Post Office Small Savings Schemes is such a place from investment point of view, where you will get good interest rate as well as your money will also be safe. If you also want to invest money in a safe place and also want to earn good interest, then post office schemes can prove to be better for you. You can get information about all these schemes from here and you can invest where you get the best option.
1. Post Office Monthly Income Scheme
In the Post Office Monthly Savings Scheme, you can invest at least Rs 1,000 and up to a maximum of Rs 4.5 lakh in lump sum. By investing in this plan, the investor earns a fixed income every month. This is a government small savings scheme. This scheme is best for 5 year investment perspective. If you withdraw money before 5 years then there can be loss.
2. Public Provident Fund
If you want to invest for the long term, then PPF can be a safe option. Here the investment has to be made for 15 years, but you can withdraw every 5 years. You can start investing in PPF with just Rs 500. Investing in this scheme gives tax exemption under section 80C of Income Tax. Compound interest is available on this scheme and an amount of Rs 1.5 lakh can be deposited annually under this.
3. National Saving Certificate
The National Saving Certificate of the Post Office is also a very popular scheme. Under this, you can start investing even with 100 rupees. Under this scheme you can invest for 5 years. Annual interest is available under this scheme and this interest can also be reinvested. Under this scheme also you get tax exemption up to Rs 1.5 lakh.
4. Sukanya Samriddhi Yojana
If you want to secure your child’s future from now on, then you can invest in this post office scheme. A person can open two accounts in the name of his two different daughters. When the girl child turns 21, she can withdraw the maturity amount under the scheme. Interest is being given on this scheme at the rate of 7.6 percent.
5. Senior Citizen Savings Scheme
If an elderly person is 60 years old, then he can earn a fixed monthly income by investing a maximum amount of Rs 15 lakh in this scheme. You can also invest in this scheme for up to 5 years. You can start investing in this scheme with a minimum of Rs 1000. You can also get income tax exemption under this scheme.
6. Post Office Recurring Deposit Scheme
You can open more than one recurring deposit (RD) in the post office. Compound interest is given in this. No TDS is deducted on interest under this scheme. At present, 5.8 percent interest is being available on this scheme. In this you can invest even 100 rupees. There is no limit on the maximum deposit amount. Any person can open his account under this scheme.
7. Kisan Vikas Patra
If you want to double your money then you can invest in Kisan Vikas Patra. You can also invest in this scheme with a small amount. The returns in this scheme are good but tax exemption is not available. The maturity period of this scheme is 124 months. You can invest a minimum of 1000 rupees in this and there is no maximum limit.
8. Post Office Time Deposit
Post Office Time Deposits are fixed deposits in a way. You can invest in this scheme for 1, 2, 3 or 5 years. You can invest a lump sum amount in this. In this the return is fixed and interest is also available. Not only this, minors can also invest in it, although they will need a guardian for this.
