Post office small saving schemes:You also get better returns in this and also get guarantee of safety of money. In these schemes, you can run a single account as well as a joint account.
Post office small saving schemes: If you have less money to invest, then there are many such schemes of post office in which you can start investing with just Rs 1000. You also get better returns in this and also get a guarantee of safety of money. In these schemes, you can run a single account as well as a joint account. The process of investing in these schemes is also very easy.
Post office time deposit
You can deposit money for one year to 5 years under post office time deposit interest rate. Interest is available on this deposit ranging from 5.5 percent to 6.7 percent annually. If you make a time deposit of 1-3 years, then you will get interest at the rate of 5.50 percent. If the deposit of up to 5 years earns interest at the rate of 6.7 percent. In this scheme, you can open an account with Rs 1000.
Post office monthly income scheme
The Monthly Income Scheme of the Post Office is also a good scheme to start investing with one thousand rupees. If you want to invest in it, you can earn every month. In this scheme, a minimum of Rs 1000 is charged for account opening. It gives an annual interest of 6.6 percent per annum. In this, a maximum amount of Rs 4.5 lakh can be deposited in an account.
National Savings Certificate (Eighth Issue) (NSC)
The Post Office (India post) has a National Savings Certificates (VIIIth Issue) (NSC) scheme. In this you can invest as much as you want in a minimum of Rs 1000 and multiples of 100. This is for five years. It is currently getting 6.8 percent (compounded annually but payable on maturity). For example, if you invest Rs 1000, you will get Rs 1389.49 on maturity.
Post Office Senior Citizens Savings Scheme
The Senior Citizen Savings Scheme in the Post Office is one such savings scheme that makes your retirement easy. In this you can start investing with a minimum of Rs 1000. After this, if you want, you can deposit up to a maximum of Rs 15 lakh in multiples of 1000. At present, 7.4 percent interest is being given on the deposits of senior citizens in the post office. The maturity period is 5 years.
Kisan Vikas Patra
A special option in the post office is Kisan Vikas Patra. In this you can start investing from 1000 rupees. Kisan Vikas Patra is a government guaranteed scheme in the post office, which can be earned in the form of interest. You can also double your money by investing in it. At present, interest of 6.9 percent is being available on this savings scheme.
