Post Office Public Provident Fund (PPF), Sukanya Samriddhi Yojana and Senior Citizen Savings Scheme (SCSS) are some of the schemes where you can get more than 7 per cent returns. At the same time, in another popular scheme Kisan Vikas Patra (KVP), you can take advantage of 6.9 percent compound interest annually. Here we will tell what is special in the Kisan Vikas Patra (KVP) scheme.

c (KVP)

KVP is an interesting scheme. This scheme can double your deposit amount in 10 years and 4 months (124 months) at the prevailing interest rate. If you start a KVP deposit of Rs 1 lakh today, it will increase to Rs 2 lakh in the next 124 months.

The current interest rate of 6.9% on KVP deposits is higher than that of many bank fixed deposits. Let us have a look at some of the key features of this small savings scheme-

• Minimum and Maximum Deposit: You can deposit a minimum of Rs 1000 in KVP and then in multiples of Rs 100. There is no maximum limit for investment under this scheme. You can open any number of KVP accounts.
• Maturity: The amount deposited under KVP matures as per the period prescribed by the Ministry of Finance from time to time. Currently, if you deposit today, it will mature after 124 months. However, premature withdrawal is allowed in special circumstances.
• Transfer : In case of death of the account holder, the KVP account for the nominee/legal heir can be transferred from person to person- to the joint holder on the death of the account holder; On the orders of the Court and mortgage of the account to the Specified Authority.

Should I invest in Small Savings Scheme?

Small savings schemes like KVP offered by the post office offer guaranteed returns to investors who cannot afford to lose their hard earned money. Apart from this, many post office schemes like PPF, SSY and SCSS offer higher interest rates and tax benefits as compared to term deposits of banks.

However, if you are not afraid of taking risks, you can invest in market-oriented schemes like mutual funds and stocks. Here you can get higher returns and double the money faster than in the post office scheme. But before investing in mutual funds or stocks, you should do thorough research and consult a professional financial advisor.

The post New Post Office Plan: Big news! Doubling money with post office scheme Rs 1,00,000 to Rs 2,00,000 in 124 months , know here complete details first appeared on Rightsofemployees.com.

Post Office Public Provident Fund (Post Office PPF Scheme) gives you a chance to become a millionaire. For this you just have to invest Rs 417 everyday. Although the maturity period of this account is 15 years, but you can extend it twice for 5-5 years. Along with this, you also get tax benefit in this scheme. At the same time, the most important thing is that you get 7.1 percent interest annually in this scheme and which also gives you the benefit of compound interest every year. Let us also tell you how this scheme can make you a millionaire.

Know details of post office PPF account

If you invest for 15 years i.e. till maturity and deposit a maximum of Rs 1.5 lakh annually ie Rs 12500 per month and Rs 417 per day, then your total investment will be Rs 22.50 lakh. At the time of maturity, you will also get the benefit of compounding with an annual interest of 7.1%. In this, at the time of maturity, you will get Rs 18.18 lakh as interest. That is, you will get a total of Rs 40.68 lakh.

How will you become a millionaire?

On the other hand, if you want to become a millionaire from this scheme, then you can extend your investment in this scheme for 5-5 times twice after 15 years. By investing Rs 1.5 lakh annually, your total investment will be Rs 37.50 lakh. After maturity, you will get Rs 65.58 lakh with an interest rate of 7.1 percent. That is, after 25 years, your total fund will be 1.03 crores.

Who can open PPF account

Any resident including salaried, self-employed, pensioners etc. can open an account in PPF of the post office.
Only one person can open this account.
You cannot open a joint account in this.
– A minor PPF account can be opened in a post office by a parent/guardian on behalf of a minor child.
– Non-resident Indians cannot open an account in this. If a resident Indian becomes an NRI before the maturity of the PPF account, he can continue to operate the account till maturity.

Required documents of post office PPF account

Identity Proof – Voter ID, Passport, Driving License, Aadhar Card
Address Proof – Voter ID, Passport, Driving License, Aadhar Card
PAN Card
Passport Size Photograph
Enrollment Form – Form E

Know the specialty of PPF account

1. The maximum deposit allowed in a PPF account during a financial year is Rs 1.5 lakh.
2. The number of deposits in Post Office PPF is limited to 12 annually.
3. PPF is an EEE investment i.e. principal amount invested, interest earned and maturity amount are all tax-free.
4. The minimum annual investment required to keep the account active is Rs.500.
5. Interest on Post Office PPF account is compounded annually and is paid on 31st March every year.

The post New Post Office Scheme: Deposit just Rs 417 in this government scheme, you will get 1 crore on maturity, see details first appeared on Rightsofemployees.com.

Post Office Public Provident Fund (PPF), Sukanya Samriddhi Yojana and Senior Citizen Savings Scheme (SCSS) are some of the schemes where you can get more than 7 per cent returns. At the same time, in another popular scheme Kisan Vikas Patra (KVP), you can take advantage of 6.9 percent compound interest annually. Here we will tell what is special in the Kisan Vikas Patra (KVP) scheme.

Kisan Vikas Patra (KVP)

KVP is an interesting scheme. This scheme can double your deposit amount in 10 years and 4 months (124 months) at the prevailing interest rate. If you start a KVP deposit of Rs 1 lakh today, it will increase to Rs 2 lakh in the next 124 months.

The current interest rate of 6.9% on KVP deposits is higher than that of many bank fixed deposits. Let us have a look at some of the key features of this small savings scheme-

• Minimum and Maximum Deposit: You can deposit a minimum of Rs 1000 in KVP and then in multiples of Rs 100. There is no maximum limit for investment under this scheme. You can open any number of KVP accounts.
• Maturity: The amount deposited under KVP matures as per the period prescribed by the Ministry of Finance from time to time. Currently, if you deposit today, it will mature after 124 months. However, premature withdrawal is allowed in special circumstances.
• Transfer : In case of death of the account holder, the KVP account for the nominee/legal heir can be transferred from person to person- to the joint holder on the death of the account holder; On the orders of the Court and mortgage of the account to the Specified Authority.

Should I invest in Small Savings Scheme?

Small savings schemes like KVP offered by the post office offer guaranteed returns to investors who cannot afford to lose their hard earned money. Apart from this, many post office schemes like PPF, SSY and SCSS offer higher interest rates and tax benefits as compared to term deposits of banks.

However, if you are not afraid of taking risks, you can invest in market-oriented schemes like mutual funds and stocks. Here you can get higher returns and double the money faster than in the post office scheme. But before investing in mutual funds or stocks, you should do thorough research and consult a professional financial advisor.

The post Post Office New Plan: Doubling money with post office scheme Rs 1,00,000 to Rs 2,00,000 in 124 months , know here complete details first appeared on Rightsofemployees.com.

Many such schemes are run by the Post Office Saving Schemes, through which you can easily double your money in a few years. If you are also looking for a scheme to double the money, then today we will tell you about such schemes, in which your money will be doubled soon. Let us tell you how many years it will take for you to double your money in these schemes.

These schemes include Post Office Time Deposit, Post Office Savings Account, Post Office Recurring Deposit, Post Office Monthly Income Scheme, Post Office Public Provident Fund, Post Office Senior Citizens Savings Scheme, Post Office Sukanya Samriddhi Account and Post Office National Savings Certificate. .

1. Post Office Time Deposit To double the money, post office time deposit is the best scheme. In this, interest of 5.8 percent is available on time deposits from 1 to 3 years. By investing in it, your money will double in about 13 years.

2. Post Office Monthly Income Scheme The money in the Post Office Monthly Income Scheme doubles in about 10.91 years. In this, you get the benefit of interest at the rate of 6.7 percent.

3. Post Office Senior Citizens Savings Scheme

The money in the Senior Citizen Savings Scheme of the Post Office will double in about 9.73 years. In this, the benefit of interest will be available at the rate of 7.6 percent.

4. It will take about 18 years to double the money in the Post Office Savings Account. Let us tell you that this scheme takes the most time because the rate of interest is also low in it. At present, customers are getting interest at the rate of 4 percent in this.

5. Post Office Recurring Deposit Money in Post Office Recurring Deposit will double in about 12.41 years. In this, you get the benefit of interest at the rate of 5.8 percent.

6. Post Office National Saving Certificate

The National Saving Certificate of the Post Office is getting 6.8 percent interest. Investing in this 5-year savings scheme will double the money in about 10.59 years.

Let us tell you that after a long time, the central government has increased the interest rates of some small savings schemes. The increase in the interest rates of these small savings schemes has become effective from October 1. If you are looking for a safe option to invest, then Post Office Savings Scheme can be a better option for you.

The post Post Office Launch New Plan: Good News! Money will be doubled in these 6 schemes of Post Office, check all details here first appeared on Rightsofemployees.com.

Post Office Public Provident Fund (PPF), Sukanya Samriddhi Yojana and Senior Citizen Savings Scheme (SCSS) are some of the schemes where you can get more than 7 per centn returns. At the same time, in another popular scheme Kisan Vikas Patra (KVP), you can take advantage of 6.9 percent compound interest annually. Here we will tell what is special in the Kisan Vikas Patra (KVP) scheme.

c (KVP)

KVP is an interesting scheme. This scheme can double your deposit amount in 10 years and 4 months (124 months) at the prevailing interest rate. If you start a KVP deposit of Rs 1 lakh today, it will increase to Rs 2 lakh in the next 124 months.

The current interest rate of 6.9% on KVP deposits is higher than that of many bank fixed deposits. Let us have a look at some of the key features of this small savings scheme-

Minimum and Maximum Deposit: You can deposit a minimum of Rs 1000 in KVP and then in multiples of Rs 100. There is no maximum limit for investment under this scheme. You can open any number of KVP accounts.
Maturity: The amount deposited under KVP matures as per the period prescribed by the Ministry of Finance from time to time. Currently, if you deposit today, it will mature after 124 months. However, premature withdrawal is allowed in special circumstances.
Transfer : In case of death of the account holder, the KVP account for the nominee/legal heir can be transferred from person to person- to the joint holder on the death of the account holder; On the orders of the Court and mortgage of the account to the Specified Authority.

Should I invest in Small Savings Scheme?

Small savings schemes like KVP offered by the post office offer guaranteed returns to investors who cannot afford to lose their hard earned money. Apart from this, many post office schemes like PPF, SSY and SCSS offer higher interest rates and tax benefits as compared to term deposits of banks.

However, if you are not afraid of taking risks, you can invest in market-oriented schemes like mutual funds and stocks. Here you can get higher returns and double the money faster than in the post office scheme. But before investing in mutual funds or stocks, you should do thorough research and consult a professional financial advisor.

The post Post Office New Plan: Doubling money with post office scheme Rs 1,00,000 to Rs 2,00,000 in 124 months , know here complete details first appeared on Rightsofemployees.com.

Post Office Public Provident Fund (PPF), Sukanya Samriddhi Yojana and Senior Citizen Savings Scheme (SCSS) are some of the schemes where you can get more than 7 per cent returns. At the same time, in another popular scheme Kisan Vikas Patra (KVP), you can take advantage of 6.9 percent compound interest annually. Here we will tell what is special in the Kisan Vikas Patra (KVP) scheme.

c (KVP)

KVP is an interesting scheme. This scheme can double your deposit amount in 10 years and 4 months (124 months) at the prevailing interest rate. If you start a KVP deposit of Rs 1 lakh today, it will increase to Rs 2 lakh in the next 124 months.

The current interest rate of 6.9% on KVP deposits is higher than that of many bank fixed deposits. Let us have a look at some of the key features of this small savings scheme-

• Minimum and Maximum Deposit: You can deposit a minimum of Rs 1000 in KVP and then in multiples of Rs 100. There is no maximum limit for investment under this scheme. You can open any number of KVP accounts.
• Maturity: The amount deposited under KVP matures as per the period prescribed by the Ministry of Finance from time to time. Currently, if you deposit today, it will mature after 124 months. However, premature withdrawal is allowed in special circumstances.
• Transfer : In case of death of the account holder, the KVP account for the nominee/legal heir can be transferred from person to person- to the joint holder on the death of the account holder; On the orders of the Court and mortgage of the account to the Specified Authority.

Should I invest in Small Savings Scheme?

Small savings schemes like KVP offered by the post office offer guaranteed returns to investors who cannot afford to lose their hard earned money. Apart from this, many post office schemes like PPF, SSY and SCSS offer higher interest rates and tax benefits as compared to term deposits of banks.

However, if you are not afraid of taking risks, you can invest in market-oriented schemes like mutual funds and stocks. Here you can get higher returns and double the money faster than in the post office scheme. But before investing in mutual funds or stocks, you should do thorough research and consult a professional financial advisor.

The post Post Office New Plan: Doubling money with post office scheme Rs 1,00,000 to Rs 2,00,000 in 124 months , know here complete details first appeared on Rightsofemployees.com.