Post Office Saving Schemes: People who want to save money are struggling to choose the right savings plan. Post Office has great savings plans for them.
Sukanya Samriti Yojana
The Sukanya Samriti Yojana scheme offers a maximum annual interest rate of 8 percent on the amount deposited. Individuals can open an account for female children up to 10 years of age.
National Savings Scheme
National Savings Scheme: The National Savings Scheme offers investors an interest rate of 7.7 percent. A minimum investment of Rs 100 and a maximum investment of Rs 1.5 lakh is allowed under this scheme.
Senior Citizen Savings Scheme (SCSS)
The Senior Citizen Savings Scheme SCSS allows individuals aged 60 years or above to open an account with a post office and benefit from a robust 8.2 per cent interest on their deposits.
Post Office Time Deposit Scheme
Post Office Time Deposit allows investors to allocate funds for 1 year, 2 years, 3 years or 5 years. Notably, the Post Office scheme offers a remarkable 7.5 percent interest rate on 5-year term deposits.
Post Office Recurring Deposit Account (RD)
5 Year The Post Office Recurring Deposit Account (RD) offers a current interest rate of 6.20% per annum for both individual and joint accounts over a 5-year plan.
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