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Small Savings Directorate under Finance (Audit)

Small Savings Directorate, under Finance(Audit) Department, Government of West Bengal, alerts the public through a publicity program, not to deposit their toilsome money in any Non-Banking concern or Cheat Funds because many people are deprived financially for their such innocent works. The Slogan of the Small Savings Directorate is “SAVE YOUR MONEY, ONLY IN POST OFFICES THROUGH SMALL SAVINGS SCHEMES, FOR YOUR BETTER AND SECURED FUTURE.”

  • MOTIVES FOR SMALL SAVINGS
    • To alert all the public against the evils of Non-Banking concerns especially Cheat Funds, and not to deposit any money in Non-Banking concerns. All the public is directed to save their money in the post offices through Small Savings Scheme because Post Office is the Self Government Concern. Savings in Post offices are the best and wisest policy for a better, secure, and brighter future.
    • Small Savings Schemes are the best because there is attractive interest, Tax deduction rebate, and no tax deducted at source during the investment or at the time of maturity.
    • Money can be deposited in Post Offices through Small Savings Schemes, either by the Small Savings agents or at the counter of the Post Offices. Taking of money receipt is mandatory.
    • To know more details about the Small Savings schemes, the public is requested to contact the office of the Deputy Director, Small Savings, and the nearest post offices.

ATTRACTIVE SMALL SAVINGS SCHEMES WITH SALIENT FEATURES

  1. RECURRING DEPOSIT SCHEME:-
    1. This scheme is effective for all people. Duration: 5 Years.
    2. The account can be opened either single or jointly with only Rs. 10.00 P.M. with No ceiling of maximum deposit.
    3. After completion of 3 years amount can be withdrawn prematurely. Interest is compounded quarterly.
    4. No ceiling for the A/C opening.
  2. KISHAN VIKASH PATRA:-
    1. Very attractive scheme for investors. Money can be doubled shortly. No maximum ceiling for investment.
    2. Kishan Vikash Patra (K.V.P) can be purchased for a minimum of Rs. 1000.00 or multiple amounts.
    3. Pre-mature can be done after completion of 2 years and 6 months from the date of investment.
  3. NATIONAL SAVINGS CERTIFICATE:-
    1. It is one of the best rebate schemes for Income Tax payees. There is no limit to maximum investment.
    2. Interest is calculated on the basis of Compounded rate half yearly.
  4. PUBLIC PROVIDENT FUND:-
    1. Rebate of Income Tax on the deposited amount, accrued interest is totally income tax-free.
    2. The maximum yearly deposit is Rs. 1.5 lac. The total deposited amount is out of croak by the court.
  5. POST OFFICE MONTHLY INCOME SCHEME:-
    1. The account can be opened in the name of Single or Jointly by the minimum investment of Rs. 1500.00.
    2. The maximum ceiling for a single is Rs.4.5 lacs and jointly Rs. 9 lacs. Duration 5 years. Interest is accrued monthly
  6. SENIOR CITIZEN SAVINGS SCHEME:-
    1. People aged 60 years or above can deposit a maximum of Rs. 15 lacs either single or jointly.
    2. Interest is accrued quarterly. Duration 5 years. One of the investors must be 60 years or above.
  7. TIME DEPOSIT SCHEME:-
    1. Accounts can be opened by investing a minimum of Rs. 200.00 or multiple. Duration 5 years.
    2. Rebate on income tax is available under Income Tax Rule 80/C.
  8. SUKANYA SAMIRIDDHI YOJONA:-
    1. The account can be opened in the name of the daughter from her birth to 10yrs old, by investing Rs.250/- or it’s multiple.
    2. The yearly maximum deposit ceiling is Rs.1.5 lacs.
    3. The account can be discontinued after the completion of 21 yrs age or on the ground of the daughter’s marriage after 18 yrs old.

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The Website of India Post is: https://www.indiapost.gov.in/