Post Office Savings Schemes: Fixed Deposit (FD) has been a popular investment option. It has been considered a safe and better option for investment. But the interest rates of FD have been decreasing continuously for some time now. In such a situation, if you are looking for an investment option that will give you more interest than FD, as well as in which your money is also safe, then you can choose post office schemes. Today we will tell you about three such schemes of the post office, which are completely safe from investment point of view, as well as give excellent returns:-
Kisan Vikas Patra (KVP)
- At present, 9% interest is being given in this scheme.
- There is no maximum investment limit. Minimum investment should be Rs 1000.
- The age of the investor must be 18 years. Minors can join the scheme but it will have to be supervised by their parents.
- Apart from single account, joint account facility is also available.
- Lock in period of two and a half years. This means that you have to wait for at least 5 years to withdraw the investment.
- Under this, the amount deposited gets tax exemption under section 80C of the Income Tax Act.
National Saving Certificate (NSC)
- Interest is getting 8% per annum on investment in NSC.
- The interest is calculated on an annual basis, but the amount of interest is paid only after the tenure of the investment.
- A minimum investment of Rs 1000 has to be made in this scheme. There is no maximum investment limit.
- NSC account can be opened in the name of a minor and joint account can be opened in the name of 3 adults.
- Minors above the age of 10 years can also open the account under the supervision of the parents.
- By investing, you can save tax on an amount up to Rs 5 lakh under Section 80C of the Income Tax Act.
Monthly Income Scheme
- This scheme gives investors an opportunity to earn a fixed amount every month.
- In this scheme, a lump sum amount is deposited under a single or joint account. According to that amount, money keeps coming in your account every month.
- If the account is single then you can deposit maximum up to Rs 5 lakh. If there is a joint account then the maximum amount that can be deposited is Rs 9 lakh. The maturity period is 5 years.
- An interest rate of 6.6 percent is being given in this scheme.
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