Post Offers Assured Returns; Check Interest Rate, Other Details

Post Office Schemes Interest Rates 2021: Public Provident Fund (PPF) offers 7.1 per cent interest rate.

New Delhi: Post office is offering several schemes. These post office schemes provide a stable interest rate and assured returns. PPF, Sukanya Samriddhi, Post Office Savings, Kisan Vikas Patra (KVP) among others are some of the popular savings schemes offered by Post Office.Also Read: LIC Bima Jyoti: Key features, benefits, all you need to know about the new policy

• Post Office Savings Account (SB)​​​​: Post Office Savings scheme offers an annual interest rate of 4 per cent. Post Office Savings Account can be opened with Rs 500.
• Under section of 80TTA of the Income Tax Act, from all Savings Bank Accounts, interest up to Rs 10,000 earned in a Financial Year is exempted from taxable Income.
• Public Provident Fund Account (PPF): Public Provident Fund (PPF) offers 7.1 per cent interest rate.
• PPF Deposits qualify for deduction under section 80C of Income Tax Act. Interest earned is tax free under Income Tax Act.
• Sukanya Samriddhi Account (SSA): ​Sukanya Samriddhi offers a rate of interest of 7.6 per cent per annum. You can invest minimum of Rs 250 and maximum of Rs 1.5 lakh in a financial year.
• Deposits qualify for deduction under section 80C of Income Tax Act. Interest earned is tax free under Income Tax Act.
• National Savings Certificates: National Savings Certificates (NSC) offers 6.8 per cent. Deposits qualify for deduction under section 80C of Income Tax Act.
• Kisan Vikas Patra (KVP): Kisan Vikas Patra offers 6.9 per cent compounded annually. Kisan Vikas Patra will mature in 124 months.
• Senior citizen savings scheme offers 7.4 per cent (quarterly interest of Rs 185 on Rs 10,000 deposit).
• Post office monthly income account offers 6.6 per cent.

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