The document discusses three government deposit schemes in India: the Public Provident Fund (PPF), Senior Citizens Savings Scheme (SCSS), and Sukanya Samriddhi Account Yojana (SSAY). The PPF allows individuals to deposit up to Rs. 1.5 lakh annually with interest of 7.6% compounded annually. It has a maturity period of 15 years but can be extended in blocks of 5 years. The SCSS is for senior citizens aged 60 or older and offers an interest rate of 8.3% on 5-year deposits that can be extended for 3 years. The SSAY aims to promote the welfare of the girl child and allows deposits of up to Rs. 1.5

1. GOVERNMENT DEPOSIT SCHEMES
(PUBLIC PROVIDENT FUND,
SENIOR CITIZENS SAVINGS SCHEME, 2004 &
SUKANYA SAMRIDDHI ACCOUNT YOJANA)
Prepared by,
Abinash Kr. Mandilwar
Chief Manager & Faculty Member,
Staff Training College, Bhopal

2. PUBLIC PROVIDENT
FUND

3. PUBLIC PROVIDENT FUND
 The Public Provident Fund Scheme is a statutory
scheme of the Central Government of India.
 Public Provident Fund Account (PPF Account) is a long
term Debt Scheme of Govt. of India on which regular
interest is paid.
 Any Individual (No joint a/c) in India can invest in this
scheme and can earn a handsome tax free return.
 NRIs, HUF, Company, Trust, Society are not allowed to
invest in PPF.
 No age is prescribed for opening a PPF account.
 Either father or mother can open PPF Account on
behalf of minor. In the death of parents, Grand parents
can open a PPF Account.

4. SPECIAL FEATURES OF PPF ACCOUNT
 The balance amount in PPF account is not
subject to attachment under any order or decree
of court in respect of any debt or liability.
 A Power of attorney holder can neither open or
operate a PPF account.
 Deposits are exempt from wealth tax.
 More than one person nomination facility
available.
 Best for long term investment.
 Bank of India is one of the best Bank where
deposits are accepted inter-sol and since it
provides better flexibility like standing
instructions through net Banking.

5. INVESTMENT IN PPF ACCOUNT
 Public Provident Fund Interest Rate is fixed by the Ministry
of Finance, Government of India, annually, and at present is
7.6% compounded annually (From 01/01/2018).
 The minimum initial deposit is Rs. 500/-, with multiple of
Rs. 100/- thereafter and maximum is Rs. 1,50,000/- in a F/Y.
 One deposit is mandatory in each financial year.
 The deposit can be in lump sum or in convenient
instalments, not more than 12 Instalments in a year or two
instalments in a month subject to total deposit of
Rs.1,50,000/- per FY.
 The discontinued account can be activated by payment of
minimum deposit of Rs.500/- with default fee of Rs.50/- for
each defaulted year.
 The deposit in a minor account is clubbed with the deposit
of the account of the Guardian for the limit of Rs.1,50,000/-.

6. FEATURES OF PPF ACCOUNT
 The Scheme is for 15 years.
 The account holder has an option to extend the PPF account for any
period in a block of 5 years on each time.
 The account holder can retain the account after maturity for any
period without making any further deposits. The balance in the
account will continue to earn interest at normal rate as admissible on
PPF account till the account is closed.
 Premature Closure: Allowed only after 5 years in the following cases:
1. On the death of the depositor (without any locking period),
2. That the amount is required for the treatment of serious ailments or
life threatening diseases of the account holder, spouse, dependent
children or parents, on production of supporting documents from
competent medical authority.
3. That the amount is required for higher education of the account
holder or minor account holder, on production of documents and
fee bills in confirmation of admission in a recognize institute in
India or abroad.

7. LOAN & PART WITHDRAWAL
 According to Public Provident Fund Scheme 1968, the facility
of loan against the PPF deposits is available from 4th to 6th
year of deposit to the extent of 25 % of the amount deposited
as at the end of the last financial year.
 The loan is repayable in 36 months.
 There is a lock-in period of 15 years and the money can be
withdrawn in whole after its maturity period. However, pre-
mature withdrawals can be made from the end of the sixth
financial year from when the commenced.
 The maximum amount that can be withdrawn pre-maturely is
equal to 50% of the amount that stood in the account at the
end of 4th year preceding the year in which the amount is
withdrawn or the end of the preceding year whichever is
lower.
 One withdrawal in each financial year is also admissible in
such account held beyond 15 years subject to a ceiling of
60% of the balance at the end of the 15 year term.

8. PUBLIC PROVIDENT FUND
 The PPF scheme is operated through Post Office
and Nationalized banks through its authorized
branches as per GOI notification. Presently Bank
of India is having 4032 authorized branches .
 Account is transferable from one Post office to
another and from Post office to Bank and from
Bank to Post office.
 Account is transferable from one Bank to another
bank as well as within the bank to any branch.
 Deposits in PPF qualify for rebate under section
80-C of Income Tax Act.
 The interest on deposits is totally tax free.

9. DOCUMENTS REQUIRED FOR
PPF ACCOUNT
 Documents for the PPF account are similar to the any
other account in banks.
 A recent passport size photograph.
 Identity Proof copy with original to verify ( Even PAN
Card may be accepted as all tax payers are having it).
 Address Proof copy with original to verify.
 Account opening form for PPF( available on Bank’s
website).
 Paying in slip for PPF a/c ( available on Bank’s website).
 Nomination form for PPF ( available on Bank’s website).
 Account number of the saving account in respective
bank ( if you are having you’re a/c with the Bank).

10. ANY QUESTION ?

11. SENIOR CITIZENS SAVINGS
SCHEME, 2004
.

12. SENIOR CITIZENS SAVINGS SCHEME, 2004
 It is a Government of India Product.
 Any depositor may open an TDR Account at any deposit
office with the amount of deposit in multiple of Rs.
1000/-, along with age proof.
 A depositor may operate more than one account subject
to the condition that deposits in all accounts taken
together shall not exceed the maximum limit of Rs.15
lakhs and provided that deposits by depositors shall be
restricted to the retirement benefits or Rupees Fifteen
lakhs whichever is lower.
 A depositor may open the account in individual capacity
or jointly with spouse.
 NRI's and HUF are not eligible to open an account under
these rules.

13. ELIGIBILITY
 An individual who has attained the age of 60
years and above on the date of opening of an
account.
 An individual of the age of 55 years or more but
less than 60 years who has retired on
superannuation or under VRS can also open
account subject to the condition that the account
is opened within one month of receipt of
retirement benefits and amount should not
exceed the amount of retirement benefits.
 The retired personnel of Defence Services
(excluding civilian Defence employees)
irrespective of the above age limits subject to
fulfilment of other specified conditions.

14. DEPOSITS AND WITHDRAWALS
 Period: All TDRs will be fixed for five years.
 Maturity: The deposit made will mature after the expiry
of five years from the date of opening of the account.
 Renewal: The depositor may extend the TDR Account
for a further period of three years after the maturity
period of five years. An application required within a
period of one year after the date of maturity period.
 Overdue Term Deposit: In case a depositor does not
close the account on maturity and also does not extend
the account, the account will be treated as matured and
the depositor will be entitled to close the account at any
time along with the interest at the rate of Post office
Savings Accounts from time to time will be payable on
such matured deposits up to the end of the month
preceding the month of the closure of the account.

15. PREMATURE CLOSURE OF ACCOUNT
 Withdrawal permitted after one year of opening the
account but with penalty.
 Depositor may be permitted to withdraw the deposit
and close the account at any time after the expiry of
one year from the date of opening of the account
subject to the following conditions:-
 In case the account is closed after the expiry of one
year but before the expiry of two years from the date
of opening of the account, an amount equal to one and
half percent of the deposit shall be deducted and the
balance paid to the depositor.
 In case the account is closed on or after the expiry of
two years from the date of opening of the account, an
amount equal to one percent of the deposit shall be
deducted and balance paid to the depositor.

16. ROI / NOMINATION
Rate of Interest:
 The deposit made under these rules shall bear interest
@ 8.3 % p.a. from 01/07/2017. Interest from the date of
deposit payable at the end of each calendar quarter e.g.
31st March / 30th June / 30th September / 31st
December. Compounding of interest not permissible.
 TDS on interest payable is applicable from begening.
 Deposits qualify for deduction u/s 80-C of Income Tax
Act on the deposits made in after 8th December 2007.
Nomination:
 The depositor may nominate a person or more than one
person, at the time of opening of the account or at any
time after the opening of the account but before its
closure.
 Nomination made by the depositor can be cancelled or
varied.

17. DEATH OF THE DEPOSITOR
 In case of death of the depositor before
maturity the account shall be closed and
deposit refunded on application in Form
F along with interest to the nominee or legal
heirs in case the nominee has also expired or
nomination was not made as per rules.
 If the total amount including interest payable is
up to Rupees one lakh, it may be paid to the
legal heirs on production of (i) letter of
indemnity (ii) an affidavit (iii) a letter of
disclaimer on affidavit (iv) a certificate of death
of the depositor on stamped paper in the form
as in Annexure to Form F.

19. SUKANYA SAMRIDDHI
ACCOUNT YOJANA

20. SUKANYA SAMRIDDHI YOJANA
Sukanya Samriddhi Yojana has been
introduced vide Government of India
Notification No. G.S.R.863(E) dated
December 02, 2014 and circulated to Banks
by Reserve Bank of India vide their letter
No.RBI/2014-15/494/IDMD(DGBA). CDD/No.
4052/15.02.006/2014-15 dated 11th March
2015. Facility to open accounts under the
scheme is available at all Bank of India
branches.
Objective: To promote the welfare of Girl
Child.

21. SUKANYA SAMRIDDHI YOJANA
 Who can open the account: The account may be
opened by the natural or legal guardian in the name
of a girl child.
 Age of girl child: Account can be open from the
birth of the girl child till she attains the age of ten
years.
Any girl child, who had attained the age of ten
years, one year prior to the commencement of
these rules, shall also be eligible for opening of the
account under these rules.
 Maximum number of accounts: Up to two girl
children or three in case of twin girls as second
birth or the first birth itself results in three girl
children.

22. SUKANYA SAMRIDDHI YOJANA
 Minimum and Maximum Amount of Deposit: Min.1000
of initial deposit with multiple of one hundred rupees
thereafter with annual ceiling of Rs.1,50,000/- in a
financial year.
 Tenure of the Deposit: 21 years from the date of
opening of the account.
 Maximum period up to which deposits can be
made: 14 years from the date of opening of the account.
 Irregular Payment/ Revival of account: By payment of
penalty of Rs.50 per year along with the minimum
specified amount per year.
 Maturity: The account remains operative for 21 years
from opening or till marriage of the girl child after
reaching the age of 18, whichever is earlier.

23. SUKANYA SAMRIDDHI YOJANA
 Operation of account:
1) The account shall be opened and operated by the
natural or legal guardian of a girl child till the girl child in
whose name the account has been opened, attains the
age of ten years.
2) On attaining age of ten years, the account holder that
is the girl child may herself operate the account, however,
deposit in the account may be made by the guardian or
any other person or authority.
 Transfer of account: The account may be transferred
anywhere in India if the girl child in whose name the
account stands shifts to a place other than the city or
locality where the account stands.

24. SUKANYA SAMRIDDHI YOJANA
 Premature Closure: Allowed in the event of
death of the depositor or in cases of extreme
compassionate grounds such as medical
support in life threatening diseases to be
authorized by an order by the Central
Government.
 Withdrawal : 50% of the balance lying in the
account as at the end of previous financial
year for the purpose of higher education,
marriage after attaining the age of 18 years.

25. SUKANYA SAMRIDDHI YOJANA
Interest on Deposit: As notified by the GOI,
compounded annually with option for monthly
interest pay-outs to be calculated on balance in
completed thousands. (Current rate @ 8.1 %
p.a. from 01/01/2018 ).
Tax Rebate: As applicable under section 80C
of the IT Act, 1961
NOTE: As this is a Govt. of India scheme,
customers are advised to visit, for latest
instructions / modification in the scheme.
http://www.nsiindia.gov.in/writereaddata/Fil
eUploads/SSA_GZT.pdf