Post Office Schemes: Many post office schemes are considered excellent for investment. There’s no risk involved. Opening an account in these schemes offers numerous benefits. Today, we’re talking about five such post office schemes that offer bumper returns.
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Post Office Schemes: Nowadays, most people have understood the need for savings. This is why they invest in various avenues based on their needs. If you want to earn significant income through investment, Post Office schemes may be a good fit. There’s no risk involved and guaranteed returns. Therefore, it’s safe to say that Post Office investment schemes are a good option for those who want to invest without any risk.
Overall, if you’re looking to save on taxes or earn a regular income, Post Office investment schemes are ideal for your needs. Many Post Office investment schemes are quite popular across the country. In this context, today we’re going to tell you about some selected Post Office investment schemes that offer good returns.
- Post Office Monthly Income Scheme
If you want to earn a regular income, the Post Office Monthly Income Scheme is a good option. Investing in this scheme offers an interest rate of 7.4%. You can invest a maximum of ₹9 lakh in a single account and ₹15 lakh in a joint account.
2. Public Provident Fund
You can invest in the Public Provident Fund (PPF). The minimum amount is ₹500 and the maximum is ₹1.50 lakh annually. Currently, PPF offers an interest rate of 7.10%. Its tenure is 15 years. You can also avail tax exemption under Section 80C of the Income Tax Act.
3. Sukanya Samriddhi Yojana
If you want to invest in your daughter’s bright future, the Sukanya Samriddhi Yojana (SSY) is the best option. This scheme is specifically designed for girls and helps cover their education and marriage expenses. You can invest a minimum of ₹250 and a maximum of ₹1.50 lakh annually in this scheme. This scheme offers an interest rate of 8.20% and is eligible for tax exemption under Section 80C. This is a long-term savings option that can easily meet major expenses like your daughter’s higher education and marriage.
4. Time Deposit (TD)
Under the Post Office Time Deposit scheme, investors can invest for different tenures. They can deposit money for 1 year, 2 years, 3 years, and 5 years. Investing for one year earns an interest rate of 6.9%, while investing for 2 or 3 years earns a rate of 7%. Investors investing in this Post Office scheme for 5 years earn an interest rate of 7.5%. There is no maximum deposit limit; the minimum deposit is ₹1,000. A 5-year Post Office FD is tax-deductible under Section 80C of the Income Tax Act.
5. National Savings Certificate
The National Savings Certificate is an initiative of the Government of India. It is a fixed income investment scheme. Any Indian citizen can obtain a National Savings Certificate from any post office. The current issue of National Savings Certificates is Issue VIII. The maturity period of NSC is 5 years. The Post Office National Savings Certificate Scheme offers a return of 7.7%. The special feature of the National Savings Certificate Scheme is that you can start investing in this scheme with just ₹1,000.
Returns on National Savings Certificates
If you invest ₹5 lakh in the National Savings Certificate scheme, you will receive a total of ₹724,517 upon maturity, i.e., after 5 years. Thus, you will receive a total return of ₹224,517.
Read More: Bank Savings Account: Open your savings account in this bank and get good interest, daily income
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