Post office Saving Schemes: These 5 amazing saving schemes are available in Post Office, invest and get more interest than FD

Banks have reduced interest on FD. In such a situation, you can turn to the post office savings scheme. Higher returns are available there.

Post office Saving Schemes: After the Reserve Bank of India (RBI) reduced the repo rate, all the public and private banks have reduced the interest on fixed deposits (FD). Due to this, now less return is being received on FD. In such a situation, if you want more return than FD, then you can turn to the post office savings scheme. We are telling you about 5 savings schemes of post office, where you can invest and get more return than bank FD. Let’s know about those investment schemes.

Sukanya Samriddhi Yojana

Sukanya Samriddhi Yojana, in which the minimum investment is Rs 250 and the maximum investment is Rs 1.5 lakh per year, is getting interest at the rate of 8.20%. Opening an account in the name of a girl is allowed in this scheme and tax exemption is available under section 80C. Deposits can be made for 15 years from the date of opening the account.

Senior Citizen Savings Scheme

Senior Citizen Savings Scheme (SCSS) is a government savings scheme by the Government of India for individuals aged 60 years and above. Senior Citizen Savings Scheme, with a minimum investment of Rs 1,000 and a maximum investment of Rs 30 lakh, offers an interest rate of 8.20% on 5-year deposits. It also offers tax benefits under Section 80C. The tenure of the scheme is 5 years, which can be extended for 3 more years.

Public Provident Fund (PPF)

Public Provident Fund, in which the minimum investment is Rs 500 and the maximum investment is Rs 1.5 lakh per year. It is currently getting interest at the rate of 7.10%. Its tenure is 15 years and it also offers tax benefits under Section 80C as well as tax-free returns. Loan and partial withdrawal facility is also available in PPF account.

Kisan Vikas Patra

A minimum investment of Rs 1,000 can be made in Kisan Vikas Patra and there is no maximum investment limit. It gets an interest rate of 7.50%. The investment can be redeemed after 2.5 years and there is no tax benefit in it. Any Indian citizen or minor can buy Kisan Vikas Patra.

5-Year NSC

5-Year NSC, in which the minimum investment is Rs 1,000 and there is no maximum investment limit. It is getting interest at the rate of 7.70%. It offers tax benefits under section 80C and there is no TDS deduction. This scheme is backed by the Government of India, so it is a safe investment option. Premature withdrawal is also allowed under certain conditions, but the interest rate is reduced.

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