5 Post Office Savings Schemes, Which is getting the most Interest Rate

Post Office Schemes: Post office savings schemes are a better option for investment. By investing in them, you can fulfill important financial goals of life.

Post Office: If you are thinking of investing and want to get the benefit of income tax exemption along with better returns, then post office savings schemes are a better option for you. By investing in them, you can fulfill important financial goals of life. Today we will tell you in which savings schemes of the post office are being given the highest interest.

Sukanya Samriddhi Yojana

• This scheme was started under the 'Beti Bachao Beti Padhao' campaign.
• Under this scheme, a parent or legal guardian can open an account in the name of the girl child.
• The age limit of the girl child should be less than 10 years to open the account.
• Under this, only one account can be opened in the name of each girl child.
• In this scheme of a post office, the highest interest is getting 7.60 percent.
• In this, tax exemption is available under 80C.

National Saving Certificate (NSC)

• Interest is getting 6.8% 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 a joint account can be opened in the name of 3 adults.
• Minors above the age of 10 years can also open an account under the supervision of their parents.
• By investing, you can save tax on an amount up to Rs 1.5 lakh under Section 80C of the Income Tax Act.

Public Provident Fund

• At present, 10 percent interest is being received on the amount deposited in the Post Office Public Provident Fund accounts.
• This plan comes with EEE status. In this, tax benefits are available in three places. Contribution, interest income, and maturity amount, three are tax-free.
• The benefit of tax exemption is available under section 80C of the Income Tax Act.
• PPF account can be opened with only Rs.500. But later it is necessary to deposit Rs 500 every year in one go.
• Only a maximum of Rs 5 lakh can be deposited in this account every year.
• This scheme is for 15 years, from which it cannot be withdrawn in the middle. But it can be extended for 5-5 years after 15 years.

Kisan Vikas Patra

• Kisan Vikas Patra Scheme is a one-time investment scheme of the Government of India.
• In this, your money doubles in a fixed period.
• Currently, 6.90 percent interest is being given in this scheme.
• Government guarantee is available on post office schemes, so there is absolutely no risk in it.
• In this, tax exemption is not available under section 80C.

Senior Citizens Savings Scheme-SCSS

• In this scheme, interest is available at the rate of 7.4 percent.
• Age should be 60 years to open an account in this.
• The minimum investment is Rs 1000 and the maximum is Rs 15 lakh.
• Deposits mature after 5 years from the date of account opening, but this period can be extended only once for 3 years.
• Being backed by the government, the returns on it are guaranteed.
• In this, tax exemption is available under 80C.

Read More: Hrithik Roshan Replied to a Fan who Spotted a Damp Wall in a Recent Picture

Like and Follow us on:

Twitter          Facebook         Instagram          YouTube