Small saving schemes: Investing in small savings schemes of the Post Office has always been a better option. Because there is no risk of any kind here.
Post office profit schemes: People love investing in the post office. One reason for this is that with good returns, there is complete guarantee of the security of your money. There is no risk involved in investing here. The interest rates of the schemes here are fixed every quarter. That is, you already know when and how much interest or return you are going to get. If you have not invested in any post office savings scheme yet, then you can also secure your future by knowing about them.
National Saving Certificate – NSC is a scheme supported by the central government. It comes with a lock-in period of 5 years. In this interest is compounded annually but it is paid to the investor only on maturity. NSC is one of the popular Post Office Saving Schemes, which provide guaranteed returns along with tax benefits under Section 80C. It preserves the capital while offering a fixed return.
Senior Citizen Savings Scheme (Senior Citizen Saving Scheme) – If you have crossed the age of 60 years and want to get the benefit of tax saving as well as higher returns than bank FD, then you can invest in the Senior Citizen Scheme of the Post Office. Huh. You get an interest rate of 7.4% on investing in this scheme. This interest is accrued on the deposit after every three months. You can invest a minimum of Rs 1,000 and a maximum of Rs 15 lakh in this. It can be invested for up to 5 years.
Public Provident Fund Account (Public Provident Fund Account) – By investing in Public Provident Fund Account (PPF), you will get the benefit of tax saving along with good returns. You get a return of 7.1% on this scheme as compound investment. You can invest money in this scheme for a total period of 15 years. The minimum investment amount is Rs 500 which can be maximum of Rs 1.5 lakh for every financial year. After 3 years you can also take a loan on it and after 5 years you can also withdraw some amount from this account if needed.
Sukanya Samriddhi Accounts (Sukanya Samriddhi Yojana) – This is such a great scheme in which you can invest and create a huge fund for your younger daughter. This scheme gives an interest rate of 7.6%. In this scheme, you can open this account for a girl child of three months to a daughter of 10 years. In this, you can invest a minimum of Rs 250 and a maximum of Rs 1,50,000 every year. By investing in it, you also get exemption under section 80C of Income Tax. On the other hand, after the girl child turns 21, you can invest the entire amount from the account.
