Post Office: Many things change with time, but in this era of modernity, the importance of the postal service still remains.
Whether it is important documents or the matter of depositing money, everywhere the post office is still considered a symbol of trust. During the lockdown in the Corona era, on one hand, industrial and business activities were halted on the one hand, on the other hand, people had confidence in the post office that even during difficult times, people opened a lot of accounts in the post office.
In Dumka in Corona, the highest account holders connected: Whenever the villagers needed money, the post office reached out to the people themselves and their account was opened on the spot. During the Corona period, about 73 thousand new account holders joined the post office in Dumka of Santal Parganas. However, in Ranchi, Singhbhum and Dhanbad divisions, a large number of people expressed their trust at the post office.
Money Guarantee of the Central Government: All the schemes of Post Office are run by the Central Government. The central government is also guaranteed to return the investors’ money. In such a situation, if your money is drowned for some reason, then there is a liability on the government for all your money, whereas the condition of banks is not like this. If a bank goes bankrupt for some reason, even if you have invested crores of rupees, the account holders will get only five lakh rupees of deposit insurance as a guarantee.
Monthly Income Plan: This plan guarantees you monthly income when you invest. Any person can open an account singly or jointly. A minor under 10 years of age can also invest.
Post office recurring deposit: Here the interest rate will change every three months and the investment period of the scheme is up to five years. There is a tax benefit on investments made for five years.
1.27 crore postal account in the state: The trust of the post office among the people is more than the banks. During March 2016, where about 17 million people in the state were associated with some investment related services in the post office. That number had increased to 1 crore 25 lakh by March 2019. Whereas in recent figures this number has been 1, 27, 27, 346. In this, the number of savings account alone is more than 45 lakhs.
Investment and Savings Schemes: Many savings schemes run in the post office. You can secure your future by investing in these schemes. Anyway, they are also considered safe for investment. For most of the schemes being run here, people’s trust in the India Post Department i.e. India Post Payment Bank is very high.
Also helpful in tax: Post office investment includes many savings schemes which provide high interest rate as well as tax benefits. The most important thing is that the Government of India guarantees that all these schemes are tax-exempt under Income Tax Section 80C, that is, no tax will be paid on investments up to Rs 1,50,000.
