Investment in monthly income scheme, Post Office Savings Accounts : Banknet India


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Name :	Rajeshwar
Subject:	Investment in monthly income scheme
Message :	The maximum limit of deposit in Monthly Income Scheme has been enhanced lo Rs. 4.50 lakh in single account and Rs. 9.00 lakh in joint account with effect from 1st August, 2007. Apart from Monthly Income Scheme, the maximum limit of deposit/balance is applicable only to (i) Post Office Savings Accounts (ii) Public Provident Fund and (iii) Senior Citizens Savings Scheme. There is no upper limit of deposit in respect of any other small savings scheme. The Senior Citizens Savings Scheme was launched on 2nd August 2004. The maximum limit of deposit under the Scheme is Rs. 15 lakh in single/joint account.

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