Post Office Small Savings Schemes: Know how you can earn lakhs of rupees from these post office schemes: Corona crisis is over the country at this time and small savings can come in handy at the same time, for which many by the government All plans have been implemented. There is another such scheme called Post Office Small Savings Scheme. One can start investing in this scheme with very little money. Along with this, the money is safe and returns are also good.
Now post office schemes can earn millions of rupees
There are many options to make small savings in Post Office, because in Post Office Scheme, your money is 100% safe. The most important thing about this scheme is that you can invest in it without risk. Several schemes are available such as Post Office Recreting Deposit (Post Office RD), Post Office Public Provident Fund (POPPF), Post Office Senior Citizen Scheme (POSCS), Sukanya Samriddhi Yojana (SSY).
Post Office Small Savings Schemes Eligibility
An Indian citizen must be 18 years of age to apply for the savings plan of India Post Office. Parents can open savings account on behalf of the minor. In addition, a joint account can be opened by two or three adults. A senior citizen couple can jointly invest up to Rs 30 lakhs.
Post Office Recurring Deposit Scheme
Reckering is a scheme of the depositpost office, in which small deposits get good returns on deposits. Post office recurring deposit accounts can be opened for five years. Currently, the scheme is getting 5.8 percent interest. Explain that the Government of India announces the interest rate of all its small savings schemes every quarter.
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Post Office Senior Citizen Scheme (SCSS)
Not only this, people of 60 years and above can apply for the post office senior citizen scheme! Under this scheme, the rate of interest is 7.4 percent on the amount deposited. There is a lock-in period of 5 years for the principal, but premature withdrawal is allowed after completion of one year after paying the fine. A maximum investment of Rs 15 lakh can be made in this scheme.
Sukanya Samridhi Yojana (SSY)
Also, the Sukanya Samriddhi Yojana gets an annual interest rate of 8.5% on the investment! The parents of this scheme have to invest only for 14 years. After this, maturity is attained when it is 21 years. After 14 years, the closing amount will get 8.5% per annum.
Post Office Public Provident Fund (PPF)
The post office public provident fund gets an interest of 7.9% per annum on deposits! Individuals can invest a minimum of Rs 500 and a maximum of Rs 1.5 lakh in a financial year. You can deposit money in the scheme in lump sum or in 12 installments. The duration of maturity is 15 years, in which joint account cannot be opened and a citizen of India can open one account only.
Post Office Monthly Income (POMIS)
Monthly returns are available in this scheme! Which is completely safe! It is a good scheme for senior citizens, which provides a guaranteed monthly income as well as interest. Two or three persons can open a joint account. In which all account holders will have equal share. Single accounts can also be converted into joint accounts. The minimum deposit limit is Rs 1,500 and the maximum amount is Rs 4.5 lakh. For joint account holders, the limit is 9 lakh rupees.
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