The five small schemes in the Post Office Savings Scheme are Sukanya Samriddhi Yojana, Senior Citizens Savings Scheme, Public Provident Fund, Kisan Vikas Patra and National Savings Certificate Scheme. Let us know about the maturity, interest rate and other benefits of these schemes.
If you are also looking for a safe investment for yourself, then you can invest in the post office scheme. You will not get any risk in these schemes and these schemes also give high returns. Apart from this, if you are investing continuously in it, then in a few years your money becomes double. The five small schemes in the Post Office Savings Scheme are Sukanya Samriddhi Yojana, Senior Citizens Savings Scheme, Public Provident Fund, Kisan Vikas Patra and National Savings Certificate Scheme. Let us know about the maturity, interest rate and other benefits of these schemes.
Senior Citizen Savings Scheme
The Senior Citizen Saving Scheme (SCSS) of the Post Office is currently offering an interest of 7.4% which doubles your money in nine years. 7.4% p.a. interest will be payable in the first instance from the date of deposit on 31st March / 30th September / 31st December and thereafter, interest will be payable on 31st March, 30th June, 30th September and 31st December. An account can be opened in this scheme with Rs 1000 and you can invest up to a maximum of Rs 15 lakh in this scheme. In this scheme, the first five years can be deposited then further.
Public Provident Fund
The Post Office’s 15-year Public Provident Fund (PPF) currently offers 7.1 per cent interest, which doubles your money in 10 years at this rate. A minimum of Rs 500 and a maximum of Rs 1,50,000 can be deposited in a financial year under PPF. You can deposit money in a lump sum or in installments. You can invest in this scheme for the first five years and then for 15 years.
Sukanya Samriddhi Yojana
The highest rate of interest is given to you on the post office’s Sukanya Samriddhi Account Scheme, it is getting 7.6% interest annually. Under this scheme, a minimum amount of Rs 250 and a maximum of Rs 1,50,000 can be deposited in a financial year. Subsequent deposits can be made in multiples of Rs.50. There is no limit on the amount deposited in this scheme at a gap of one month or annually. Whatever money you invest in this scheme, it takes 9 years to double.
National Savings Certificate Scheme
6.8% interest is given on National Saving Certificate (NSC) of Post Office. This scheme is of five years, in which if you invest continuously, then the money will double in about 10 years. The minimum investment that can be made under this scheme is Rs 1000 and in multiples of Rs 100, there is no maximum investment limit.
Kisan Vikas Patra
At present, 6.9 percent interest is being given in the Post Office Kisan Vikas Patra (KVP) scheme. The amount invested here doubles in 10 years 4 months at this interest rate. Under this scheme, investment can be made by opening an account with a minimum of Rs 1000 and Rs 100. There is no maximum deposit limit.
