If you look at all the schemes of the post office and find out where in how many years the money will double, then the Sukanya Samriddhi scheme takes the shortest time in this. In this scheme, the money doubles in 9 years 4 months and has a maturity of 21 years.
Many post office plans are considered better to double the money. Today we will talk about National Saving Certificate or NSC and Kisan Vikas Patra or KVP. Both these schemes are backed by the government, so money is fully guaranteed. Also, guaranteed returns are also available. How much interest or return will be received on the deposit amount, this thing is decided in advance and you get to know while taking the plan. In such a situation, we know how much money will be earned on how much. If the real thing is to double the deposit amount, then you can try NSC or KVP for this.
At present, the interest rate in Kisan Vikas Patra (KVP) is running at 6.0 percent while the interest rate of NSC is 6.8 percent. Maturity of NSC is of 5 years while that of KVP is of 124 months. The interest rate is fixed in both the post office schemes. That is, at the time of taking the plan, it will be known that how much return will be received on your deposit under the entire plan. You can deposit as much money as you want in both the plans. There is no maximum limit on the deposit amount. As far as double the money is concerned, in the NSC scheme, the money becomes double in 10 years and 4 months. In the same Kisan Vikas Patra, money doubles in 10 years and 3 months. As far as maturity is concerned, the plan maturity is available in 5 years in NSC and 124 months in KVP.
Where will the money double?
KVP doubles money in 10 years 3 months whereas NSC does the same thing in 10 years 4 months. Despite this, it is advisable to invest money in NSC because where its maturity is of 5 years, the maturity of KVP is about 10 years. The interest rate may be low now, but it is likely to increase in the next 2 years. In view of this, 5 years NSC will give more returns in a very short time as compared to Kisan Vikas Patra. In KVP, after 2 years 6 months, you can withdraw money prematurely, which is called Premature Withdrawal. There is no rule of premature withdrawal in NSC. On the death of the account holder, NSC can be redeemed, but premature closure or withdrawal of money is not allowed.
More profit in Sukanya Samriddhi
If you look at all the schemes of the post office and find out where in how many years the money will double, then the Sukanya Samriddhi scheme takes the shortest time in this. In this scheme, the money doubles in 9 years 4 months and has a maturity of 21 years. Interest of 7.60 percent is available on this account, which is the highest. After this, the name of Public Provident Fund PPF in double the money and its tenure is 9 years 11 months. It has a maturity of 15 years and is getting 7.1 percent interest.
In the Senior Citizen Saving Scheme, returns are available every quarter. The interest rate of the Post Office Monthly Scheme MIS is 6.60 percent, the account matures in 5 years. In this, interest money is given every month. This is followed by the name of Post Office Recurring Deposit, which is getting 5.8% interest and the account matures in 5 years.
How to invest money in NSC
If we talk about NSC, then you can invest at least 1 thousand rupees in it and you can invest as much as you want. In this, investment is made in the form of a certificate, in which you can take a certificate of investment ranging from 1 thousand to as many as you want. You can transfer this certificate to any other person. This scheme is the choice of most of the people due to good interest and good returns with guarantee. There is no risk in this scheme as it is completely government backed scheme. However, it does not get the benefit of tax exemption.
