Post Office Saving Scheme: There are many investment options available in the market but still investors prefer to invest money in investment options without any risk. The post office scheme has been considered a very good investment option.
Post Office Saving Scheme: There are many investment options available in the market but still investors prefer to invest money in investment options without any risk. The post office scheme has been considered a very good investment option. There are schemes of post office which are giving more interest than bank FD. Along with this, you also get tax benefits by investing in these schemes.
Interest Rates on Post Office Schemes
Sukanya Samriddhi Yojana
When you are thinking of investing for the better future of your daughter, then Sukanya Samriddhi Yojana can prove to be the best for you. By investing in it, you can apply for tax exemption up to Rs 1.50 lakh. At the same time, 8 percent interest is being received on the money invested under this scheme.
National Savings Certificate Scheme
Now let’s talk about the National Savings Certificate Scheme of the Post Office. Investing in this gives interest at the rate of 7.7 percent. Along with this, a rebate of Rs 1.5 lakh is available under Section 80C of Income Tax on the amount deposited in this account.
Post Office Senior Citizen Saving Scheme
Apart from this, the Senior Citizen Saving Scheme of the Post Office is specially designed for senior citizens. By investing money in this scheme, you get interest at the rate of 8.2 percent.
Post office time deposit
By investing in the time deposit scheme of the post office, you will get interest at the rate of 7.5 per cent for a period of 5 years. At the same time, on investing in 5-year FD, you will get a deduction of Rs 1.5 lakh under Section 80C of Income Tax.
FD scheme of SBI
In SBI’s FD scheme, interest is received at the rate of 6.50 per cent on investment for 5 years. Whereas, senior citizens get interest at the rate of 7.50 per cent. On SBI’s special scheme Amrit Kalash, common people get interest at the rate of 7.10 per cent and the elderly at 7.60 per cent.
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