Post office
If you want to invest your money safe place and also want to get good returns, then post office savings plans can prove to be the most reliable option for you. These schemes not only protect your investment but also give attractive interest from 7.5% to 8.2%. Also, tax exemption on these schemes is also available, which can further increase your savings. Let’s know about the six major savings schemes of the post office, which you can benefit from.
1. Post Office Fixed Deposit (FD)
In the FD scheme of the post office, you can invest money for 1, 2, 3 or 5 years. The special thing is that you get interest up to 7.5% on 5 -year FD. Also, tax exemption is also available under Section 80C of Income Tax on investing in this scheme. This is the best option for those who want to protect their investment and want certain returns.
2. Women’s Honor Savings Certificate
This scheme is specially designed for women. It can be invested for a period of 2 years and the interest rate is 7.5%. The investment limit ranges from Rs 1,000 to Rs 2 lakh. Note that this scheme is available only till 31 March 2025. This is a golden opportunity for women to increase their savings.
3. National Savings Certificate (NSC)
If you want to invest for 5 years then NSC will be suitable for you. There is an interest of 7.7% on this scheme, which is an annual compound. Meaning, interest on your money increases every year. Also, investing in this scheme also provides tax exemption, which makes it even more beneficial.
4. Senior Citizen Savings Scheme (SCSS)
If people aged 60 years or older want safe investment and better returns, then this scheme is best for them. SCSS can be invested for 5 years and the interest rate is up to 8.2%. You can invest up to a maximum of 30 lakh rupees in it. The big advantage of this scheme is that interest gets every quarter, due to which your income remains regular.
5. Sukanya Samriddhi Yojana (SSY)
This scheme is a better option to secure the future of daughters. SSY can be invested from Rs 250 to Rs 1.5 lakh annually. It gets 8.2% interest. The duration of the plan is 15 years, and it is matured in 21 years. This scheme can become a strong economic basis for daughter’s education and marriage.
6. Kisan Vikas Patra (KVP)
If you want your investment double, then the Kisan Vikas Patra Yojana is right for you. In this, your deposits doubled in 115 months (about 9.5 years). This scheme gets an interest of 7.5% and the minimum investment starts from Rs 1,000. This scheme is good for those who want to invest for long periods.