These schemes pay more interest than the bank, especially the post office schemes give more interest on the investment of money. Interest is also paid more on schemes like Public Provident Fund (PPF), National Savings Certificate (NSC) and Kisan Vikas Patra (KVP).
There are many such schemes which are more beneficial than bank FD. These schemes pay more interest than the bank, especially the post office schemes give more interest on the investment of money. Interest is also paid more on schemes like Public Provident Fund (PPF), National Savings Certificate (NSC) and Kisan Vikas Patra (KVP). Let us know how much interest the post office pays on these schemes.
Public Provident Fund
The PPF scheme of the post office is a popular scheme, which gives an interest of 7.1 percent to the people. This scheme can be opened with as little as Rs 500. It can be invested for maturity for five years, later it can also be increased. It can be extended to maturity up to 15 years. The maximum investment that can be made for 5 years is Rs 1.5 lakh. Loan can be taken in it after three years. Apart from this, tax exemption is also given under 80C in this scheme. For this, any citizen of India can open an account, for children, guardians can open an account on their document.
National Savings Certificate
This post office scheme gives you an interest of 6.8 percent. An account up to Rs 1000 can be opened in this scheme. There is no maximum investment limit in this plan. Its maturity time has been given 5 years. You cannot withdraw money inside it even if you want. In this, you are given tax exemption under Form 80C on investment of up to 1.5 lakhs. It can be opened only in the post office, which can be taken by any citizen of India.
Kisan Vikas Patra
In this scheme, you are given an interest of 6.9 percent. This scheme can be opened in the post office itself, which can be opened by any citizen of India. There is no investment limit in this scheme, you can withdraw money after 2.5 years. A minimum investment of Rs 1000 can be made in this scheme.
More interest than bank FD
Post office schemes pay more interest than bank FDs. Bank FDs give a maximum return of 5.7 percent, while post office schemes give returns of more than 6 percent. If you invest in the post office, then you also have to face the risk.
