Post Office Hit Schemes: Nothing is guaranteed these days. Most people have understood the need for savings. That is why they are investing in different places according to their needs.
Are you looking for good returns by investing? Then the various schemes of the post office can be a good option for you. There is no risk and guaranteed returns are available. Therefore, it can be said that the investment schemes of the post office are the best option for those who are looking for risk-free investment.
Overall, if you want to save tax or get regular income, then the investment plans of the post office are perfect for all your needs. Many investment plans of the post office are already quite popular in the country. There are also some special investment plans of the post office, where good returns are given on investment.
Post Office Monthly Income Scheme
If you want to earn a regular lump sum every month, then Post Office Monthly Income Scheme is a good option for you. If you invest in this scheme, you will currently get an interest rate of 7.4 percent. In this scheme, you can invest a maximum of Rs 9 lakh in a single account and a maximum of Rs 15 lakh in a joint account.
Public Provident Fund (PPF)
You can invest in Public Provident Fund (PPF). Here, a minimum of Rs 500 and a maximum of Rs 1.50 lakh can be invested per year. Currently, this scheme is offering an interest rate of 7.10 percent. Its tenure is 15 years. Apart from this, tax deduction is also available on this investment under Section 80C of the Income Tax Act.
Sukanya Samriddhi Yojana (SSY)
Sukanya Samriddhi Yojana (SSY) is the most suitable scheme for your daughter’s bright future. This scheme is specially designed for girls, which helps in meeting their education and marriage expenses. A minimum of Rs 250 per annum and a maximum of Rs 1.50 lakh can be invested in this scheme. Currently, this scheme is offering an interest rate of 8.20 percent. It also provides tax deduction under Section 80C of the Income Tax Act. It is a long-term savings scheme, through which it is possible to easily meet major expenses like daughter’s higher education.
Time Deposit (TD)
Under the Post Office Time Deposit Scheme, investors can deposit money for different tenures. It can be invested for 1 year, 2 years, 3 years and 5 years. If you invest for 1 year, you get 6.9 percent interest. If you invest for 2 or 3 years, the interest rate is fixed at 7 percent. If you invest for 5 years, investors will get 7.5 percent interest. There is no maximum deposit limit in this scheme. You can start with a minimum of Rs 1,000. Also, the Post Office’s 5-year FD is eligible for tax deduction under Section 80C of the Income Tax Act.
National Savings Certificate (NSC)
National Savings Certificate (NSC) is an initiative of the Government of India. It is a fixed income investment scheme. Any Indian citizen can buy NSC from any post office. The tenure of NSC is 5 years. The National Savings Certificate scheme of the post office offers an interest rate of 7.7 percent. The specialty of this scheme is that here you can start investing with just Rs 1,000.
National Savings Certificate (NSC)
If you invest Rs 5 lakh in the National Savings Certificate scheme, then at the end of the tenure i.e. after 5 years your total amount will be Rs 7,24,517. Thus your total return will be Rs 2,24,517.
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