Post Office Scheme: Post Office is one of the most preferred options for middle class salaried people in India looking for safe investment with good returns.
Although there are many opportunities for profits in the stock market, if you want to invest your money anywhere, Post Office is considered to be the safest. It also gives good returns.
Post Office Public Provident Fund (Post Office PPF) scheme is the best option for this. Even if you invest only a small amount in this scheme.. you can still make a substantial profit.
This plan offers both security and savings. Post Office PPF account is one of the best options for investors due to its high rate of return. Investors are assured of a fixed rate of return at the same rate at which their money was originally invested under the scheme. This means that even if the interest rates are later reduced, the investors will still be given the benefit of the previous interest rate.
Anyone can open his account in this scheme. No new joint account is allowed. A parent or legal guardian can open an account on behalf of minors. NRI account cannot be opened as per post office rules.
The maturity time of this program is 15 years. You can extend it twice for a period of 5 years. In addition.. you also get tax benefits. 7.1 percent annual interest rate is given in this scheme.
You can pay Rs. 12,500 i.e. if you invest Rs.417 per day in 15 years or till maturity.. your total investment will be Rs. 22.50 lakhs will be. You will also get the benefit of compound interest at an annual interest rate of 7.1 percent.
Then you will get Rs.18.18 lakh as interest. You can draw a total of Rs.40.68 lakhs with both. If you decide to extend your investment twice for 5 years each.. you will get Rs. 1.03 crores will be earned.
