POST OFFICE SAVING SCHEMES : Post office savings schemes are a good option for safe investment and fixed returns. These schemes are currently offering an interest rate of more than 7 percent.
Post Office Savings Schemes:
If you are looking to invest your money somewhere, both in terms of savings and investment, Post Office schemes can be the best for you. In these schemes you get many benefits like government security, good interest and tax deduction on your deposits. In that case which post office schemes will get you more than 7 percent interest.
Post Office Time Deposit Scheme
Any Indian adult can open an account in this post office scheme. Importantly, the scheme also provides tax benefits under Section 80-C of the Income Tax Act. Also, if the depositors invest in this scheme for three years, they will get the benefit of interest rate of 7 percent and if they invest for 5 years, they will get the benefit of interest rate of 7.5 percent.
Post Office Monthly Income Account
Interest is paid every month in this post office scheme. That means you can get income every month. Any Indian adult can open an account under this scheme. Under the scheme your account can be opened with a minimum of Rs.1000. At the same time a maximum of Rs 9 lakh can be deposited in this scheme. In this scheme, the account holders get the benefit of interest at the rate of 7.4 percent per annum.
Any Indian can open an account in Post Office PPF (Public Provident Fund Account (PPF)) scheme. A minimum investment of Rs 500 and a maximum of Rs 1,50,000 per annum can be deposited in the scheme. In this scheme, account holders get tax benefits under Section 80-C of the Income Tax Act. The benefit of compound interest is available in this scheme at the rate of 7.1 percent per annum.
National Savings Certificate
Post office scheme can start investment from a minimum of 1000 rupees. This scheme also has the benefit of tax deduction under Section 80-C of the Income Tax Act. This scheme pays interest at the rate of 7.7 percent per annum.
Kisan Vikas Patra
This post office scheme has been launched especially keeping the farmers in mind. But anyone can open their account in this. The most special thing about this plan is that your amount will double after some time. In this scheme, the account holders are being given the benefit of 7.5 percent interest rate per annum.
Mahila Samman Saving Certificate Scheme
was announced by Finance Minister Nirmala Sitharaman in her 2023 budget speech. This scheme for women is valid only for 2 years i.e. till 2025. In this scheme, interest is being paid to the account holders at the rate of 7.5 percent per annum.
