From January 1, the post office has increased the interest rates on all its schemes. In such a situation, you have a chance to take advantage of higher interest rates. Know here about those 5 schemes whose interest rates have been increased.
If you have planned investment in the new year (New Year 2023) and you are looking for a scheme with guaranteed returns, then post office schemes can prove to be a better option for you. All the schemes like Fixed Deposit, RD, Sukanya Samriddhi Yojana, Senior Citizen Savings Scheme, PPF etc. are run by the post office. A lot of profit can be made through these schemes. From January 1, the Post Office has increased the interest rates on all its schemes (Post Office Schemes Interest Rates Hike). In such a situation, you have a chance to take advantage of higher interest rates. The new interest rates will be applicable till March 31, 2023. Know here about those schemes whose interest rates have been increased.
Post office time deposit
First of all, we will talk about post office FD which is called post office time deposit. You get the facility of time deposit up to 1, 2, 3 and 5 years in the post office. Their interest also varies according to the period. Interest rates have changed since January 1. Currently, you are getting 6.6% interest on 1-year time deposit, which was earlier 5.5%. 6.8% interest is being received on two-year time deposits, which was earlier 5.7%. You will get 6.9% interest on three-year time deposit, which was earlier 5.8%. Interest is being received at the rate of 7% on 5-year time deposit, which was earlier 6.7%.
Senior Citizen Savings Scheme
The interest rate of Senior Citizen Saving Scheme has been increased to 8.0% from January 1. Earlier, interest was being received in this scheme at the rate of 7.6%. This scheme is specially for those people, whose age is more than 60 years. It has been prepared with the objective of providing regular income to senior citizens after retirement. Apart from this, those who have taken VRS can also take advantage of this scheme. A minimum of Rs 1000 and a maximum of Rs 15 lakh can be deposited in this account. The deposit amount matures after 5 years from the date of opening of the account.
Monthly income plan
Monthly Income Scheme (MIS) interest rate has been increased from 6.7% to 7.1%. This is such a scheme, in which there is guaranteed income every month on lumpsum deposit. In this, the money remains completely safe and it is not affected by the ups and downs of the market. Investment has to be made only once in MIS account. Its maturity is of 5 years.
National Savings Certificate
The interest rate on National Savings Certificate (NSC) has been increased from 6.8% to 7.0%. NSC can be bought for a minimum of Rs 1000 and no limit has been fixed for the maximum investment. That is, you can invest any maximum amount in it. In this, you do not have to deposit money for a very long time. This scheme matures in just 5 years. Interest is compounded on an annual basis and guaranteed returns are available.
Kisan Vikas Patra
The interest rate on Kisan Vikas Patra (KVP) has been increased from 7.0% to 7.2% with effect from January 1. You can start investing in Kisan Vikas Patra with just Rs.1000. After this, investment can be made in multiples of Rs.100. There is no maximum limit for investment in this. Account Single and 3 adults together can open joint account. Nominee facility is also available in this. Premature closure of KVP account can be done after 2 years 6 months from the date of deposit.
