If you also want to invest but you are afraid of losing money, then you can earn huge profits by investing in these 5 post office schemes without any risk.
If you want to invest in tax saving schemes and earn profits without risk, then these post office schemes can be better for you. Under these schemes, income tax is exempted under 80C.
These schemes of the post office come under the Small Savings Scheme. Under this you can claim for tax exemption. Let us know how much tax exemption and what percentage of annual interest you can avail under these five schemes.
Public Provident Fund (PPF):
Under the Public Provident Fund, you are given an annual interest of 7.1 percent. This is a tax-free scheme, because in this scheme, a deduction of up to Rs 1.5 lakh is given under Section 80C of Income Tax. On the other hand, there is a maximum investment of Rs 1.5 lakh per annum.
Sukanya Samriddhi Yojana (SSY):
Under Sukanya Samriddhi Yojana, the account can be opened for a girl up to 10 years of age, the account cannot be opened for those older than this. After attaining the age of 18 years, the girl can withdraw some amount from this account. Currently the interest in this scheme is 7.6 per cent and a deduction of Rs 1.5 can be availed under section 80C.
Senior Citizen Saving Scheme (SCSS):
This scheme has been started for senior citizens, under which any person in the age group of 55 to 60 years can open it. In this, by depositing Rs 15 lakh at one go, after maturity of five years, you can earn profit at 8% interest. Under this also tax saving of Rs 1.5 lakh can be done.
Post Office Time Deposit:
Under the time deposit of the post office, interest is also given separately for different tenures, under which the maximum interest is 7 percent. You can start investing in this with a minimum of Rs 1000 and under this also you can save tax of Rs 1.5 lakh on a tenure of 5 years.
National Savings Certificate:
Under this, you can invest Rs 1000 and under this scheme also the government gives you 7% interest. In this, tax exemption is given up to Rs 1.5 lakh.
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