Post Office Schemes: If you want better returns with safe investment, then post office schemes can be a better option than bank FD. At present, while FD is giving 6.6%-6.7% interest, many post office schemes are giving more interest than this.
Post Office Schemes: If you are an investor who wants to stay away from risk and invest money where your investment is completely safe, then you must have invested in bank fixed deposit (FD). The biggest advantage of investing money in FD is that you get fixed interest and your money remains safe. But have you ever seen post office schemes? These are also equally safe and sometimes give more returns than FD.
Talking about now, after the cut in repo rate on April 9, most banks are giving annual interest of about 6.6% to 6.7% on FD. On the other hand, some post office schemes are giving interest ranging from 7.5% to 8.2%. That is, if you make a smart plan, then you can earn more from post office schemes with the same security as FD. Let us now know which post office schemes can prove to be better than FD.
SBI is giving 6.7% interest on one year FD
If you invest money in a bank’s fixed deposit (FD) for one year, then you will get slightly different interest in different banks. For example – State Bank of India i.e. SBI is giving 6.7% annual interest on one year FD. HDFC Bank gives 6.6% interest on this. ICICI Bank is also giving 6.7% interest. At the same time, Kotak Mahindra Bank is giving a little more interest of 7.1%. RBI has reduced the repo rate from 6.25% to 6% on April 9, after which many banks have reduced the interest on fixed deposits. So if you want to invest money in FD, then it is very important to check the interest rates, so that you can get better returns.
| Investment | Annual Interest |
| Kisan Vikas Patra | 7.5% |
| Fixed Deposit in HDFC Bank | 6.6% |
| Fixed Deposit in ICICI Bank | 6.7% |
| Fixed Deposit in Kotak Mahindra Bank | 7.1% |
| National Savings Recurring Deposit | 6.7% |
| National Savings Time Deposit 1-Year | 6.9% |
| Fixed Deposit in SBI | 6.7% |
| National Savings Time Deposit 5-Year | 7.5% |
| Senior Citizen Saving Scheme | 8.2% |
| Public Provident Fund (PPF) | 7.1% |
| Sukanya Samriddhi Account | 8.2% |
| National Savings Certificate | 7.7% |
You get more interest if you invest for a long time
If you want to invest for a long period, then some post office schemes give better returns than bank FDs. But remember, this benefit is only when you invest for a long time. For example, National Savings Recurring Deposit gives an annual interest of 6.7%. On the other hand, if you deposit money for 1 year in National Savings Time Deposit, you will get a return of 6.9%. But as the investment period increases, the return also increases: – 7% annual interest for 2 years, 7.1% annual interest for 3 years and 7.5% annual interest for 5 years. If you invest in Senior Citizen Savings Scheme, then you can get a maximum return of up to 8.2%. That is, if you think a little longer and invest for a longer period, then post office schemes can give you better returns than bank FDs.
Sukanya Samriddhi Scheme is currently getting 8.2% interest per annum
Currently, Public Provident Fund (PPF) gives 7.1% interest per annum, while Sukanya Samriddhi Scheme account holders get 8.2% interest per annum. At present, National Savings Scheme (NSS) gives 7.7% interest per annum. At present, Kisan Vikas Patra (KVP) gives 7.5% interest per annum. However, the benefits of Public Provident Fund and other schemes including Sukanya Samriddhi can be availed from post offices as well as banks.
