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LIC Product and Forms
LIC OF INDIA
 
Postal Schemes
National Saving Scheme Accounts, 1987 (NSC)
Period during which opened Minimum
Amount of
Deposit (in Rs.)
Maximum
Amount of
Deposit (in Rs.)
Rate of Interest
per annum
From To
10.04.87 31.03.88 100 20,000 11%
01.04.88 21.06.90 100 30,000 11%
22.06.90 31.03.92 100 40,000 11%
01.04.92 28.02.2003 No deposits allowed 11%
01.03.2003 onwards No deposits allowed 7.5%

Income Tax at the rate of 20% of the amount withdrawn should be deducted at source at the time of withdrawal when the amount withdrawn in Rs. 2,500/- or more. However, no such deduction is made upto withdrawal of an amount of Rs. 50,000/- if depositor furnishes a declaration in Form 15-L.

 
National Saving Scheme Account, 1992 (NSC)
Period during which opened Minimum
Amount of
Deposit (in Rs.)
Minimum
Amount of
Deposit (in Rs.)
Rate of Interest
per annum
From To
01.10.1992 14.01.2000 100 No limit 11
15.01.2000 28.02.2001 100 No limit 10.5
01.03.2001 28.02.2002 100 No limit 9
01.03.2002 30.10.2001 100 No limit 8.5
01.11.2001 28.02.2003 No deposits allowed 8.5
01.03.2003 onwards No deposits allowed 7.5

Closure of the account is permitted on expiry of four years from the end of the year in which account is opened, e.g. accounts opened during the year 1997-98 can be closed during the year 2002-2003.

 
Public Provident Fund Scheme (PPF)
Period during which opened Minimum
Amount of
Deposit (in Rs.)
Minimum
Amount of
Deposit (in Rs.)
Rate of Interest
per annum
From To
01.04.1986 14.01.2000 100 60,000 12
15.01.2000 28.02.2001 100 60,000 11
01.03.2001 28.02.2002 100 60,000 9.5
01.03.2002 14.11.2001 100 60,000 9
15.11.2001 28.02.2003 500 70,000 9
01.03.2003 30.11.2011 500 70,000 8
01.12.2011 onwards 500 1,00,000 8.60
 
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