Post Office Special Schemes: It is very important to invest on time to improve our future, so that we do not have to take help from anyone when needed. Although there are many investment options, but today through this news we are going to tell you about some savings schemes of the post office, which has tax benefits along with better interest rates. Also, there is no possibility of risk in it.
Post Office Savings Account
This is similar to a bank savings account. The only difference is that in this you have to go to the post office and open an account. Under this, even a minor can open his account. It gives interest at the rate of 4 percent.
Post Office Monthly Income Scheme
This scheme is for a period of up to 5 years, on which 7.4 percent interest is given on the deposit amount every month. Under this scheme, you can open your account with a minimum of Rs 1000 in a single holding account, while the maximum limit is Rs 9 lakh and the maximum limit in a joint account is Rs 15 lakh. The account opened under this scheme can be transferred from one post office to another across the country. In this, the account can be closed prematurely after one year, but if the original investment is withdrawn between 1 to 3 years, then 2 percent of the investment has to be paid as penalty and if withdrawn after 3 years, then 1 percent penalty has to be paid.
Post Office Recurring Deposit or RD
The annual interest rate on this is 6.7 percent. This scheme is for up to 5 years. In this, you can deposit up to Rs 100 every month and there is no maximum limit of investment. If you miss depositing money in your account in any month, then you have to pay a penalty of Rs 1 for every Rs 100. In this, you can withdraw up to 50 percent of your investment after one year.
Post Office Time Deposit
In this, you can open your account with Rs 1000 and there is no maximum limit. In this, 6.9 percent interest is available on one year investment, 7.0 percent on two years, 7.1 percent on three years and 7.5 percent on investment up to five years. In this also the account can be transferred from one post office to another.
Senior Citizen Savings Scheme
The minimum age of investment in this saving scheme for senior citizens is 50 years. In this, a person can open an account in his name as well as a joint account in the name of his wife. The maximum amount of deposit in one account should not exceed Rs 15 lakh. Its maturity period is 5 years.
Kisan Vikas Patra
In this, compound interest is available at the rate of 7.5 percent annually. In this, the investment amount doubles every 115 months. In this, the minimum investment amount is Rs 1,000 and there is no maximum limit. Under this scheme, you can invest for 10 years.
Public Provident Fund or PPF
It gives interest at the rate of 7.1 percent per annum on investment of 15 years. You can open your account in it with Rs 500. Opening a joint account is not allowed in it. There is no minimum or maximum age limit to avail the benefits of this scheme.
Most Read Articles:
- 8th Pay Commission: Good news! Central employees salary will increase by 40 to 45 thousand, know details
- New Vande Bharat Trains: Good news! 2 new Vande Bharat trains will start running soon, check route-schedule and fare
- Credit Card Link UPI: Link your credit card to UPI from home, know step-by-step guide
