At present, Post Office is considered to be the safest and best return medium of investment.
If you have invested in it under any post office scheme, then there is an important news for you. It is worth noting that the review and changes in the interest rates of the Post Office Scheme are done every three months. which are implemented on the first day of every quarter. At the same time, the review of this quarter of the post office is going to happen soon. In such a situation, if you are an investor and are thinking of investing on any scheme of Post Office according to the current interest rates, then you have a chance till 30 june. Because, if the interest rates decrease, then they will be considered applicable from 1 july 2021.
At present, Post Office is considered to be the safest and best return medium of investment. Because, according to the bank rules, deposits of more than Rs 5 lakh in banks are not safe. But, the Government of India guarantees the security of the amount deposited in the Post Office. For your information, let us tell you that the Post Office has currently started 9 savings schemes for common citizens. On which the current interest rate is up to 7.6 percent per annum.
These facilities are available like a bank in the post office
Like the bank, all kinds of facilities are provided to the common citizens in the post office too. In which, the facility of check on the post office account, ATM facility, nomination facility, facility of transfer of money, facility of net banking and mobile banking, facility of online fund transfer is also given to a post office account holder.
Post office investment schemes
| small savings scheme | interest rate | Tax benefit on investment? | Will interest be taxed? |
| post office savings account | 4.0% | No | Yes |
| post office recurring deposit | 5.8% | No | Yes |
| post office monthly income plan | 6.6% | No | Yes |
| Post Office Time Deposit (1 year) | 5.5% | No | Yes |
| Post Office Time Deposit (2 years) | 5.5% | No | Yes |
| Post Office Time Deposit (3 years) | 5.5% | No | Yes |
| Post Office Time Deposit (5 years) | 6.7% | Yes | Yes |
| Kisan Vikas Patra | 6.9% | No | Yes |
| public provident fund | 7.1% | Yes | No |
| Sukanya Samridhi Yojana | 7.6% | Yes | No |
| National Savings Certificate | 6.8% | Yes | No |
| Senior Citizen Savings Scheme | 7.4% | Yes | Yes |
The interest rates on these schemes are reviewed by the government every three months. In whichever quarter you invest in Post Office Time Deposit, Post Office Recurring Deposit, Post Office Monthly Income Scheme, National Savings Certificate (NSC) and Kisan Patra (KYP), then the interest rate available at that time will remain throughout your plan period. However, the interest rate on Public Provident Fund (PPF) and Sukanya Samriddhi Yojana will keep changing as and when the government changes.
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