Everyone wants to save some amount of their income and invest it in a place where their money is safe and they get great returns. If you are also planning to invest with this in mind, then Post Office Saving Schemes can prove to be the right option.

The government is running savings schemes for every age group through the post office and one of the special schemes is the National Savings Certificate (NSC). By investing in this scheme, you can get a benefit of Rs 5 lakh in just five years. Let’s know about it in detail…

The scheme is offering a great interest of 7.7%

Post Office’s National Savings Scheme or National Savings Certificate Scheme (NSC Scheme) is one of the most popular small savings schemes due to its returns and benefits. NSC Account can be opened in any post office in the country with a minimum investment of Rs 1,000. It offers an annual interest of 7.7 per cent on investment and under the scheme, this interest rate is offered on the basis of compounding. In this, the interest amount is transferred to the account only after 5 years of investment. The interest rates of NSC and other post office small savings schemes are revised every three months. The special thing is that the government itself guarantees security of investment in these schemes.

Along with strong interest, NSC account holders also

get the tax benefits of Section 80C of the Income Tax Act, which makes this Post Office Scheme even more popular. This is the reason why the number of people investing in it is constantly increasing. By investing in National Savings Certificate, you can save tax on a maximum of Rs 1.5 lakh in a financial year while claiming tax exemption. There is no maximum limit set for investment in this, that is, you can invest as much as you want.

5-year lock-in period

If you want to take full advantage of the interest offered in this government scheme, then you will have to keep your investment till the lock-in period, only then you will be paid the full interest. NSC has a lock-in period of 5 years. In other words, if you open an account in this savings scheme and close it after running it for one year, then you will only be returned the amount invested by you, not a single penny of interest.

In such a situation, it is necessary to operate it for the entire five years. Apart from this, the facility of opening an account in the name of children is also provided in the NSC scheme. As per the rules, the account opened in the name of a child below 10 years of age is operated by his parents. You can go to the nearest post office. Apart from this, the facility of online investment is also provided in it.

Calculation of 5 lakhs in five years

Now let us tell you how you can earn five lakh rupees in just five years. So let us tell you that the interest rate of NSC scheme is 7.7% and if an investor invests Rs 11,00,000 in it at one go for five years. In such a situation, with compounding interest, you will get Rs 15,93,937 on maturity. According to the interest rate, you will get a total interest of Rs 4,93,937 in these five years. At the same time, you can get more benefit by increasing the investment.

The post Post Office’s Dhansu scheme… Direct benefit of ₹ 5 lakh in five years, tax will also be saved first appeared on Rightsofemployees.com.

Everyone wants to save some of their income and invest it in a place where they get a strong return and the money is also safe. One such scheme is Post Office Scheme, the special thing about which is that the money of those who invest in it doubles in just 115 months. Let us know about this special Kisan Vikas Patra or KVP Scheme in detail…

Scheme to double the money

Small Saving Schemes of Post Office are quite popular in terms of strong returns without risk. In this, Kisan Vikas Patra (KVP) can prove to be an excellent option. By investing in this government scheme, the money doubles in just 115 months. In this, you can invest at least Rs 1000 in multiples of 100. The special thing is that there is no maximum limit in this. You can invest as much money as you want.

This much interest is available on investment

Under this Post Office Scheme, interest is decided on quarterly basis. On the other hand, if we talk about the interest received on KVP scheme, then currently an interest rate of 7.5 percent is being given. This interest is issued on an annual basis. Along with this, let us tell you that an account can also be opened in this Govt Scheme in the name of a child above 10 years of age.

5 lakh rupees will become 10 lakhs

Now let’s talk about how investing in this government scheme doubles the money. So its calculation is very easy. Suppose an investor invests 5 lakh rupees in the Kisan Vikas Patra scheme and stays in this scheme till maturity i.e. 115 months, then he will get 5 lakh rupees only from interest on the basis of 7.5 percent interest. This means that investors will get 10 lakh rupees on maturity. It is worth noting that according to the information available on the post office website, the interest on the amount invested in Kisan Vikas Patra is calculated on a compounding basis.

It is worth noting here that the amount received by the investor also includes tax. The government had first reduced the maturity period of Kisan Vikas Patra from 123 months to 120 months and then it was reduced to 115 months. That is, the benefit of the scheme is available in less time than before.

How many accounts can be opened in KVP

Under the Kisan Vikas Patra Scheme, both single and double accounts can be opened. Along with this, no limit has been set for the number of accounts a person can open. Meaning you can open 2, 4, 6 or as many Kisan Vikas Patra accounts as you want.

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Interest rates range from 6.9% to 7.5%, which is higher than other banks. Tax benefits are also available in this scheme. This scheme is available for all age groups…

National Desk: If you are looking for better returns along with keeping your money safe, then the Post Office Time Deposit Scheme can be a great option for you. This scheme is not only safe, but the interest received in it is also attractive, which makes it special compared to other investment options.

What is Post Office Time Deposit Scheme?

Post Office Time Deposit Scheme is a savings scheme, which is run by the Indian Postal Department. This scheme is for those who want to keep their money safe and want better returns in a fixed time period. There is no age limit for investment in this scheme, that is, anyone from children to the elderly can take advantage of this scheme.

Scheme Features

1. Investment period: In this scheme, you can invest for a period of 1, 2, 3 or 5 years. This flexibility helps you choose the right option according to your financial plans.

2. Interest Rate: The interest rate in this scheme is fixed according to different tenures:

– 1 year tenure: 6.9% interest

– 2 to 3 years tenure: 7% interest

– For 5 years: 7.5% interest

These rates are better than other bank’s fixed deposit schemes, making this scheme more profitable.

3. Security: This scheme comes under government security, so your money is completely safe.

4. Tax Benefit: By investing in this scheme, you can also get the benefit of tax exemption under income tax, which further increases your total savings.

How to invest?

Investing in this scheme is very easy. All you have to do is go to your nearest post office and fill an application form. Along with the application form, you also have to submit documents of your identity and proof of address. The minimum investment amount is Rs 1,000, and you can deposit the amount as per your convenience. You can also invest multiple times in this scheme.

Interest calculation and returns

Now let’s see what benefits you can get by investing in this scheme. Suppose you invest Rs 5 lakh for 5 years. In this case, you will get around Rs 7,24,974 after maturity. Out of this, Rs 2,24,974 will be in the form of interest only. Similarly, if you invest Rs 2 lakh, you will get around Rs 2,89,990 on maturity. The interest you earn on this will be around Rs 89,990.

Long-term benefits

If you are thinking of investing your money for a long period, then this scheme may be better for you. In a period of 5 years, you will not only get good interest, but your investment will also be safe. This will give you financial stability and you will be prepared for unexpected expenses in the future. If you are looking for better returns along with keeping your money safe, then the Post Office Time Deposit Scheme is an excellent option for you. Investing in this scheme will not only give you higher interest rates but it will also help in your long term savings.

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One such scheme is being run through the post office, which will give Rs 2.32 lakh in just 2 years. This scheme comes under the Small Savings Scheme.

There is almost no risk in all the schemes run under the post office. Apart from this, you get the benefit of tax benefits, monthly income and guaranteed returns. Some schemes are for retirement, which guarantee financial help when you retire. Today we are going to tell you about the Mahila Samman Saving Certificate scheme of the post office. Let us know the complete details about it.

What is Mahila Samman Saving Certificate Scheme?

Mahila Samman Saving Certificate Scheme was started by the government to provide financial assistance to women. Under this scheme, you can deposit from Rs 1000 to Rs 2 lakh. The amount deposited should be in multiples of 100 only. Many accounts can be opened under this scheme, but the maximum deposit amount should not exceed Rs 2 lakh. There should be a gap of 3 months between the date of opening the second account under this scheme.

Also Read: Bank Holidays: Banks will remain closed for 10 days in June, list of holidays released

How much interest will you get?

In this scheme, the interest rate is given at the rate of 7.5% per annum. However, the interest is credited on a three-monthly basis. The maturity period of this scheme is only 2 years. However, a maximum of 40% of the remaining amount can be withdrawn after one year from the date of deposit. The facility of partial withdrawal is available only once before maturity.

You will get Rs 2.32 lakh on maturity.

If you invest a maximum of Rs 2 lakh in this scheme, then at the rate of 7.50 percent interest, you will get an interest of Rs 32044. In this way, a total of Rs 2,32044 will be given on maturity in two years.

Terms and conditions of the scheme

If the account holder dies, the nominee or family members can withdraw this deposit amount. In case of life-threatening diseases, the amount can be withdrawn for medical assistance. After withdrawing the money, you can also close the account. Closing the account is allowed after 6 months of opening the account. In such a case, you will be given the amount at 2 percent less interest.

The post Post Office’s Dhansu scheme: You will get Rs 2.32 lakh in just 2 years, know the details first appeared on Rightsofemployees.com.

From time to time the government introduces many savings schemes for farmers. In this series, India Post has created different risk free savings schemes which give high returns while securing the future of the people living in rural areas of the country. Gram Suraksha Yojana is the most popular among the many rural postal life insurance schemes launched by the post office. Let us know everything about Gram Suraksha Scheme.

Village Security Scheme

Gram Suraksha Yojana is run under the Rural Postal Life Insurance Scheme of the Post Office. In this scheme, you can invest Rs 50 every day and get an amount of Rs 35,00,000 on maturity. This scheme has been specially designed for the rural population.

Who can invest?

Any person between the age of 19 years to 55 years can invest in the Gram Suraksha Yojana Scheme. The minimum sum assured in this post office scheme is Rs 10,000 and the maximum is Rs 10 lakh. In this scheme, premium can be deposited on monthly, quarterly, half yearly or yearly basis.

How much amount will you get?

If a person invests Rs 1,500 every month i.e. just Rs 50 daily in this scheme, then he can get a return of up to Rs 35 lakh on maturity of the scheme. If you buy a Gram Suraksha Yojana of Rs 10 lakh at the age of 19, then you will have to pay a premium of Rs 1,515 every month for 55 years. At the same time, Rs 1,463 will have to be deposited every month for 58 years and Rs 1,411 for 60 years.

Loan facility

Those investing in this scheme get loan facility after four years. If a policyholder wants to surrender it, he can do so after three years from the date of commencement of the policy. Bonus is also available on investment in this scheme after five years.

When will you get the money

The entire policy amount i.e. Rs 35 lakh is handed over to the beneficiary investing in Post Office Gram Suraksha Yojana on completing the age of 80 years, but many people demand the amount even earlier if required. In such a situation, according to the rules, a profit of Rs 31 lakh 60,000 is available on investment of 55 years, Rs 33 lakh 40,000 on investment of 58 years and Rs 34 lakh 60,000 on maturity of 60 years.

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If you want to get good returns by investing and are looking for safe investment, then this news is for you. Actually, Saving Schemes of Post Office can be the right choice in this case, because investment in it is considered safe. Many schemes of Post Office are very popular among the people. One of these is Recurring Deposit Plan (Post Office Recurring Deposit) which gives excellent returns along with guaranteed security.

Government has increased the interest rate

Recently, the Central Government has increased the rate of interest received by the investors on this saving scheme of the post office by revising it. The government has increased the interest rate from 6.2 percent to 6.5 percent for the July-September quarter. That is, the interest rate of Post Office Recurring Deposit Scheme has been increased by 30 basis points. In such a situation, investing in this savings scheme is now proving to be even more profitable.

Investment can start from Rs 100.

Significantly, the central government revises the interest rates of its savings scheme on a quarterly basis. You can invest in Post Office’s Recurring Deposit Scheme for a period of one year, two years or more as per your convenience. The minimum age limit for taking this scheme has been set at 18 years, that is, anyone older than this can invest. Relatives can open it in the name of their minor children, otherwise facility has also been given to open joint account. By opening an account in this scheme, you can start investing with just Rs.100. This is where it can now be invested for 10 years.

You can deposit money for 10 years,

the money invested in this government scheme is completely safe and the interest is also better. A hefty fund can be accumulated by investing a fixed amount every month for 10 years. However, the interest rates of Post Office Recurring Deposit Scheme as well as other savings schemes are revised every three months, so they may increase or decrease. But if the current interest rate remains constant, then according to this, an investor can get Rs 8 lakh in 10 years by depositing Rs 5,000 every month.

This is the complete calculation of interest.

If you look at the calculation, if you deposit a fixed amount of Rs 5,000 every month in the post office’s recurring deposit account and continue this process for the whole 10 years, then at the current rate of 6.5 percent you will get on your deposit. 2.46 lakhs. At the same time, the total amount deposited by you will be 6 lakh rupees. Accordingly, you will get Rs 8.46 lakh after 10 years. Now in the meantime, if the government revises and increases the interest rates, then accordingly the interest you get will also increase and more money will come in hand.

Loan facility to the account holder

can be closed after 3 years of opening the account in Post Office Recurring Deposit Scheme. At the same time, after one year of starting the investment, up to 50 percent loan facility is also given in it. Simply put, if a person deposits the installments for 12 months after opening an account in this scheme, then on the basis of this one can get loan from banks. In this scheme, you can take half the amount as loan on your total deposit.

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This government scheme is for those people whose age is more than 60 years. Apart from this, those people who have taken VRS from the job. They can also take advantage of this scheme. Its interest rate is higher than FD and savings  account. At present, SCSS is getting interest at the rate of 8.2 percent. Let us know the special things related to this scheme.

The scheme matures in 5 years

A minimum of Rs 1000 and a maximum of Rs 30 lakh can be deposited in this account. Money can be deposited in the scheme in multiples of Rs 1000. In this scheme, you get interest every 3 months on your investment. This account will mature in 5 years. If the depositor wishes, he can extend his money for another 3 years after 5 years. You will get this extension option only once.

Interest on deposits of 5, 10, 15, 20 and 30 lakhs

If you invest Rs 5 lakh in this scheme for 5 years, then at the rate of 8.2% you will get Rs 2,05,000 as interest. In this way you will get Rs 7,05,000 on maturity. Depositing Rs 10 lakh will get you Rs 14,10,000 on maturity, depositing Rs 15 lakh will get you Rs 21,15,000. By depositing Rs 20 lakh, you will get Rs 28,20,000 on maturity. Whereas, on depositing Rs 30 lakh, you will get Rs 42,30,000. This is such a good interest that you will not get so quickly on any other scheme.

Benefits of the scheme

Senior Citizen Savings Scheme is a small savings scheme of the Government of India. This account can be transferred anywhere in India. By investing in this scheme, you get exemption under income tax. Under this scheme interest is paid every three months. Interest is credited to your account on the first day of every April, July, October and January.

How to open account

You have to fill a form to open this account in post office or public private sector banks. Along with this, two passport size photographs, identity proof and other KYC documents will be required.

The post Post Office’s Dhansu scheme: On depositing 5 lakhs, you will get an interest of 2 lakh rupees, check the scheme first appeared on Rightsofemployees.com.

This is the reason why the common man of the country always chooses such an option where along with the security of his investment, better returns are also guaranteed. In such a situation, fixed deposit schemes of banks and savings schemes of post offices are the first choice of common people. Today, the post office is giving tough competition to the top banks of the country in terms of giving hefty returns to the customers. Meanwhile, the post office has issued the Kisan Vikas Patra (KVPThe rate of interest offered under the scheme has also been increased.

Your money will be doubled before 5 months

The post office has increased the interest rate on Kisan Vikas Patra Saving Schemes from 7.2 per cent to 7.5 per cent. The new interest rates have also been implemented from April 1. Under the Kisan Vikas Patra scheme, investors’ money doubles after a fixed time.

When the post office used to pay 7.2 per cent interest on this scheme, it used to take 120 months to double the investors’ money. But now when the interest rate available on the scheme has increased from 7.2 per cent to 7.5 per cent, then instead of 120, your money will double in 5 months less i.e. 115 months (9 years and 7 months).

KVP account can be opened with as little as Rs 1000

Let us tell you that under the Kisan Vikas Patra Saving Scheme, you can open an account with a minimum of Rs 1000. There is no limit on the maximum deposit in this scheme. This post office scheme can be opened with both single and joint accounts. There is an option of joining a maximum of 3 adults in a joint account. If you want to close your account under the Kisan Vikas Patra Scheme, then it can be closed after 2 years and 6 months from the date of opening the account.

The post Post Office’s Dhansu scheme, money will be doubled before time, depositing 10 lakhs, you will get 20 lakhs first appeared on Rightsofemployees.com.

This is the reason why the common man of the country always chooses such an option where along with the security of his investment, better returns are also guaranteed. In such a situation, fixed deposit schemes of banks and savings schemes of post offices are the first choice of common people. Today, the post office is giving tough competition to the top banks of the country in terms of giving hefty returns to the customers. Meanwhile, the post office has issued the Kisan Vikas Patra (KVP) The rate of interest offered under the scheme has also been increased.

Your money will be doubled before 5 months

The post office has increased the interest rate on Kisan Vikas Patra Saving Schemes from 7.2 per cent to 7.5 per cent. The new interest rates have also been implemented from April 1. Under the Kisan Vikas Patra scheme, investors’ money doubles after a fixed time.

When the post office used to pay 7.2 per cent interest on this scheme, it used to take 120 months to double the investors’ money. But now when the interest rate available on the scheme has increased from 7.2 per cent to 7.5 per cent, then instead of 120, your money will double in 5 months less i.e. 115 months (9 years and 7 months).

KVP account can be opened with as little as Rs 1000

Let us tell you that under the Kisan Vikas Patra Saving Scheme, you can open an account with a minimum of Rs 1000. There is no limit on the maximum deposit in this scheme. This post office scheme can be opened with both single and joint accounts. There is an option of joining a maximum of 3 adults in a joint account. If you want to close your account under the Kisan Vikas Patra Scheme, then it can be closed after 2 years and 6 months from the date of opening the account.

The post Post Office’s Dhansu scheme, money will be doubled before time, depositing 10 lakhs, you will get 20 lakhs first appeared on Rightsofemployees.com.

This is the reason why the common man of the country always chooses such an option where along with the security of his investment, better returns are also guaranteed. In such a situation, fixed deposit schemes of banks and savings schemes of post offices are the first choice of common people.

Today, the post office is giving tough competition to the top banks of the country in terms of giving hefty returns to the customers. Meanwhile, the post office has issued the Kisan Vikas Patra (KVPThe rate of interest offered under the scheme has also been increased.

Your money will be doubled before 5 months

The post office has increased the interest rate on Kisan Vikas Patra Saving Schemes from 7.2 per cent to 7.5 per cent. The new interest rates have also been implemented from April 1. Under the Kisan Vikas Patra scheme, investors’ money doubles after a fixed time.

When the post office used to pay 7.2 per cent interest on this scheme, it used to take 120 months to double the investors’ money. But now when the interest rate available on the scheme has increased from 7.2 per cent to 7.5 per cent, then instead of 120, your money will double in 5 months less i.e. 115 months (9 years and 7 months).

KVP account can be opened with as little as Rs 1000

Let us tell you that under the Kisan Vikas Patra Saving Scheme, you can open an account with a minimum of Rs 1000. There is no limit on the maximum deposit in this scheme. This post office scheme can be opened with both single and joint accounts. There is an option of joining a maximum of 3 adults in a joint account. If you want to close your account under the Kisan Vikas Patra Scheme, then it can be closed after 2 years and 6 months from the date of opening the account.

The post Post Office’s Dhansu scheme, money will be doubled before time, depositing 10 lakhs, you will get 20 lakhs first appeared on Rightsofemployees.com.

This is the reason why the common man of the country always chooses such an option where along with the security of his investment, better returns are also guaranteed. In such a situation, fixed deposit schemes of banks and savings schemes of post offices are the first choice of common people. Today, the post office is giving tough competition to the top banks of the country in terms of giving hefty returns to the customers. Meanwhile, the post office has issued the Kisan Vikas Patra – KVP The rate of interest offered under the scheme has also been increased.

Your money will be doubled before 5 months

The post office has increased the interest rate on Kisan Vikas Patra Saving Schemes from 7.2 per cent to 7.5 per cent. The new interest rates have also been implemented from April 1. Under the Kisan Vikas Patra scheme, investors’ money doubles after a fixed time.

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When the post office used to pay 7.2 per cent interest on this scheme, it used to take 120 months to double the investors’ money. But now when the interest rate available on the scheme has increased from 7.2 per cent to 7.5 per cent, then instead of 120, your money will double in 5 months less i.e. 115 months (9 years and 7 months).

KVP account can be opened with as little as Rs 1000

Let us tell you that under the Kisan Vikas Patra Saving Scheme, you can open an account with a minimum of Rs 1000. There is no limit on the maximum deposit in this scheme. This post office scheme can be opened with both single and joint accounts. There is an option of joining a maximum of 3 adults in a joint account. If you want to close your account under the Kisan Vikas Patra Scheme, then it can be closed after 2 years and 6 months from the date of opening the account.

The post Post Office’s Dhansu scheme, money will be doubled before time, depositing 10 lakhs, you will get 20 lakhs first appeared on Rightsofemployees.com.

This is the reason why the common man of the country always chooses such an option where along with the security of his investment, better returns are also guaranteed. In such a situation, fixed deposit schemes of banks and savings schemes of post offices are the first choice of common people. Today, the post office is giving tough competition to the top banks of the country in terms of giving hefty returns to the customers. Meanwhile, the post office has issued the Kisan Vikas Patra KVP The rate of interest offered under the scheme has also been increased.

Your money will be doubled before 5 months

The post office has increased the interest rate on Kisan Vikas Patra Saving Schemes from 7.2 per cent to 7.5 per cent. The new interest rates have also been implemented from April 1. Under the Kisan Vikas Patra scheme, investors’ money doubles after a fixed time.

When the post office used to pay 7.2 per cent interest on this scheme, it used to take 120 months to double the investors’ money. But now when the interest rate available on the scheme has increased from 7.2 per cent to 7.5 per cent, then instead of 120, your money will double in 5 months less i.e. 115 months (9 years and 7 months).

KVP account can be opened with as little as Rs 1000

Let us tell you that under the Kisan Vikas Patra Saving Scheme, you can open an account with a minimum of Rs 1000. There is no limit on the maximum deposit in this scheme. This post office scheme can be opened with both single and joint accounts. There is an option of joining a maximum of 3 adults in a joint account. If you want to close your account under the Kisan Vikas Patra Scheme, then it can be closed after 2 years and 6 months from the date of opening the account.

The post Post Office’s Dhansu scheme, money will be doubled before time, depositing 10 lakhs, you will get 20 lakhs first appeared on Rightsofemployees.com.

This is the reason why the common man of the country always chooses such an option where along with the security of his investment, better returns are also guaranteed. In such a situation, fixed deposit schemes of banks and savings schemes of post offices are the first choice of common people. Today, the post office is giving tough competition to the top banks of the country in terms of giving hefty returns to the customers. Meanwhile, the post office has issued the Kisan Vikas Patra (KVPThe rate of interest offered under the scheme has also been increased.

Your money will be doubled before 5 months

The post office has increased the interest rate on Kisan Vikas Patra Saving Schemes from 7.2 per cent to 7.5 per cent. The new interest rates have also been implemented from April 1. Under the Kisan Vikas Patra scheme, investors’ money doubles after a fixed time.

When the post office used to pay 7.2 per cent interest on this scheme, it used to take 120 months to double the investors’ money. But now when the interest rate available on the scheme has increased from 7.2 per cent to 7.5 per cent, then instead of 120, your money will double in 5 months less i.e. 115 months (9 years and 7 months).

KVP account can be opened with as little as Rs 1000

Let us tell you that under the Kisan Vikas Patra Saving Scheme, you can open an account with a minimum of Rs 1000. There is no limit on the maximum deposit in this scheme. This post office scheme can be opened with both single and joint accounts. There is an option of joining a maximum of 3 adults in a joint account. If you want to close your account under the Kisan Vikas Patra Scheme, then it can be closed after 2 years and 6 months from the date of opening the account.

The post Post Office’s Dhansu scheme, money will be doubled before time, depositing 10 lakhs, you will get 20 lakhs first appeared on Rightsofemployees.com.

The specialty of this small savings schemes is that lump sum investment has to be made in it and there is no maximum limit. As much as the investor wants, he can deposit money in this government scheme. There is also a facility to open multiple accounts in NSC. Also, tax deduction up to Rs 1.5 lakh can be availed under section 80C of income tax on deposits.

If you deposit ₹ 5 lakh, you will get ₹ 6.95 lakh

The Post Office’s National Savings Certificate (NSC) scheme is currently earning interest at the rate of 6.8 per cent per annum. According to the NSC Calculator, if a lump sum amount of Rs 5 lakh is deposited in this scheme, then a total of Rs 6,94,746 will be received on maturity after 5 years.

In this, there will be a guaranteed income of Rs 1,94,746 from interest. The compounding of interest is done on an annual basis but it is paid only on maturity. The maturity of this scheme is 5 years. Investment in National Savings Certificate (NSC) can be done from any post office where the facility of opening savings account is available.

Account can be opened with ₹ 1,000

NSC account opens with a minimum of Rs 1000. At the same time, the maximum limit of investment in this is not fixed. You can deposit in the scheme in multiples of Rs.100. Investment in this is completely safe. Market risk has no effect on it. NSC account can be opened in any post office branch across the country. Any adult can open an account. In this, apart from joint account, parents or legal guardian of children above 10 years of age can buy certificate.

Can’t withdraw in NSC before 5 years. There is an exemption only in certain circumstances. The government revises the interest received on the Small Savings Scheme after 3 months. NSC is accepted by all banks and NBFCs as collateral or security for loans. The investor can nominate any member of his family as a nominee.

The post Post Office’s Dhansu scheme, depositing ₹ 5 lakh will get ₹ 6.95 lakh; Also ₹ 1.5 lakh tax deduction, details first appeared on Rightsofemployees.com.