates we are enjoying today. No hike in the interest rates of these schemes for quite a long period of time, higher interest rates on other instruments like bank fixed deposits, NCDs, tax free bonds etc.
It has also been announced that the rate of interest on small savings schemes will be aligned with the rates of government securities of similar maturities on April 1 every year. Though the interest chargeable on loan taken against your PPF deposits has been hiked to 2% p.a. November 30, 2011 due to apprehensions of it getting used for money laundering (parking unaccounted money). Though interest earned on all these schemes is taxable, these schemes have been left untouched as far as TDS is concerned except SCSS on which TDS is deducted if the interest amount is more than Rs 10,000 per annum. MIS and SCSS are the best investments for senior investors who desire regular stream of definite cash flows either monthly or quarterly. In case of premature closure of time deposits after one year, the deduction from the applicable interest rate has been reduced to 1% p.a. It is just a matter of time that these Post Office schemes will again become lucrative from the interest rate point of view once the inflation comes down and banks start cutting rates on their deposits seeking direction from the RBI. And if unaccounted money is placed there the govt is actually getting access to money which is not disclosed, why would they complain about it. Japan gave near zero interest rate on its bank deposits in the 1990s and is still performing poorly. Infact I did the same mistake by investing ELSS which are giving lower returns than PPF and NSC. As I said earlier, Sensex delivered around 600% returns between 2003 and 2008, I think some top performing ELSS schemes must have given even better returns. Is it wise to continue with it or which are the other safe schemes which will get more returns? Please check on the back of the certificate what amount you will get now and try to calculate your returns accordingly.


All interest rates, amounts and terms are based on a personal simulation by you and your assumptions of same. Comprehensive : Covers damage of your car as a result of fire, theft and damage (inclusive of third party damages). A rare opportunity to build your dream home situated in a breathtaking area consisting of only 29 homesites. It is important to mention here that KVP was a kind of bearer instrument as it did not carry the investor’s name on it, was freely transferable and no KYC requirements were there for one to invest.
SCSS continues to enjoy deduction under section 80C though it is likely to change once DTC comes into effect.
The fate of many of these schemes will undergo many changes with the onset of the DTC but let us see how things pan out as the applicability of DTC continues to remain in question given the way it has been deferred year after year.
If the idea is to encourage people to invest in share markets not too happy for the people in the lower income scheme.
India is growing between 6% to 9%, gave approximately 600% index returns in less than 5 years between 2003 & 2008. Cypress Point Estates provides the comfort and security community inside the confines of Oak Tree Golf and Country Club's 24 hour guarded perimeter.
Post office schemes are the only option outside banks for the low income group as a savings medium. PPF giving 8.8% tax free and qualifying for 80C benefits also, isnt it a good enough return for one’s long term investment? Indian household savings are amongst the highest in the world and less than 4-5% goes into equity.
Third E signies that the principal investment got back at the time of maturity will not be taxed. Select your homesite with large trees, backing to the golf course, pond or on a wooded cul-de-sac.
The effective rate of interest for a person in the 30% tax bracket works out to approximately 12.73%, which I think is amazing, considering it also gives you a tax deduction under section 80C. A loan facility of up to 25% can still be availed from the 3rd financial year till the 5th financial year while a withdrawal of up to 50% is allowed from 6th financial year onwards. What has helped the Japanese stay afloat through the decade of recession and extremely poor stock returns is their savings habit.
If somebody thinks these returns are not decent enough, then there are banks offering higher rate of interest. I think Indian households should take the full advantage of India’s growth story and actively share the returns generated by the stock markets.



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