DISTRICT MUZAFFARNAGAR

DISTRICT NATIONAL SAVING

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District National Savings office is situated at Old Planning Compound, Opp. D.A.V. College, Muzaffarnagar. The Head of the Department is Director, National Savings, 22-Vikas Deep, Lucknow  (U.P.). This office gives an opportunity to energetic, honest & hardworking men and women for making agents. The agents earn commission at prescribed rates as notified by the Govt. of India time to time.

An individual selected for appointment as agent should not be below the age of 21 years and possesses the following qualifications which may be relaxed in special cases by the appointing authority concerned.

An individual must be a person of integrity, preferable owing some immovable property or well known locally or vouched for by a person owing property or otherwise well known to the local authorities and sufficiently educated to transact the agency business and should possess conversing aptitude and be an influential person.

An individual desirous of being appointed as authorized agent (SAS) will make application to the appointing authority (Asst. Director (Saving)/Tehsildar/B.D.O. ) and for M.P.K.B.Y. Agents to O.C.N.S. through this office in the form A.A.S.-I and ASLAAS-I(B) respectively which available from this office with Ration card or Photo identity card issued by the Election commission, qualification certificates for address and age verification etc. and also affidavit at prescribed language by the Govt. of India, three passport size photographs and security in the form of N.Sc. Rs. 2000/- for SAS Agents and Rs. 500/- for MPKBY Agents respectively.

BRIEF DESCRIPTION OF THE ATTRACTIVE SCHEMES;

1. Saving Bank     Rate of Int. 4.5% Minimum Deposit Rs. 20/- Maximum Deposit Rs. 50,000/- in single account and Rs. 100000/- in joint account. No limit for Institutional Account. Interest is totally exempt from Income Tax.

2. Recurring Deposit       Account can be opened minimum Rs. 10/= or any amount multiple of        Rs.5/= as there is no maximum limit. Rate of Interest 10.5% quarterly compound. Accrued interest is exempt u/s 80-L of Income Tax.

3. Time Deposit               Minimum Rs. 50/= & maximum - No limit.

                                         1 year  Int. @ 8% quarterly compound

                                         2 yrs.   Int. @ 9%       "                "

                                         3 yrs.   Int. @ 10%     "                "

                                         5 yrs.   Int. @ 10.5%  "               "

4. Kisan Vikas Patra     Investment double in 6-1/2 years.

                                         Denomination - Minimum Rs. 100/= and Maximum Rs. 50,000/=

                                         Premature benefits at any time after expiry of 2-1/2 years.

5. Monthly Income  scheme - Rate of Int. 11% annually.

Minimum Rs. 6,000/- maximum Rs. 3.00 lacs in single account and Rs. 6.00    lacs in joint account. 10% bonus at the time of maturity.  Bonus & Interest payable is exempt under 80L of Income Tax Act.

6- 15-Year Public  Provident fund -

Account can be opened in Head Post Office and branches of S.B.I. and selected branches Nationalized Banks. Minimum Rs. 100/= and maximum Rs. 60,000/= can be deposited in a financial year. Rate of Interest @ 11% per annum which is completely tax free. Deposit qualify for Income Tax rebate u/s 88 of Income Tax Act. Loan facility is available from the IIIrd Financial Year, withdrawal is permissible every year from the seventh financial year. No attachment of an account under any court decree.

7. N.S.C. VIII Issue -

Rate of interest @ 11% half yearly compound Minimum Rs. 100/= and Maximum - No limit. Deposit amount is exempt u/s 88 of Income Tax Act and yearly accrued interest is reinvested u/s 80L of Income Tax Act.,

8- Pay Roll Saving Scheme:-

In Pay roll Savings scheme there is an arrangement to make savings a simple, regular and automatic for employees. Under this scheme employees give their consent to the employer to deduct the specified amount from their salaries for investment in Post Office, R.D. Scheme. The amount is deducted by the employer and the same is deposited in the concerned passbook in order to get this work done smoothly some employees are made as group leaders. They get commission at prescribed rate as notified by the Govt. of India time to time.

              SOURCE - Addl. District Savings Officer, Muzaffarnagar.

|DISTRICT DEVELOPMENT OFFICE|  DISTRICT RURAL DEVELOPMENT AGENCYFISHERIES| DISTRICT ECONOMICS & STATISTICAL OFFICEDISTRICT PANCHAYAT RAJ OFFICE | BAL VIKAS| DISTRICT URBAN DEVELOPMENT AGENCY|DISTRICT EMPLOYMENT OFFICE| DISTRICT SPORTS OFFICE| MUZAFFARNAGAR DEVELOPMENT AUTHORITY| PUBLIC WORKS DEPARTMENT|  RURAL ENGINEERING SERVICES| REGIONAL MARKETING OFFICE| DISTRICT INDUSTRY CENTRE| HOME PAGE| GOV.DEP.|