Savings Schemes at a Glance 1.3.11 Welcome. SAVING SCHEMES—AN OVERVIEW Savings Bank is an important agency work of DOP. A large percentage of revenue.

Slides:

Advertisements

Similar presentations

 Single account- Can be opened by any adult A minor of 10 years of age or more By guardian on behalf of minor  Joint account-  Two adults can open Account.

Advertisements

 If there are more than four monthly defaults, the account shall be treated as discontinued.  Revival of the account shall be permitted only within a.

About Us: We welcome you at Good Luck Infrazone. It would take a novel to go into everything about Good Luck. We are on our way to give every individual.

Warmup Why does the dollar on the left have value, while the one on the right does not? What is money? Define Salary? How does it differ from other types.

COUNTER OPERATION SCSS NEW ACCOUNT OPEN PROCEDURE SAME AS SB NEW A/C OPEN SEPARATE FORM FOR OPENING A/C AVAILABLE CHECK WHETHER A/C OPEN WITHIN ONE MONTH.

SNS SYSTEM Cooperative Society Software

Products & Services  Mail services  Financial services  Premium services  Retail Services  Philately.

Warmup Why does the dollar on the left have value, while the one on the right does not?

Saving Schemes at a glance 5/12/2015Rule No :. WHO CAN OPEN MAX. DEPNO. OF ACCOUNTSWHO CAN OPERATE Person of 18 yrs No LimitAny number but one in one.

15/08/2014PTC, Mys Recurring Deposit. SB-3 and pay in slip to be filled in. The following documents are compulsory – One copy of recent photograph.

Bank On It Personal Finance Unit. Why Learn About Banking?

5 th Meeting of ECO Postal Authorities June 2009 by Jamil Ahmed Additional Director General Pakistan Post 1 Enhancing the Role of Private Sector.

Introduction Business Scenario Finacle CBS Process Overview Key Terminologies Step by Step Process Demonstration Summary.

Introduction Business Scenario Finacle Process Overview Key Terminologies Functionalities Available Demonstration Summary.

Monthly Income Scheme. Monthly Income Scheme (MIS) Table of Contents Introduction Slide 2  Introduction  Business Scenario  Finacle Process Overview.

 MBA 7 PPF  Prashant S Sawant. PPF act 1968  Public Provident Fund  GOI wanted people to have some money for their old age.  The scheme is attractive.

KISAN VIKAS PATRA. Salient Features of re-launched Kisan Vikas Patra Kisan Vikas Patra relaunched on Denominations of Rs 1,000, 5000, 10,000.

OBJECTIVE 1)Define Savings Bank in market context

Types of deposit accounts Saving deposit;- Savings deposit account is meant for individuals who wish to deposit small amounts out of their current income.

Certificate of Deposit the term Certificate of Deposit or CD refers to money market instruments of relatively short duration or savings accounts that pay.

 MIS Account can be opened by:-  Single-  By an adult  A guardian on behalf of minor or person of unsound mind  A minor who has attained the age of.

Welcome To Savings Bank in PO.

Chapter 3, section 5 Money Market & CD Accounts. I can…  Calculate interest earned on special savings accounts  Calculate the penalty for early withdrawals.

Investment Planning Rtn.K.Raghu Past President Rotary Bangalore Peenya.

15/08/2014PTC, Mys Time Deposit. SB-3 and Pay in slip to be filled in The following documents are compulsory – One copy of recent photograph –

Provisions under Anti Money Laundering Act 3(a).1.

MARKETING OF SAVINGS BANK This session contains 1)Marketing philosophy 2)Customer’s loyalty 3)Types of customers 4)Strategic focus 5)CSI 6)SWOT analysis(based.

WELFARE MEASURES available to GDS employees

Agent Portal – Finacle CBS

Deceased Claim Cases.

 MBA 6 / SCSS  Prashant S Sawant. SCSS  Senior citizen savings scheme  Do not regret growing older. It’s a privilege denied to many.  Aug 2004, GOI.

Managing personal finances will not get so easier.

INSTITUTIONAL PAYMENT UNDER MGNREGS. Every person working under the Scheme shall be entitled to wages at the minimum wage rate fixed by the State Government.

ABP FY Income Tax related Financial Information Payroll and Trust Management.

We are dependable and trustworthy knowledge processing partner. Although we are a separate entity, we are an integrated part of your organization, like.

Senior citizen saving scheme account. An individual who has attained the age of 60 years An individual who has attained the age of 55 years or more but.

1 Public Provident Fund. Background Features Process Benefits.

RECURRING DEPOSIT ACCOUNT

Postal Revenue Audit Slide 7.2. Postal Revenue Slide 7.2 Sale of postal articles Commission on M.Os Postage realized in cash & franking machine resetting.

Day 1 Terms of the Day 1. Financial- having to do with money 2. Financial Management- how you manage your money 3. Financial Goal- something you wish.

CPSMS Project Cell O/o Controller General of Accounts Ministry of Finance, New Delhi Welcome all Participants to the Workshop.

Financial Accounting 1 Lecture – 23 Recap Bank reconciliation Balance in our bank book is usually a debit balance, but it can be credit in case of running.

New Issue Market Submitted to: Rutvi Mam Submitted by: Ashish Sakariya.

Tax Saving Investments A Guide To The Instruments That Can Help You Achieve The Goal Of Low Risk And High Capital Gains PREPARED BY: CA. JIMMIT D MEHTA.

All about TAX in Financial Year 2009 – – 2010 From -

COUNTY OF RIVERSIDE OFFICE OF THE AUDITOR-CONTROLLER Tax and Revenue Anticipation Notes (TRANS) Alma Avila, Senior Accountant April 21, 2005.

Simple Interest. Simple Interest – * the amount of money you must pay back for borrowing money from a bank or on a credit card or * the amount of money.

ABDUL RASHID MBAECM, MBA, MIS, CHRM, BA, DIP PRESIDENT PHONE ANTIQUA ROAD, MISSISSAUGA L5B 2T8 ONTARIO, CANADA.

Sunitha.S Assistant Professor School of Management Studies, National Institute of Technology (NIT) Calicut MONETARY ECONOMICS: Financial System.

Section 6.7 Financial Models. OBJECTIVE 1 A credit union pays interest of 4% per annum compounded quarterly on a certain savings plan. If $2000 is.

Miss Smith 7 th Grade Civics *pgs  Money in savings accounts earn interest  Money can be withdrawn when needed  Usually must keep a minimum.

* It is an account where the depositor deposits fixed amount of funds at regular intervals of time. * The interval can be month, quarter, 6 months, or.

NBFC Software, Credit Cooperative Society Software, RDFD Software.

Powered by PPF CALCULATION Powered by

What is Tax Saving Fixed Deposit?

An amount which is not wasted.

Grow your wealth with Utkarsh Small Finance Bank 7/12/20181.

Financial Institutions and Investments

Provisions relating to Internal Audit in The Companies Act, 2013

CHAPTER TEN COMPOUND INTEREST.

Miss Smith 7th Grade Civics *pgs

Find mv amount and rate.

Agenda Welcome NPO Teamspeak Projects Technical Finance Open floor

Section 7.7 Simple Interest

Overview of Financials

Deductions Under Section 80

Presentation transcript:

Savings Schemes at a Glance Welcome

SAVING SCHEMES—AN OVERVIEW Savings Bank is an important agency work of DOP. A large percentage of revenue is earned by DOP through these savings schemes. The schemes are formulated by Ministry of Finance. These Schemes are governed by Govt. Savings Bank Act DOP gets commission from MOF, per live account and per certificate sold and discharged. The rates of commission for are as follows Accounts----Rs Certificates---- Rs The rates of commission are revised from time to time. The amount deposited under the schemes is given to respective states as soft loan for their development

SAVING SCHEMES—AN OVERVIEW Looking in to the needs of all sections of the society, presently eight types of savings schemes are available in Post Offices. (a) Accounts types (b) Certificates types ACCOUNTS Saving account (SB) Recurring Deposit account (RD)

SAVING SCHEMES—AN OVERVIEW Time Deposit Account (TD) Monthly Income Scheme Account(MIS) Public Provident Fund Account (PPF) Senior Citizens Saving Scheme Account (SCSS)

CERTIFICATES Five Years National Saving Certificate (viii) Issue (NSC) (Maturity period revised as 5 years from 6 years w.e.f.1/12/2011) Ten years National Saving Certificate (ix) Issue (introduced w.e.f.1/12/2011)

LIMITS CATEGORYRate of InterestTYPEMINIMUMMAXIMUM SB4%SINGLE Rs. 50/- -For Cheque A/C Rs.500 No limit JOINTNo limit RD8.4% SINGLE RS. 10/-in multiple of Rs.5/- NO LIMIT JOINTNO LIMIT TD1 year 8.4% 2 year 8.4% 3 year 8.4% 5 year 8.5% SINGLE Rs. 200/ in multiple of Rs.200/- NO LIMIT JOINTNO LIMIT MIS8.4% NO BONUS SINGLE Rs. 1500/- in multiple of 1500/- Rs. 4,50,000/- JOINT Rs.9,00,000/- PPF8.7%SINGLE only Rs.500/- in a financial year Rs /- In a financial year SCSS9.2%SINGLERs.1000/- in multiple of Rs.1000/- Rs.15,00,000/- JOINT

Basic savings account Nil balance account Applicable to beneficiaries of all types of schemes run by Government. Only single account can be opened by an adult Cheque facility not available Other deposits by account holder allowed Scheme code is required to open account

Exercise

9