Post office investment schemes: There are 4 tremendous schemes of post office, by investing in which you will become a millionaire. This list includes many schemes ranging from Public Provident Fund (PPF), Recurring Deposit (RD).
Post office investment schemes: If you want to do future planning from now, then there is a good chance for you. You can invest in Post Office Schemes for savings. Not only do people have faith in these schemes, but by investing in them, your money never sinks, it is always secure. Today we have brought such best post office schemes for you, through which you can become a millionaire in years. Let us know about these schemes ranging from 5 years to 15 years.
Invest money in these schemes
There are 4 tremendous schemes of the post office, by investing in which you will become a millionaire. This list includes Public Provident Fund (PPF), Recurring Deposit (RD), National Savings Certificate (NSC) and Time Deposit (TD) schemes. Through these schemes, investors can prepare a huge fund in a few years.
Public Provident Fund (PPF)
In PPF, an investor can deposit a maximum of Rs 1.5 lakh annually. At the same time, you can deposit a maximum of Rs 12,500 monthly in this. The maturity of this scheme is 15 years, which you can extend further for 5-5 years. In this scheme, interest is available at the rate of 7.1 percent annually. If you invest Rs 1.5 lakh every year and invest for 25 years, then your total investment will be Rs 37,50,000. Amount on maturity after 25 years: Rs 1.03 crore as you get the benefit of compounding interest.
Recurring Deposit (RD)
In RD, you can deposit maximum amount of rupees monthly. There is no limit fixed in this. Here if we invest 12500 every month equal to PPF, then your big fund can be ready. You can invest in RD for any number of years. In this, 5.8 percent compounding interest is available annually. If you invest the maximum annual deposit: Rs 1,50,000, then after 27 years, according to the compounding interest, your amount will be around Rs 99 lakh. Your total investment in this will be Rs.40,50,000 lakhs.
National Savings Certificate (NSC)
If you invest in NSC, you can get tax exemption by investing up to Rs 1.5 lakh per year in NSC under Section 80C of Income Tax. In this the maturity period is of five years. In this, interest is being received at the rate of 6.8 percent annually. Talking about the interest rate, in other small saving schemes, the interest rate is reviewed every quarter, but at the time of investing in NSC, the interest rate remains the same for the entire maturity period. (Image: Reuters)
Time Deposit (TD)
The maximum limit of deposit in time deposit ie FD is not fixed. Under the Post Office Time Deposit, 6.7 per cent interest is available per annum on a 5-year deposit. If you deposit in this scheme: 15 lakhs, interest rate: 6.7 percent per annum, then you can become a millionaire in 30 years.
