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5 years which can be extended by 3 more years
The interest is paid as per the rate declared by Government of lndia from time to time. Present rate of interest is 8.3% p.a. w.e.f. 01.07.2017.
Interest is fully taxable.
Yes, Tax will be deducted at source.
Rs. 15 lakh
60 years (55 years for those who have retired on superannuation or under a voluntary or special voluntary scheme). The retired personnel of Defence Services (excluding Civilian Defence Employees) shall be eligible to invest irrespective of the age limits subject to the fulfilment of other specified conditions
Available after one year of holding but with penalty
Not transferable to others
Nomination facility is available
Accounts can be held both in single and joint holding modes. Joint holding is allowed but only with spouse.
At any of the -913- designated branches
Non resident Indians, Persons of Indian Origin and Hindu Undivided Family are not eligible to open an account under the scheme.
Transfer of account from one deposit office to another in case of change of residence is permitted