Post Office Schemes VS Bank FD: Due to the continuous increase in the repo rate, many banks have increased their FD rates, but even after this, more interest is being received on many post office schemes.
Post Office Schemes Interest Rate: Although there are many investment options available in the market, but many people prefer to invest in risk free schemes only. Post office scheme is considered a very good investment option.
There are many post office schemes that offer higher interest rates than bank FDs. Along with this, you will also get the benefit of tax exemption by investing in these schemes.
If you are thinking of investing for the future of your daughter, then Sukanya Samriddhi Yojana is the best option for you. By investing in this, you can get a rebate of Rs 1.5 lakh every financial year. At the same time, 8 percent interest is being received on the amount invested under this scheme.
By investing in the National Savings Certificate of the Post Office, you get 7.7% interest rate on the deposited amount. Along with this, a deduction of Rs 1.5 lakh is available under Section 80C of Income Tax on the amount deposited in this account.
The Senior Citizen Savings Scheme of the Post Office is specially designed for senior citizens. On investing in this scheme, the rate of interest is being received at the rate of 8.2 percent.
On investing in the time deposit scheme of the post office, you will get 7.5 percent interest rate over a period of 5 years. By investing in a five-year FD scheme, you will get a deduction of Rs 1.5 lakh under Section 80C of Income Tax.
On the other hand, talking about the FD scheme of SBI, ordinary citizens are getting 6.50 percent interest rate on FDs of 5 to 12 years. At the same time, senior citizens are getting 7.50 percent interest rate. On the other hand, on SBI’s Amrit Kalash, general customers are getting 7.10 percent and senior citizens are getting 7.60 percent interest rate.