New Delhi post office (India Post) Many such schemes run in which a common man can get very good returns by investing. There is also a guarantee from the central government in these schemes, due to which there is no scope for any kind of fraud.
9 investment schemes are running in the post office
There are 9 different types of investment schemes for investment in post offices. The interest rates on these investment plans vary every quarter. The specialty of the post office is that in this you have separate plans for children and senior citizens. The biggest feature of these schemes is that some of these schemes also get the benefit of tax exemption under section 80C.
Post Office National Savings Letter
This post office investment scheme is quite popular. At present, 6.8% interest is paid annually on investment in Post Office National Saving Certificate (NSC). In this, interest is calculated on an annual basis. The amount deposited in the National Saving Certificate gets tax exemption under Section 80C of the Income Tax Act. You can invest in this scheme for 5 years.
5 Year Recurring Deposit (RD)
RD opens at post office minimum installation of Rs 100 per month. Its maturity period is 5 years. The current interest rate on post office RD is 5.8 per cent per annum. In the account single or joint, the names of minor and mentally weak persons above 10 years of age can be opened. If it is opened before the 15th of the month, then your monthly installments should be deposited in it before the 15th of every month.
Post Office Monthly Income Scheme Account (MIS)
The maturity period of MIS is 5 years. The current interest rate on this is 6.6 percent per annum, which is paid every month. An account can be opened in post office MIS with a minimum of 1000 rupees. The maximum investment limit is Rs 4.5 lakh for a single account and Rs 9 lakh for a joint account. Accounts can also be opened in the name of a minor and mentally weak person over 10 years of age. If the post office wants to prematurely close the MIS, this will be done only after the completion of 1 year.
Post Office Fixed Deposit (FD)
In Post Office Fixed Deposit (FD), you can invest lump sum money for a fixed period. There is a facility to invest in the post office time deposit for one to five years. In this, you take advantage of fixed returns and interest payments. Fixed deposit (FD) accounts can be opened for four maturity periods – one year, two years, three years and five years. In this scheme you can avail tax exemption under Section 80C of Income Tax Act, 1961.
Sukanya Samriddhi Yojana (Sukanya Samridhi Yojana)
Sukanya Samriddhi Yojana is the best option to secure the future of your daughters. In this scheme you are currently getting 7.6 percent return. It also gives the benefit of tax reduction on investments up to Rs 1.5 under Section 80C of the Income Tax Act.
National Saving Monthly Income Account
The maturity period in this scheme is 5 years. If you are thinking of opening an account in a post office bank, then you can invest in a National Saving Monthly Income account. Customers can get a guaranteed amount every month by opening this savings account. People above 10 years of age can invest in it.
Kisan Vikas Patra (KVP)
It is a good option for small scale investment. Now 6.9 percent interest is being given on this savings scheme. Let us know that the returns will be better in this but there is no tax exemption on this. With this, the first used to be matured in 113 months, which has now been changed to 124 months. Minimum 1000 rupees can be deposited in Kisan Vikas Patra. At the same time, there is no limit to maximum investment.
Post Office Time Deposit (TD)
TDs can be opened from 1 year to 5 years in the post office. Account can be opened for minimum 1000 rupees, there is no maximum limit. The current interest rate on post office TD ranges from 5.5 per cent to 6.7 per cent annually. TD can be done in single or joint, in the name of a minor or mentally weak person over 10 years of age.
Senior Citizen Savings Scheme (SCSS)
The maturity period of this scheme is 5 years. The current interest rate on SCSS is 7.4 percent per annum. This account can be invested only once, which ranges from a minimum of Rs 1000 to a maximum of Rs 15 lakh. Under SCSS, a person 60 years of age or older can open an account. If someone is 55 years or more but less than 60 years old and has taken VRS, then he can also open an account in SCSS.
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