Post Office Schemes: Investing is necessary for saving. If you want to do risk free savings then you can think about post office scheme. In these schemes, you get more interest than bank FD with return guarantee. Today we will tell you about some popular post office schemes where you are getting more interest than FD.
Post Office Schemes: In today’s time, everyone wants to save as much money as possible. When it comes to saving, the first attention goes to Small Saving Schemes or Post Office Saving Schemes. Many people also like this scheme because here you get more interest than Bank FD.
There is no risk along with high interest in post office scheme. In such a situation, if an investor wants to invest without risk, then he can invest in these schemes. The special thing about post office schemes is that the interest rates change every quarter.
Today we will tell you about some post office schemes where you will get more interest than bank FD.
Senior Citizen Saving Scheme (SCSS)
The name of Senior Citizen Saving Scheme (SCSS) itself makes it clear that this scheme is for senior citizens. This means that people above 60 years of age can take advantage of this scheme. In this scheme, the investor has to invest a lump sum and can invest up to a maximum of Rs 30 lakh. SCSS also provides tax benefits under Section 80C of the Income Tax Act.
Interest Rate- Currently, this scheme is getting 8.2 percent interest.
Maturity Period- The maturity tenure of the scheme is 5 years. It can be extended further after 5 years.
Kisan Vikas Patra is a savings certificate. It gives guaranteed returns. The investor does not get tax benefits in this scheme. There is no maximum limit of investment in this scheme.
- Interest Rate- 7.5 percent annual compound interest rate.
- Maturity period- 115 months (9 years 7 months)
Post Office Monthly Income Scheme (MIS)
In Post Office Monthly Income Scheme (MIS), a minimum annual investment of Rs 1500 and a maximum of Rs 9 lakh has to be made. In this scheme, tax is levied on the income earned on the investment amount. Interest is paid on this scheme every month.
- Interest rate- 7.4 percent annual interest is being received.
- Maturity period- 5 years
National Savings Certificates
Guaranteed returns are available in National Savings Certificates. The interest received in this scheme is paid at the time of maturity. A minimum investment of Rs 1000 has to be made in National Savings Certificates and there is no maximum investment limit. In this scheme also, the investor gets the benefit of tax exemption.
- Interest rate- 7.7 percent annual compound interest rate
- Maturity period- 5 years
Mahila Samman Savings Certificate
Mahila Samman Savings Certificate is quite popular among Indian women. There is no tax benefit in this scheme.
- Interest rate- 7.5 percent annual compound interest rate
- Maturity period- 2 years
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