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FAQs
Small Saving Schemes
Sr. No. Topic
1. Is there a maximum limit on the investment I can make in a post-office Monthly Income Scheme account?
2. What is the minimum investment in the monthly income scheme?
3. Is there any restriction on the frequency of withdrawals from a savings bank account?
4. Are there any other practical difficulties I may face while withdrawing money from a savings bank account?
5. What is the procedure for getting my savings bank pass-book updated for interest earned and confirmation of balance?
6. I had opened an individual savings bank account, is it possible to get this account converted to a joint account? If yes, what is the procedure to be followed?
7. Can the income tax exemption under Section 88 be claimed by second named person in case of joint holding of National Saving Certificates?
8. Can one claim the section 88 benefit on interest on the NSC VIII scheme which is deemed to have been reinvested?
9. Will the rebate in income tax under Section 88 be available to husband/father where the NSCs (VIII-Issue) are purchased by him out of his income in the name of his wife/minor children?
10. If the holder of a Savings Certificate dies, who gets the amount due to be paid to the deceased?
11. If a girl makes a deposit and gets married by the time the deposit matures, would there be any problems?
12. Can the Karta of Hindu Undivided Family buy National Savings Certificates in the name of any member of the HUF?
13. Is the Post Office Recurring Deposit acount suitable for an increase in my investment?