B-Comparison of SB
interest on Investment of a sum of Rs.60,000 for a
fixed period of 5 year
|
Sr. |
Scheme |
Rate of Intt |
Annual Intt/ PM intt |
Amt of Intt |
Amount at the end of fifth year |
Income Tax Concession |
Remarks |
|
1 |
5 yrTD |
7.5% |
4628.152
pa |
23140.76 |
83140.76 |
No |
Intt
calculated- compounded on quarterly basis. Intt will
be paid annually |
|
2 |
MIS |
8% |
400 pm |
24,000.00 |
84,000.00 |
No |
Intt
calculated annually Intt paid
monthly |
|
|
|
|
|
29,156.00 |
89,156.00 |
No |
If monthly
intt will reinvest in RD on auto credit system on request basis. Bonus not included being premature. |
|
3 |
PPF |
8% |
|
28,159.68 |
88,159.68 |
Yes. |
Investment
amt will qualify for tax deduction. |
|
4 |
SCSS |
9% |
1,350 per
qtr |
27,000.00 |
87,000.00 |
No |
Intt calculated
annually and payable quarterly |
|
5. |
RD |
7.5% |
|
25,780.00 |
85,780.00 |
No |
Amt is for
comparison purpose only. Actual intt is 12,890 for monthly deposit of
Rs.1000/- for 5 years. Intt calculated on compounded quarterly basis. |
|
6 |
KVP |
|
|
26,137.80 |
86,137.80 |
No |
Normal
maturity period of KVP is 8yr 7months. |
|
7 |
NSC |
|
|
22,614.00 |
82,614.00 |
Yes |
Normal
maturity period of NSC is 6 yr. If certificate is encashed prematurely after
5yr, a deduction will be made from the value. Investment amt will qualify for
tax deduction. |
|
|
|
|
|
28,824.00 |
88,824.00 |
Yes |
As per
rate of intt accruing annually. Amt not be paid physically. |