Small Savings Schemes: This small savings scheme is best for those who do not take much risk in terms of investment, on which one gets the benefit of tax exemption along with an assured return.
Small Savings Schemes: There are many investors who do not want to invest in equity funds and avoid taking risks. They want such investments, which give a guaranteed return on time. For this, Post Office Scheme or Small Savings Scheme proves to be very useful. By investing in these schemes, not only can you raise money for a possible emergency, but you can also fulfill your target of saving. Not only this, under Section 80C of the Income Tax Act, 1961, investing in them also gives tax benefits of up to Rs 1.5 lakh. Let us tell you about some such small savings schemes in this news today, which gives returns as well as profit to the investors.
Post Office Savings Account
Under the Post Office Savings Account, interest is given at the rate of 4 percent and the minimum amount to open an account is Rs 500.
National Savings Time Deposit
There is no maximum investment limit in the National Savings Time Deposit Scheme. You can deposit money in multiples of Rs 100 or Rs 1,000. It offers interest at the rate of 6.9 percent on deposits for one year, 7 percent on two years, 7.1 percent on three-year deposits and 7.5 percent on deposits for five years.
National Savings Recurring Deposit Amount
You can apply for this tax saving investment by visiting any post office. It can also be started from Rs 100, while there is no upper limit for maximum investment. It is also getting 6.7 percent interest from January 1.
National Savings Monthly Income Account
In this too, money can be deposited in the account in multiples of Rs 1000, on which 7.4 percent interest is received annually. In this, the maximum amount of investment in a single account is 9 lakhs, while the maximum investment limit in a joint account is Rs 15 lakh.
Public Provident Fund
Investors opening an account in this get interest at the rate of 7.1 percent annually. You can open an account with a minimum of Rs 500, while the maximum amount of investment in a financial year is Rs 1.5 lakh.
Senior Citizen Savings Scheme Account
In this scheme designed for long term investment in old age, interest will be payable for the first time on 31st March/30th September/31st December from the date of deposit and thereafter interest will be payable on 1st April, 1st July, 1st October and 1st January. In this also, investment can be made from Rs 1,000, while up to Rs 30 lakh can be deposited in this scheme in multiples of 1,000.
Sukanya Samriddhi Account
Under this scheme, you can start saving from Rs 250. Under the scheme, 8.2 percent interest is available on the deposit amount. In this, a maximum of Rs 1.5 lakh can be deposited in a year.
Kisan Vikas Patra (KVP)
Under this scheme, an account can be opened with Rs 1000, while there is no upper limit for investment. It gives 7.5 percent interest annually.
National Savings Certificate
National Savings Certificate gives 7.7 percent interest annually. The minimum limit for investment in this is Rs 1000, while no maximum limit has been fixed.
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