Post office investment scheme
Post Office Time Deposit Scheme:If you want to put money in a place where there is no risk at all and returns are also found properly, then Post office The time deposit scheme can be a strong option for you. In this, you can start with just ₹ 1000. There is no upper limit to deposit money in it. In this scheme, money can be deposited from one year to five years. The longer you keep money for the longer time, the more interest will be available. Investing for five years is the highest interest.
Bank FD more returns
In this scheme of the post office, interest is getting from 6.9 percent to 7.5 percent. This interest rate is also better than most bank FDs. The special thing is that the post office is an institution associated with the government, so there is no danger of drowning money in it. Many times experts also recommend that some parts in their investment must be put in such safe options where the benefit is less, but there is no loss.
Facility to open account with family
In this scheme, a joint account can be opened alone or with a family member. If there is a child in the house whose age is more than 10 years, then this account can also be opened in his name. With this, a good fund can be prepared for the future in his name.
Tax exemption in 5 years, rules strict on early withdrawal
If you invest in this scheme for a full five years, then you also get the benefit of tax exemption. However, there are some rules to withdraw money from this scheme which is necessary to know. Money cannot be withdrawn before six months. If you close the account after six months and before a year, then only the interest equal to the savings account will be available. And if you close the account with two, three or five years old after one year, then the interest that is fixed will get two percent less. Therefore, this scheme is more beneficial for those who can wait for the whole time.
Interest of about thirty thousand will be available on two lakhs
Suppose you deposited two lakh rupees in the post office time deposit scheme for five years. So you will get a total of ₹ 29,776 interest according to the fixed interest rate. That is, after five years, you will have a total of ₹ 2,29,776 in your hand. It is clear that this scheme is very useful for those who want to add a lot of money without risk.