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LIC Product and Forms
LIC OF INDIA
 
Postal Schemes
Monthly Income Scheme Accounts (MIS)
Period during
which opened
Minimum
Amount of
Deposit (in Rs.)
Maximum
Amount of
Deposit (in Rs.)
Rate of
Interest
per annum
Interest Payable
on Minimum
Deposit (Rs.)
From To
15.08.1978 20.07.1988 5000 1,00,000 12 50.00
21.07.1988 23.04.1992 5000 2,00,000 12 50.00
24.04.1992 31.05.1993 5000 2,00,000 14 58.35
01.06.1993 01.09.1993 6000 2,04,000 14 70.00
02.09.1993 31.12.1998 6000 2,04,000 13 65.00
01.01.1999 14.01.2000 6000 2,04,000 12 60.00
15.01.2000 31.01.2000 6000 2,04,000 11 55.00
01.02.2000 17.07.2000 6000 3,00,000 11 55.00
18.07.2000 28.02.2001 1000 3,00,000 11 9.167
01.03.2001 28.02.2002 1000 3,00,000 9.5 7.917
01.03.2002 28.02.2003 1000 3,00,000 9 7.5
01.03.2003 30.11.2011 1000 3,00,000 8 6.66
01.12.2011 onwards 1000 4,50,000 8.20 6.83
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Where the monthly interest contains part of a rupee and if such part is 50 paise or more, it should be increased to one complete rupee and if such part is less than 50 paise, it should be ignored.This is with effect from 18.07.2000.

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Maximum amount that can be deposited in case of joint accounts is double that can be deposited in single accounts.

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Premature closure allowed after expiry of one year on deduction of 5% of deposited. No such deduction is made if the account is closed after three years from the date of opening of such account.

 
IVP (Indira Vikas Patra)
Period during which purchased Maturity period Maturity Value
From To
19.11.86 31.03.87 Five Years

Same as
Denomination

01.04.87 29.02.88 Five Years and six months
01.03.88 01.09.93 Five Years
02.09.93 31.12.98 Five Years and six months
01.01.99 15.07.99 Five Years
16.07.99 onwards Closed
 
6 Years NSC VIII Issue
Period during which purchased Maturity Value for a
Denomination of Rs. 1,000.00
From To
08.05.1999 31.12.1998 Rs. 2015.00
01.01.1999 14.01.2000 Rs. 1956.00
15.01.2000 28.02.2001 Rs. 1901.00
01.03.2001 28.02.2002 Rs. 1745.00
01.03.2002 28.02.2003 Rs. 1695.00
01.03.2003 30.11.2011 Rs. 1601.00
01.12.2011 Onwards  
 
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