A PROJECT REPORT ON POST OFFICE SCHEMES

A Mini Project report submitted to YA Government College for Woman in Chirala

in partial fulfillment of the requirement for the award of VI- Semester Degree

BACHELOR OF COMMERCE
IN TIIE DEPARTMENT OF COMMERCE

Submitted By

A.KAVYA SRI [REG NO.Y192016002]

A.KEERTHI LAVANYA [REG NO,Y192016003]
B.DURGA BHAVANT [REG NO,Y192016005]
BJAYA LAKSHMI [REG NO,Y192016007]
G.RUTHU [REG NO,Y192016009]
2019-2022 Batch B.com(General)_
Poro 1-l2-2o2 to 34-01-2022
Under the supervision of

Smt. M.Velanganni M.COM;SLET

Lecturer Department of Commerce

DEPARTMENT OF COMMERRCE
YA GOVERNMENT COLLEGE FOR WOMEN CHIRALA523155
ACHARYA NAGARJUNA UNIVERSITY GUNTUR
JANUARY-2022
 DECLARATION
We declare that this project work entitled POST OFFICE- SCHEMES " is a
bona fide project work in partial fulfillment of requirement for the award of
Bachelor of Commerce under the guidance and supervision of Smt
M.Velanganni, Lecturer in commerce ,YA Government college for Women in
Chirala. We also declare that this Group project report has not previously formed
the basis for the award of any degree, diploma, associate ship, fellowship or other
similar type of recognition.

Signature of the Member

A.KAVYA SRI [REG NO.Y192016002] 4 ovyosrW

A.KEERTHI LAVANYA [REG NO,Y192016003] ] wt ta.ta4
B.DURGA BHAVANI [REG NO.Y192016005]
0·09 el%a~'
B.JAYA LAKSHMI

G.RUTHU
[REG NO,Y192016007]

[REG NO.Y192016009]
8. Jo lkth
G. RR

Place: Chirala

- Date: 20.06.2022
 •

�=-=��==- ., A GOVERNMENT COLLEGE FOR \VOMEN

CERTIFICATE
This is to certify that the project report entitled "POST OFFICE- SCHEMES;
that is being submitted by A. KAVYA SRI [REG NO.
Y192016002]A.KEERTHI LAVANYA [REG NO.Y192016003],B. DURGA
BHAVANI[REGN0.Y1920160051,B.JAYALAKSHMI[REGN0,Y192016007],
G.RUTHU[REG NO,Y192016009] in partial fulfillment of requirement for the
award of 6 Semester Degree of Bachelor of Commerce (B.COM) , YAGC
(W),Chirala affialited to Acharya Nagarjuna University is a record of bona fide
work carried out by them under my guidance and supervision.Theres embodied in
the mini group project has nto been submitted to any other University
I

••
Sri. Y.SlHivasa Rao M.COM; M.Phil

Lecturer&Head
m9-
Smt .M.Velanganni,MCom,SLET

Project Guide

Department of Commerce Lecturer in Commerce

YAGC(W) CHIRALA YA GCW) CHIRALA

A
Place:CHIRALA

Date: 10. 06.2022-

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 ACKOWLEDGEMENT

We would like to take the opportunity to thank and express our deep sense of

gratitude to our mentor Smt M.Velanganni, Lecture in Commerce

College for Women in Chirala. We are greatly indebted to her for providing
her valuable guidance at all stages of the study, her advice constructive
suggestions, positive and supportive attitude and continuous encouragement,
without which it would have not been possible to complete the project.

We hope that we can build upon the experience and knowledge that we have
gained and make a valuable contribution towards this college in coming future

We express our sincere thanks to Sri. Y.Srinivasarao.,Head, Department

of Commerce and all the members of Department of Commerce,YA
Government College for Women in Chirala for their cooperation and help in this
regard.

We acknowledge our sincere thanks to Dr. Ch. Ramanamma, Principal YA

Government College for Women in Chirala for providing various facilities.

We would like to express our gratitude to our families and friends for their

timely support and cooperation in completing this report successfully. Above

all,we express our external gratitude to God Almighty under whose divine
guidance we been able to complete this work successfully.

Place: Chirala

Date: 80·06, 2022

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INDEX
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SI.N CHAPTERS PARTICULARS Pg.No

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CHAPTER-1 Introduction 1-6

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2 CHAPTER-2 Research 7-9
e Methodology
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CHAPTER-3 Post Office Profile 10-23

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. CHAPTER-4 Data and Analysis 24-34
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Findings,Suggestions 35-39
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5
&Conclusion
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6 Bibliography 40-42
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Annexure
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Chapter-1
Introduction
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 Post Office Savings Account
A Post Office Savings Account is one of the most popular and accessible savings
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accounts in India. The minimum opening amount as well as maximum balance that
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can be retained is Rs.500. Currently, the interest rate being offered for this account

r is 4.00% p.a. It can also be opened by a minor above the age of 10 in their own
name. Only one account can be opened as a single account by the individual. There
is no limit on the maximum amount that can be deposited in a post office savings
account. It is also eligible for tax exemption for interest of up to Rs.10,000 earned
- in a financial year (for all savings accounts combined) under the Income Tax Act
8OTTA.
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Post Office Savings Account is similar in many ways to a regular savings account.
It is considered to be a highly secure instrument to deposit funds into and offers the
option of full or partial liquidation of funds at very short notice in case the need
arises. These accounts generally offer a guaranteed return on investment and are
ideal for senior citizens and people who are looking to earn a regular income
without exposure to risk.

How to Open Post Office Savings Account

Follow these simple steps to open a post office savings account.

• Visit your nearest post office or the official website of India Post and get the
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application form.
• Fill the form with appropriate information
• Furnish the relevant documents, and a passport size photograph.
• Pay a deposit amount, which cannot be lower than Rs.20.

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 • If you want to get a post office savings account without a cheque book, you will
need to pay a deposit amount of at least Rs.50.
Single account holders can deposit a maximum of Rs one lakh while joint account
holders can deposit a maximum of Rs two lakhs. One of the main features of a Post
Office savings account is that there is no lock-in or maturity period. Opening an
account of this kind is relatively hassle-free, since one can walk into any post
office, complete the formalities with the clerk, and open an account immediately.

New Service Charges on Post Office Savings

If you want to open a post office savings scheme, keep in mind that a few service
charges are applicable as well:

+ Issuing duplicate cheque book: Rs.50

• Issuing deposit receipt: Rs.20 per receipt
•
•
Issuing account statement: Rs.20 per statement
• •

- • Cancellation or change of nomination: Rs.50

, Passbook issuance in lieu of missing or mutilated certificate: Rs.I0 per
registration
• Issuing a cheque book in Savings bank account: No fee will be charged up to IO
leaves in a financial year. (Rs.2 per cheque leaf thereafter)
For transferring an account, and pledging of an account: Rs.100
• Cheque dishonor fee: Rs. JOO

Eligibility to Open Post Office Savings Account

The following individuals are eligible to open a Post Office savings account

+ Minors with a minimum age of ten years

• A guardian on behalf of a minor
• Nomination facility is available at the time of opening the account and after

opening the account

• Interest earned is tax free up to Rs 10,000 per year
, Income tax relief is available on the amount of interest under the provisions of
section 80L of the Income Tax Act.
, The account can be transferred from one post office to another
+ Single accounts can be converted to joint accounts and vice versa
• Deposits and withdrawals can be done through any electronic mode in CBS Post
offices.
, Transactions can be done via ATMs

Post Office Savings Account Benefits

Customers who wish to open these accounts have access to cheque and ATM
facilities. Some attractive Benefits of Post Office Savings Accounts have been
listed below:
. . .
. Cheque
.
facility: Cheque facility
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is available and can be request for existing
.

accounts as well.
. ATM/Debit card: For those account holders who have maintained the
prescribed minimum balance on the day of issuance of the debit card, CBS Post
Offices can grant ATM/Debit cards.
. Minor Accounts: Post Office Savings Account is available to minors. For
minors below the age of 10, an account can be opened in their name, but the
parent or guardian will be given rights to operate the account on their behalf
Minors of I0 years and above can operate the account on their own.
. Portability: If you shift your residence or are not happy with the services of

the post office branch or for any other reason, you can shift your Post Office
Savings Account to a branch of your choice. Only one account can be opened in
one post office.
. Nomination: The facility to nominate someone is made available under these
accounts at the time of opening the account. The account holder can also choose
to nominate a person to receive the proceeds of this account after their demise at
any time.
. Joint }Ioldings: Two or three adults are allowed to hold an account together
under the joint account facility. A single account can be converted to a joint
account and vice versa.
. Tax Exemptions: Two or three adults are allowed to hold an account
•
together under the joint account facility. A single account can be converted to a
joint account and vice versa.
. Electronic Facilities: Customers can make withdrawals and deposits

through any electronic mode in CBS Post offices.

. Long period for Inactivity: In order to keep the account active you only
need to carry out one transaction of a deposit or withdrawal in 3 financial years.
The account will not be deemed inactive unless there are no transactions for 3
financial years.
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Chapter-2
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Research
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Methodology
 SIGNLFICANCE OF THE STUDY

A Post Office Savings Account is one of the most popular and accessible savings
accounts in India. The minimum opening amount as well as maximum balance that
can be retained is Rs.500. Currently, the interest rate being offered for this account
is 4.00% p.a. It can also be opened by a minor above the age of 10 in their own
name. Only one account can be opened as a single account by the individual. There
is no limit on the maximum amount that can be deposited in a post office savings
account. It is also eligible for tax exemption for interest of up to Rs.10,000 earned
in a financial year (for all savings accounts combined) under the Income Tax Act

80TIA.

OBJECTIVES OF THE STUDY

I. To analyse the various Post Office available to the Customers.

2. To understand how far these schemes are beneficial to the customers.
3. To analyse the availability and effectiveness f various Post Office schemes.

METHODOLOGY OF THE STUDY

The present study was conducted on the basis of both Primary data and

Secondary data. The Primary data was collected through offline survey method. A
detailed Questionnire was prepared to collect data from source like magazines,

journals, economic survey, and also from internet. For the study, bar diagram and
pie diagram etc arc used.

SAMPLING METHODS
In this procedure, units to be included in the sample are selected at the convenience
of the investigator rather than by any pre-specified or known probabilities of being
selected.

SAMPLING UNITS

This study covers 100 Post office customers.

DATA COLLECTION METHODS

We use both Primary and Secondary data for data collection. The Primary method
of data collection used in this study is Interview method with a structured
interview. Secondary data used in the project are magazine, articles, joumals,
'
economic survey, websites etc.

TOOLS AND TECHNQUES

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Simple statistical tools used for analyzing the data include percentages, tables, pie
diagrams and bar diagrams etc.

LIMITATIONS OF THE STUDY

• There might be errors due to this bias from the respondents.

• It is a representative study as we focused on customers belonging to rural

areas
• Due to time constraints the survey could be conducted on limited number of

participants and thus, deep and detailed study in certain cases was
obstructed.
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- Chapter-3
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Post Office
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Profile
 Features of Post Office Time Deposit Scheme

Mentioned below are the key features of the post office time deposit scheme-

• Deposits under post office time deposit schemes can have tenure of I, 2, 3 or

-- 5 years, and only one deposit can be made in one account

• This post office scheme promises

assured returns on the account holder's
� investments
accounts can be easily transferred from one post office to
• The time deposit
- another
- • Time deposit accounts can be either solely operated or jointly held
- • Account holders can extend the duration of a time deposit account upon its
maturity
• Jf proceeds of a mature account are not withdrawn, the account will be
automatically renewed for the original deposit tenure at applicable interest
rates as on the date of maturity
, There is no cap on the number of time deposit accounts that can be opened
, Minimum deposit required to invest in the Post Office Time Deposit scheme
is Rs.200. However, it must be noted that the amount to be deposited should
be in multiples of 200 only. If not, the amount in multiples of 200 will be
retained in the account and the balance will be refunded without any inetrest
• The central government has recently authorized all public sector banks and
some private banks like ICICI Bank, Axis Bank, and HDFC Bank to allow
investors to open POTD accounts
• Investors may consider POTD investments as alternates to Bank Fixed

Deposits
Eligibility Criteria

In order to be eligible to open a Post Office Time Deposit Account, the following
criteria must be taken into account-

+ All resident Indians can open and operate this account either singly or jointly
• A minor aged 10 years or more can open and also operate this account
• A parent/guardian can open a Post Office Time Deposit account on behalf of
a minor
Non-resident Indians are not allowed to open a Post Office TD account

The following groups/funds are not allowed to avail the Post Office Time Deposit
Scheme-

• Institutional account holders •

• Trust funds

• Regimental funds
• Welfare funds •

• Savings Funds
• Schemes
• Letters Received

Advantages of Post Office Time Deposit Schemes

The following are key benefits of investing in a Post Office Time Deposit
account:
-
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~ • Post Office Time Deposit Scheme provides guaranteed retum on investment
~ • 5 Year Time Deposits qualify for tax deduction under Section 80C of the
~ Income Tax Act
~ • Even minors aged 10 years and above can operate the account by themselves
-~ •
,
Nomination facility is available
The investments are quite flexible and be made with an amount as low as Rs.
~ 200 and with no maximum investment limit
- • Accounts can easily be transferred from one post office to another
~ + Premature withdrawal of deposits is allowed
~ , POTD investments are considered safer than FDs as the principal amount
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- invested and the interest earned are backed by sovereign guarantee

- • There is no cap on the maximum number of accounts that can be opened in

any post office
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+
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- Key Features of Post Office Monthly Income Scheme:
- The maturity period for the Monthly Income Scheme is 5 years. So, the customer
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- should ideally withdraw the amount after this duration. At the end of the term, the

- customer will receive all the funds that were invested in the scheme. He/she will
also receive the benefit of the fixed monthly income for the complete duration.
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- If the customer is compelled to withdraw the funds before 5 years, the following

- benefits will be payable:

- • Deposit withdrawal within I year- The customer receives no benefits.

- Deposit withdrawal between I and 3 years - The customer receives the entire
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•

deposit after a nominal deduction of2% as penalty.

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 • Deposit withdrawal after 3 years - The customer receives the entire deposit after
a nominal deduction of I% as penalty.
Other significant features of the scheme include the following:

, The investment is absolutely risk-free.

, The customer can choose to nominate another individual to receive the benefits
in the event of his/her unfortunate death.
, The scheme provides the option of a recurring deposit into which the funds can
be moved.
+ Even minors can invest in POMIS.
• The POMIS account can be transferred from one post office to another,
absolutely free of cost.
, For every deposit the customer makes at the post office, a separate account will

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have to be opened. The advantage here is that one person can open multiple
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accounts, up to themaximum possible account balance limit of Rs.4.5 lakh. This
is the total amount that can be invested by the customer, including his/her share
in all joint accounts.
. . .
The maturity amount that is received at the end of the investment term can be
reinvested in POMIS.
, There is no Tax Deduction at Source (TDS) for this scheme. However, the
interests earned through the investment in the scheme are taxable.
• The amount that is invested in POMIS is not eligible for tax rebates under
Section 80C of the Income Tax Act, 1961.
, The account can be opened by a cheque or cash. In case the customer chooses to
provide the initial payment through a cheque, the date of realisation of the
- cheque in the Government account will be the date of opening of the customer's
account.
, A joint account can be opened by two or three adults. All the account holders in
the joint account have equal share. A single account can be converted to a joint
account, if needed. The reverse is also possible.

Features of Post Office Senior Citizen Saving

Scheme (SCSS)
A post office senior citizen saving scheme makes a good investment option for people
who have retired as it offers an interest rate of 8.6% w.e.f October 01, 2019.
Below are the important features of post office senior citizen savings scheme:

• Post Office Senior Citizen Saving Scheme Multiple Accounts: In SCSS a

, This Scheme allows the nomination facility while oening
p or after the
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opening of the account. The depositor can nominate any person by filling
an application in Form C .
,-Post Office Senior Citizen Saving Scheme Account Transfer: The account
is easily transferrable from one post office to another.
• Post Office Senior Citizen Scheme Premature Closure: This scheme permits
pre-mature closure- after one year on deduction of 1.5% of the deposited
amount and 1% of the deposited amount after two years. Once the scheme
is matured, it can be further extended for three by filing an application
within one year of maturity. In that case, the Senior citizens saving account can
be closed without any deduction after the expiry of one year of the
extens1on
• Post Office Senior Citizen Scheme Tax Benefit: The depositor can claim tax
benefits under Section 80 C on the deposited amount.
Minimum and Maximum Deposit in Post Office
Citizen Scheme
The scheme offers a steady source of income with one time investment of a
fixed sum. However, the minimum limit of investment is Rs. 1000 and
maximum is Rs. 15 lakhs.

Eligibility Criteria to Open Post Office Senior

Citizen Saving Scheme Account
Minimum Age Criteria for Post Office Senior Citizen Scheme: 60 years

Special Age Criterion: 55 years to 60 years in case of voluntary retirement Or

superannuation. Provided the account is opened within a month of receiving
retirement benefits and the amount shall not exceed the retirement benefits.

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Post Office Interest Rates for Seriior Citizens
The interest rate on the post office senior citizen scheme is decided by the
Central govt. every year. Currently, it is 7.4% per annum (from October 01 to
December 31, 2021)

Post Office Senior Citizen Saving Scheme - List of

Documents
To make Investment in Post Office Senior Citizen Saving Scheme, the following
documents need to be submitted by the applicants:-
 , Fill the application form available at the Bank or Post office
• Fill The Know Your Customer (KYC) form
• Provide the Permanent Account Number (PAN) Card Number
• Address Proof
• Recent Photograph
• Age Proof
, Aadhaar Card
• Retirement Benefits' Disbursal Date

Also, the Applicant's Employer Certificate mentioning the retirement VRS or

Superannuation needs to be submitted.

How to Open Senior Citizen Saving Scheme in Post

Office?
To make payment by cash the amount should be lesser than Rs. I lakh and if it
is above Rs. I lakh then it possible to pay by cheque. Submit all the documents
that are mentioned above.

Carefully fill the SCSS Account Opening form while providing the nominee
details. Also, the original identity proof is required for verification purposes.
Finally, get a witness signature and complete the procedure to get started.

In order to automate the scheme, it is required to have a saving bank account

and place a request for automatic transfer of Senior Citizen Scheme interest to
the RD account through the depositor's Post Office Savings Account-
Online Payment Facility for Post Office Senior
Citizen Saving Scheme
Online payment facility is only available for Post Office RD account through
ECS or Electronic Clearing Service. Also, one can get the payment done from
an agent through the post office agent portal and he can make the payment
online on the behalf of the depositor.

It is better to check with the post office branch to seek clarity regarding the Post
Office Senior Citizen Scheme online payment.

Hope the above information proves to be helpful in case you want to open an
SSCS Account in the Post office. Below are some of the frequently asked
questions that you can refer to.

•
Eligibility Criteria for opening a PPF account in Post
Office
The following are some key eligibility criteria for opening a post office PPF
account:

• Any resident Indian including salaried, self-employed, pensioner, etc. can

open a PPF account at a post office

• The total number of PPF accounts including post office PPF account that an
individual can open is restricted to one and joint operation is not allowed.
 • Minor PPF account can be opened at a post office by a parent/guardian on
behalf of a minor child. This too is restricted to one minor PPF account per
child
, Non-residents are not allowed to open a new PP account. However, in case
a resident Indian becomes NRI prior to maturity of the PPF account, he/she
can continue operating the account till maturity

Documents Required for Post Office PPF Account

To open a Public Provident Fund Account at the Post Office, you need the
following documents-

I. Identity proof- Voter ID, Passport, Driving License, Aadhaar Card

2. Address Proof- Voter ID, Passport, Driving License, Aadhaar Card 4
•
3. PAN Card
4. Passport size photograph
5. Nomination Form- Fonn E

Post Office PPF Account Opening Procedure

The process of Post Office PPF account opening is currently paper-based and
requires physical presence at a nearby post office. The following are the key steps
of the account opening process:

• You need to get the application form from the nearby India Post
- Office/online and fill it out
• The completely filled out form can be submitted at a nearby India Post
Office along with self-attested copies of required KYC documents
 •
•

(Aadhaar/PAN/Voter ID, etc.), photographs, etc. Ensure that you cany the
original KYC documents with you for verification purposes
, You will also need to deposit an initial amount using draft/cheque (min. Rs.
100) for account opening. However, the minimum annual contribution
required for the scheme is Rs. 50O
, Once your post office PPF account is up and running, a passbook for the
account is printed and provided to you. It contains key account details
including PPF account number, balance, etc.

How to deposit money in your Post Office PPF

account online?

Post Office PPF account holders can deposit money online through India Post
Payment Bank (IPPB) app. Follow the steps to deposit money in your post office '
PPF account-

Step 1: Install and set-up the IPPB app from your mobile's respective app store

Step 2: Add money from your bank account to your IPPB account

Step 3: Navigate to the Department of Post (DOP) services section

Step 4: Choose the type of account you want to access. In this case, the Public
Provident Fund account

Step 5: Enter your PPF account number and DOP customer ID

Step 6: Enter the amount that you want to deposit and select the 'Pay' option

Step 7: Verify all the details and proceed

 •

You will be notified after a successful payment transfer via the IPPB app.

PPF Loan and Partial Withdrawal in Post Office

The following are some key rules of loan against post office PPF:

When can you take the loan?

Though the post office pp account matures in 15 years, you can avail a loan
against the account from the 3" year onwards to the 6" year counted from the date
of account opening. Only one loan can be taken in a financial year. Second loan
will not be provided unless the first loan is paid in full.

How much interest is applicable on PPF Loan?

l i
• Interest will be applicable at 1% p.a. if the loan is repaid within 36 months
~ of taking the loan
• Interest will be applicable at 6% p.a. if the loan is repaid after 36 months of

taking the loan

How much loan can you take from your PPF balance?

The maximum PPF loan amount is capped at 25% of the PPF account balance at
the end of the 2nd Year that immediately precedes the year during which the PPF
loan has been applied for.

Partial Withdrawal from Post Office PPF Account

 •

From the 7th year onwards (from the account opening date), you can make partial
withdrawals every year till the maturity of the post office PPF account. The
maximum partial withdrawal permissible equals 50% of the PPF account balance
at the end of the 4th preceding year or the year immediately preceding the year of
withdrawal.

Key Features of Post Office PPF Account

- The following are some key features of a PPF account opened at a post office:

, The maximum deposit allowed in a PPF account during a financial year is

Rs. 1.5 lakhs
, The nwnber of deposits allowed into a post office PPF is capped at 12
annually
• ' '
PPF is an EEE (EEE) investment i.e. the principal amount invested, the
interest earned and the maturity amount are all tax-free
, Minimum annual investment required to keep the account active is Rs. 500
• Interest on post office PPF account is compounded annually and paid out on
31st March every year

Benefits of opening a Post Office Public Provident

Fund (PPF) Account

Here is a list of benefits of opening a post office public provident fund (PPF)
account;
• •

• The interest rate associated with Post Office PPF account is comparatively
higher than several other saving schemes as well as bank Fixed Deposits.
The current rate of interest is 7.1% for Ql of FY 2022-23
Since it is a government-backed saving scheme, investors can enjoy safe and
secure investments for long-term
• The minimum investment that should be made in a financial year is Rs. 500
which is great for those who cannot invest a huge sum of money
• Investors can enjoy EEE tax benefits under which the principal amount, the
interest earned, and the maturity amount are exempt from taxes
, You can open a post office PPF account either by cheque or cash, whichever
is more convenient
• The maturity period of PPF account is 15 years. However, you can extend
the same in blocks of 5 years. after the original maturity date is reached, with
or without making fresh contributions I
•I • You can avail the nomination facility
• Premature withdrawals are also allowed but only after completion of 5 years
of continuous investment
+ Investors can also avail loan facility from the 3rd financial year
Data Analysis
 •

L.Do you have an account an Post Office?

a.Yes b.No

TABLE 4.1

Opinion Respondent Percenta e

Yes 100 100%
No NIL 0%
Total 100 100%

CHAT 4.1
,
4

100
90
80
70
60 No
50 Yes
40

-
30
20
10
0
Respondents Percentages

Interpretation:100% of the public have shown interest in opining Post Office

ale because of safety and more benefits compare to others banks.
 •

2. What kind of schemes did you open in Post Office ?

a.Savings a/c b.Time Deposit a/c c.Kissan Vikas a/c d.Others

TABLE 4.2

Kinds of Schemes Res ondent Percenta es

Savinos Scheme 50 50%
Time De sit Scheme 10 10%
Kissan Scheme 30 30%
Others 10 10%
Total 100 100%

CHAT 4.2

Respondent

' a Savings Scheme

Tee Deposit Scheme
KissanScheme
Others

Interpretation: 50% of the respondent have opened savings ale and 30% of

the respondent have opened Kissan a/c because of more interest is paid to the
customers on these Schemes.
 •

3. What is the amount you pay in monthly Post Office?

a. 1000/- b.2000/- c.3000/- d.5000/-above

TABLE 4.3

Monthl Income Respondent Percentate

1000/- 70 70%
2000/- - -
3000/- - -
5000/-and above 30 30%
Total 100 100%

CHAT 4.3

Respondents
a Percentages

-
No Total

Interpretation:70% of the respondents have deposited 1000/- monthly

because customers are of low income group. And only 30% of the respondents
have deposited 5000/- monthly because only few customers belong to high income
group.
4. How much is the principal amount invest in your deposits account?

a. 1,00,000/- b.3,00,000/- c.4,50,000/- d.5,00,000/-

TABLE 4.4

Principal Amount Res ondent Percenta es

1,00,000/- 60 60%
3.00.000/- JO 30%
4.50.000/- 10 10%
5,00.000/- 0 0%
Total 100 100%

CHAT 4.4

Percentages
Respondent

-
1,00,000/- 3,00,000/- 4,50,000/- 5,00,000/-

Interpretation:60% of the respondents are opening 1,00,000/- as fixed

deposit because of their low income and only 10% of the respondents are opening
4,50,000/- as fixed deposit because the ratio of high income level is less.
 •

5. What is the interest rate you receive on your savings?

a.4.0% b.5.5% c .S.8% d.7.8%

TABLE4.5

Interest Rate Res ondent Percenta es

4.0% 30 30%
5.5% 40 40%
5.8% 10 10%
7.8% 20 20%
Total 100 100%

CHAT 4.5

• '
4000.00%

3000.00%

interest Rate
2000.00%
Respondent
1000.00% Percentages
Percentages
0.00%
Interest Rate
1 2 3 4

Interpretation:40%of the respondents are received 5.5% as interest basing on

their deposit amount and 30%of the respondents arc received 4.0% as interest
because of more deposit amount.
6. What is the loss if the amount is drawn before the stipulated period?

a. Cannot withdraw the amount before I year

b.Low rate interest

c. Nominal changes levied

TABLE4.6

Loss an Polie Res ondent Percentages

Cannot withdraw the 0 0
Amount before I vear
Low rate interest 50 50%
Nominal Cham.es levied 50 50%
Total 100 100%

CHAT 4.6

4
Respc ndents •

a Total

Interpretation: 50% of the respondents stated that if the policy is surrendered

before the maturity period then they would receive the principal amount with less
interest rate ,50% of the respondents stated that they would.receive the principal
amount with nominal charges levied.
 7. How Post Office is beneficial than other banks?

a.Safety b.No risk c.Runned by Govt

TABLE4.7

Opinion Res ondent Percenta es

Safet 40 40%
No Risk 10 10%
Runnedb Govt 50 50%
Total 100 100%

CHAT 4.7

Respondent
'

Safety
NO Risk
Runned by Govt

Interpretation:50% of the respondents stated that deposits in Post Office is

beneficial because it is runned by Government and 40% of the respondents stated
that deposits in Post Office is beneficial because it is safe.
 •

8. What is the amount you invest in Monthly Income Scheme?

a.3,00,000/- b.4,00,000/- c.4,50,000/- d.above 10,00,000/-

TABLE 4.8
Month Income Scheme Res ondent Percenta es
3,00,000/- 80 80%
4.00.000/- 20 20%
4,50.,000/- 0 0%
Above10,00,000 0 0%
Total 100 100%

CHAT 4.8

90
80
•
70
I•
60 I'
50

•·
I'
■I••.
.,
40 Respondent
30 Percentages
20
10
I'
0
3,00,000/- 4,00,000/ 4,50,000/. above
10,00,000/-

Interpretation: 80% of- the respondents stated that 3,00,000/- Monthly

Scheme is preferred because this Scheme has more benefits.
9. Are you satisfied with Post Office facilities?

a.Yes b.No

TABLE 4.9

0 inion Respondent Percentages

Yes 100 100%
No 0 0%
Total 100 100%

CHAT4.9

100
90
80
70 •
60 { /
50 Yes
40
30
20

// Respondent Percentages

Interpretation:100% of the respondents are satisfied with Post Office

because of the facilities and services it renders.
 Findings,
-
4

Suggestions &
Conclusion
 •

FINDINGS
100% of the public have shown interest in opening Post Office a/c
because of safety and more benefits compare to others banks.
❖ 50% of the respondents have opened Savings ale and 30% of the
respondents have opened Kissan a/c because of more interest is paid to the
customers on these Scheme.
• 70% of the respondent are deposits 1000/- monthly because many customers
in low income group. And only 30% the respondents are depositing 5000/-
monthly because only few customers belong to high income group
• 60% of the respondents are opening 1, 00,000/- as fixed deposit because of
their low income and only 10% of the respondents are opening 4,50,000/-as
fixed deposit because the ratio of high income level is less
• 49% of the respondent s are receive 5.5% as interest basing on their deposit
amount and 30% of the respondents are receive 4.0% as interest because of
more deposit amount.
• 50% of the respondents stated that if the policy is surrendered before the
maturity period then they would receive the principal amount with low
interest rate 50% of the respondents stated that they would receive the
principal amount with nominal charges levied.
• 50% of the respondents stated that they are satisfied with deposits in Post
Office because it is runned by Government and 40% of the respondents
stated that they prefer Post Office because it is safe.
80% of the respondents stated that 3,00, 000/- Monthly Scheme is preferred
because this Scheme has more benefits.
❖ I 00% of the respondents are satisfied with Post Office because of the
facilities and services it renders

' '
-
-
-
-
-
- SUGGESTIONS
-
-
- Post Office is offering less interest for Time Deposit &Kissan if
- more interest is provided then maximum customers will choose to
- save in Post Office.
- ❖ More benefits should be provided for less amount of savings namely
- 2000/-, 3000/- &5000/- so that more savings can be accumulated for
-
- small savings.

- • More interest should be provided for the policy namely 3,00,000/-

- and 5,00,000/- so that average people can also save in such policies.

-' ❖ As Post Office is offering low rate of interest public choose to save
so' Post Office should also provided more interest to be on
- in banks,

- for with the banks.

- ❖ It the amount is taken before maturity period there are many losses

- and expenses charged on the customers, this should be taken into

- consideration for the upliftment of Post Office.

- ❖ Online facilities should be provided like other banks so that the

~ customers can online transaction at home also.

~ Monthly investment is charging low amount for low level custmores

~ at ease but benefits or facilities are not much provided which should

~ be taken into consideration.

~
~
~
~
~
~
~
-
 CONCLUSION

> The Post Office is very helpful for use. It helps us in many ways.
> We send receive our letters through the Post Office. It is a branch of the
Indian Postal Department.Formerly there was no Post Office.
> The letters were sent and received through messengers across the
country. It was expensive because of the distance.
> But currently, We do not face that kind difficult.
> Everything has changed since that day, Post Office runs by Government
of India, So many Employees like Postmasters.
> Post peon, etc. are employed in the Post Office. They help us so much in
our work.
•
> Now-a-days Post Office is providing such a services that no other bank
is offering at present.
> Asit is a Government Undertaking it is 100 percent risk-free.
 BIBLIOGRAPHY
https://www.paisabazaar.com/saving-schemes/post-office-time-deposit-schemes/

https://www.policybazaar.com/life-insurance/investment-plans/articles/post-office-monthly-
income-scheme/
senior-citizen-
https://www.policybaaat.com/life-insurance/investment-plans/articles/post-office
saving-scheme/

https://www.bankbazaar.com/saving-schemes/post-office-savings-account.html
https://www.paisabazaar.com/saving-schemes/post-office-ppf-account/

' 'I
;
 •

ANNEXURE
QUESTIONNAIRE
Name ofrespondent .

Caste Religion Age .

Gender Village .

I .What education qualification do you have?

a. Lower Primary b. Upper Primary e. SSC d. Inter e. Gradute f. Illiterate

2.How many members are in your family?

a.2 b.3 c.4 d.5 e. 6 and above

I
3.Family members involved in economic activity? I
I '
Activity Member

a. Agriculture •

b. Non-Agriculture
c. Home-maker
d. Student
e Nil
.
4,What is the main source of income of your family?

A.Agriculture activities b.Non-Agricultuer activities

5. What activities do you canry out during spare time?

A.Daily wage working b.Idle conditions c.Do household activity d.Others

6. Do you have an account in Post Office?

 a.Yes b.No

7. What kind of schemes did you open in Post Office?

= a.Savings ale b.Time Deposit a/c c.Kissan Vikas a/c d.Others

�
8.What is the amount you pay in monthly Post Office?

= al000/- b.2000/- c.3000/- d.5000/-above

a
9.How much is the principal amount invest in your deposits account?

= a,1,00,000/- b.3,00,000/- c.4,50,000/- d.5,00,000/-

10.What is the interest rate you receive on your savings?

A

= a.4.0% b.5.5% c.5.8% 4.7.8%

, I \.What is the loss if the amount is drawn before the stipulated period?

a.Cannot withdraw the amount before l year

b.Low rate interest

c. Nominal changes levied

12.How Post Office is beneficial than other banks?

a.Safety b.No risk c.Runned by Govt

R 13.What is the amount you invest in Monthly Income Scheme?

a.3,00,000/- b.4,00,000/-.c.4,50,000/- d.above 10,00,000/-

0
14.Are you satisfied with Post Office facilities?

a.Yes b.No
p