Postal Savings Schemes Lockup period, Extension and Premature Closures
|
Scheme |
Lockup Period & PMC |
Extension |
|
SB |
No time limit |
|
|
RD (5 Years) |
3 Years , SB Interest Rate |
One time for Next 5 years
|
|
1yr, 2yr 3yr TD |
After 6 Months , SB Interest Rate
After 1 year Scheme Interest for Completed Years ( Less 2% ) and SB Interest for remaining months |
Maximum of 2 times only after that PMI (SB Rate) only
Time limit - Option for extension may be exercised 1TD - Six months 2TD - Twelve months 3 TD - Eighteen months 5 TD - Eighteen months |
|
5yr TD |
4 Years for that accounts opened after 10.11.2023 & SB Interest Rate eligible |
|
|
SCSS (5 Years) |
Before 1 Year without any Interest After 1 to 2 years 1.5 % Discount After 3 to 5 years 1.0 % Discount
|
Extension Every 3 years Within 1 year of extension 1.0% Discount No any deduction after 1 year |
|
PPF (15 Years) |
Minimum 5 Financial Years treatment of serious ailments or life- threatening disease to the account holder, spouse 1% Discount from date of Opening |
Extension Every 5 years |
|
MIS |
1 Year After 1 to 3 years 2.0 % Discount After 4 to 5 years 1.0 % Discount |
No Extension
Reinvestment only |
|
MSSC ( 2 Years) |
After 6 Months , Less 2% Interest Rate from Date of opening |
No |
|
NSC (5 Years) |
No PMC by Depositor But Forfeiture by pledge anytime |
No Extension, Reinvestment only |
|
KVP |
2.5 Years , For interest please refer Interest Table |
No Extension, Reinvestment only |
Note : For death claim No lockup period but Interest varies scheme to scheme and periods
M. Rajendran, Sr. Supervisor, SBCO, Dindigul HPO.
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