To make our future better, it is very important to invest on time so that we do not have to take help from anyone when needed. Although there are many investment options, today through this news we are going to tell you about some savings plans of the post office, which have better interest rates as well as tax benefits. Apart from this, there is no possibility of risk in it.
Post Office Savings Account…
It is just like a bank savings account. The only difference is that in this you have to go to the post office to open the account. Under this, even a minor can open his account. It gives interest at the rate of 4%.
Post Office Monthly Income Scheme…
This scheme is for a period of up to 5 years, on which 7.4% interest is given on the amount deposited every month. Under this scheme, you can open your account with a minimum of Rs 1000 in a single holding account, while the maximum limit is Rs 9 lakh and the maximum limit in a joint account is Rs 15 lakh. Accounts opened under this scheme can be transferred from one post office to another across the country. In this, the account can be closed prematurely after one year, but if the original investment is withdrawn between 1 and 3 years, then 2% of the investment has to be paid as penalty and if withdrawn after 3 years, then 1% penalty has to be paid.
Post Office Recurring Deposit or RD.
The annual interest rate on this is 6.7%. This scheme is for 5 years. In this you can deposit up to Rs 100 every month and there is no maximum investment limit. If you miss depositing money in your account in any month, you will have to pay a penalty of Rs 1 for every Rs 100. In this, you can withdraw up to 50 percent of your investment after one year.
Post Office Time Deposit…
In this you can open your account with Rs 1000 and there is no maximum limit. In this, you get 6.9% interest on one year investment, 7.0% on two years, 7.1% on three years and 7.5% on investment up to five years. In this too, the account can be transferred from one post office to another.
Kisan Vikas Patra…
In this, compound interest is available at the rate of 7.5% per annum. In this, the investment amount doubles after every 115 months. In this, the minimum investment amount is Rs 1,000 and there is no maximum limit. Under this scheme, you can invest for 10 years.
Public Provident Fund or PPF…
It offers interest at the rate of 7.1% per annum on investment for 15 years. In this, you can open your account with Rs 500. Opening a joint account is not allowed in this. There is no minimum or maximum age limit to avail the benefits of this scheme.
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