Post Office Schemes: Post Office gives good returns on small saving schemes. Sukanya Samriddhi Yojana and Senior Citizen Saving Scheme get the highest return of 7.6 per cent. According to the 72 rules of investment, here your money will double in the shortest possible time. However, the maturity period of both the schemes is different.
Post Office offers excellent schemes for small depositors. Investors get high interest rate here. Retail investors are more attracted towards it because of the guaranteed returns. The government promises security on all the schemes of India Post, due to which investors with fixed returns have faith in it.
Apart from this, tax benefit is available under section 80C on investment. Many post office schemes are completely tax free. Meaning, there is zero tax on the net return. Let us know about 5 such schemes of India Post which double the money of investors. Know in which scheme the money will double in how many days.
National Savings Certificate
The name of this scheme of India Post is National Savings Certificates. National Savings Certificate gives a return of 6.8%. At least 1000 rupees have to be invested. It will be Rs 1389 after five years. In this scheme, your money will double in 10 and a half years. By the way, this scheme matures in 5 years. In such a situation, after 5 years, when Rs 1389 can be reinvested.
Sukanya Samriddhi Yojana
Currently, 7.6 percent interest is being received in Sukanya Samriddhi Yojana. A maximum investment of Rs 1.5 lakh and a minimum of Rs 250 can be made in a financial year. Annual compound interest is available on this scheme. This post office scheme will double your money in nine and a half years i.e. 113 months. By the way, after 21 years of investing in this scheme, the benefit of maturity is available.
Kisan Vikas Patra
Presently 7 percent return is available on Kisan Vikas Patra. You can invest at least Rs 1000 in this ski in a financial year. Thereafter investment can be made in multiples of 100. It does not have a maximum limit. In this scheme your money will double in 123 months.
Senior Citizen Saving Scheme
The interest rate of Senior Citizen Saving Scheme ie SCSS is 7.6 percent. In this scheme lump sum money is deposited. A minimum of Rs 1000 and a maximum of Rs 15 lakh can be invested. In this scheme, your money will double in nine and a half years i.e. 113 months. The maturity of this account is completed in 5 years. Interest is paid every quarter in this scheme.
Public provident fund
Public Provident Fund is getting a return of 7.1 percent. A minimum of Rs 500 and a maximum of Rs 1.5 lakh can be deposited in a financial year. Investment can be made in lump sum or in installments. Interest is compounded annually. This scheme will double your money in 122 months.