|
National Savings (Monthly Income Account) Scheme
INTRODUCTION:
-
Account matures in 5 years.
-
Minimum ₹ 1000/- & in the multiples thereof. Maximum ₹ 4.5 Lakhs in single account and ₹ 9 lakhs in Joint Account.
-
A depositor may operate more than one account under this scheme subject to the ceiling of maximum amount, which may be invested in single, or joint account.
-
A guardian may also open an account on behalf of a minor or a person of an unsound mind.
-
Account can be closed prematurely after one year but before the expiry of three years on deduction of 2% of the deposit. In case the account is closed after expiry of three years, 1% of the deposit shall be deducted.
Click for Scheme Rule(
1987 and
2019 )
|
|
| |