Post Office Scheme: National Savings Time Deposit Account can open Guardian account in the name of minor. A minor above the age of 10 years can also operate the account in his own name.
Post Office Scheme: If you want to invest in post office scheme, then there are many schemes in which you can invest. But if you want to invest lumpsum in a 5-year scheme, then you can also choose Post Office National Savings Time Deposit or National Savings Certificate Scheme (Post Office nsc). Now which of these two schemes is better, we can understand it here.
How many accounts are opened in Post Office
National Savings Time Deposit and National Savings Scheme account both open in Rs 1000 and can invest any amount in it in multiples of 100. In both the post office schemes, from single to three people together can open a joint account. National Savings Time Deposit Account can open Guardian Account in the name of minor. A minor above the age of 10 years can also operate the account in his own name.
Who gets how much interest?
According to the official website, the interest rate for the Post Office National Savings Time Deposit Scheme for 5 years is currently 6.7 percent per annum, while the five-year National Savings Scheme also has a compound interest rate of 6.8 percent per annum, but it is available on maturity. Are being given.
Benefit of tax exemption
You can also take advantage of Income Tax exemption on investment in National Savings Certificates. You can also take the benefit of section 80C of the Income Tax Act, 1961 under investment in a time deposit of 5 years. You can open any number of accounts in the Post Office National Savings Time Deposit Scheme.
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