Post Office Saving Scheme: There are many options to invest money in the market. Many times investors get confused as to where and how much they should invest. There are many options for personal savings in the market.
There are many investment options in public and private sector. In these too, the Postal Service Scheme is quite popular among the people. The post office investment scheme comes with a government guarantee. Also, the interest earned on post office schemes is higher than others. Let us know about these schemes.
15 Years PPF Fund Account
A minimum of Rs 500 and a maximum of Rs 1,50,000 can be invested in PPF in a financial year. Right now interest is being received at the rate of 7.1 per cent. Its maturity period is 15 years. However, it can be extended. In this, exemption is available under section 80C.
National Savings Certificates
National Savings Certificate comes with a maturity of 5 years. It is getting interest at the rate of 7 percent and this interest is available at the time of maturity. You can invest in NSC in multiples of Rs 100, 500, 1000, 5000 and 10,000. You can also use NSC to take a loan.
Sukanya Samriddhi
Sukanya Samriddhi Yojana is being run to promote the girl child. The government is paying an interest of 7.6 per cent on this. You can invest in this for a child up to 10 years of age.
Senior Citizen Savings Scheme
The maturity period of the senior citizen’s savings scheme is 5 years. You can invest in it in multiples of Rs 1,000. Can’t invest more than 15 lakhs in this. There is an interest of 8 percent on this. Individuals in the age group of 55 to 60 years can invest in this.
Post Office Monthly Income Scheme Account
The Post Office Monthly Income Scheme account offers an annual interest of 7.1 per cent. In this one has to invest in multiples of 1,500. You can invest a maximum of Rs 4.5 lakh in this. Rs 9 lakh has to be invested in a joint account.
