This is the best saving scheme of Post Office and LIC, know how you can invest?

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New Delhi. If you also want to secure your and your family’s future, then know about these best schemes of Post Office and LIC.




By the way, the post office offers 9 savings schemes, on which the current interest rate is up to 7.6 percent per annum. At the same time, LIC also offers many savings schemes. Let’s know about them…Also Read: How to change or update bank details in EPF account, know its online process

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From Savings Account, Time Deposit (TD) Account to SCSS, PPF, KVP, NSC, MIS and Sukanya Samriddhi Account (SSY) can be opened in the post office.

Monthly Income Scheme (MIS)

Monthly Income Scheme (MIS) is an investment scheme run under the Union Ministry of Communications. Even if you want a fixed amount every month for essential expenses, then the Post Office Monthly Income Scheme is the right option for you. The Post Office Monthly Income Scheme (POMIS) offers an interest rate of 6.6% per annum. An account can be opened in the post office MIS with a minimum of Rs 1000. In this your capital is safe. Also, it gives better returns as compared to debt instruments.Also Read: Now the same person can get the benefit of two pensions, new rules issued, read in detail here

Senior Citizen Savings Scheme (SCSS)

The maturity period of this scheme is 5 years. The current interest rate on SCSS is 7.4 per cent 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, an account can be opened by a person of the age of 60 years or more.

5 Year Recurring Deposit (RD)

RD is opened in the post office on the 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 annum. Account can be opened in single or joint, in the name of minor above 10 years of age and mentally challenged person. If it is opened before the 15th of the month, then your monthly installation should be deposited in it before the 15th of every month.Also Read: Bank Deposit locker new rules from 1 january 2022 rbi issued new guidelines customers

Post Office Time Deposit (TD)

TD can be opened from 1 year to 5 years in the post office. The account can be opened with a minimum of Rs 1000, there is no maximum limit. The current interest rate on post office TD ranges from 5.5 per cent to 6.7 per cent per annum.

The policies of Life Insurance Corporation of India (LIC) are very popular. LIC offers a variety of insurance and investment options.Also Read: Jio Recharge: Get calls and internet in less than Rs 100 recharge, know all the benefits




New Bima Bachat Plan

This is a money back plan. In this, on maturity, the single premium along with the loyalty (if any) is returned. This scheme also takes care of the cash requirements of the investor, hence loan facility is available in it. There are policy term options of 9, 12 and 15 years. In the plan, the Sum Assured is payable on death during the first five years of the policy term. On death after the completion of five policy years, the Sum Assured along with the Loyalty Addition, if any, is also payable. The minimum age for investors in New Bima Bachat Plan is 15 years. At the same time, the maximum age is 50 years.

New Jeevan Shanti deferred annuity plan

LIC has offered this scheme for pension after retirement. It is a non linked, non participating, individual, single premium, deferred annuity plan. In a statement issued by LIC, it has been said that ‘The annual rate guarantee for the new Jeevan Shanti policy is given at the inception of the policy itself.’ For a joint life plan, you have to invest at least Rs 1.5 lakh. Which you can pay on yearly, half yearly, quarterly or monthly basis as per your convenience. The minimum annuity i.e. annual salary in this plan is Rs 12,000.

LIC New Children’s Money Back Plan

Life Insurance Corporation of India also has a similar scheme, which has been designed keeping in mind the needs of the children. The minimum age to take this insurance is 0 years. The maximum age for taking insurance is 12 years. Its minimum sum insured is Rs 10,000. Premium waiver benefit rider option also available. The total term of LIC’s New Children’s Money Back Plan is 25 years. Under this plan, LIC pays 20% of the Basic Sum Assured on the child’s age of 18 years, 20 years and 22 years.

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