Although there are many investment plans today, there is always room for postal savings plans. It is seen as a very safe project, despite its low profitability.
It is also seen as an investment plan that has nothing to do with investment above all else. This is why these projects are always well received among the people. In that way we are going to see how much investment in postal projects will double in a number of years.
Post Office Time Deposit
Post Office Time Deposits earn up to 6.7% interest. It is seen as a very safe investment and savings. This plan has a time deposit of 1, 2, 3, 5 years. There is a tax deduction under Section 80C when investing in a 5 year deposit scheme.
This is a minimum deposit of Rs. There is no maximum limit. Up to 1.5 lakh rupees is tax deductible. Your investment doubles after 10.75 years when you invest in this plan
Postal Savings Account A postal savings account is like a bank savings account. We can get most of the services in the bank account in this mail account as well. You can also get services like online banking and mobile banking in particular. 4% interest is paid on the amount saved through this account. This account doubles your amount in 18 years
Postal Series Deposit Fund The interest rate for a continuous deposit fund plan in the mail is 5.8%. When you invest in this plan your investment doubles in 12.41 years. This is higher compared to other banks.
Post Office Monthly Income Plan This month's monthly income plan offered at the post office, currently offers an interest rate of 6.6%. Your investment in this plan will double in 10.91 years. The interest rate on this plan also varies once a quarter
Senior Citizens Savings Plan
The Savings Plan for Senior Citizens (SCSS) is one of the major savings plans in the post office. Great savings plan for 60 year olds and over. This savings plan stipulates that the account must be opened within one month of receiving the pension benefits.
A person must be 55 or 60 years of age or older to join this savings plan. Retired security guards over the age of 50 are also eligible for the internet in this savings plan.
A minimum investment of Rs.1000 is required in this scheme. The maximum may be up to 15 lakh rupees. However the amount received on retirement should not be more than Rs.
The maturity of this SCSS scheme is 5 years. However the scheme can be extended for another three years. This savings plan for senior citizens also includes tax breaks. It can claim tax exemption up to Rs 1.5 lakh under section 80C. The interest rate on this SCSS scheme is currently 7.4%. This project
The interest rate on this SCSS scheme is currently 7.4%. Your investment in this plan will double in 9.73 years.
Public Provident Fund (PPF)
General Provident Fund Scheme is a boon for those who want to invest for long term purposes and also for retirement. Because it is a great investment that has no stake in the investment.
The project is a 15-year project. The scheme has tax exemption under 80C. The government adjusts the interest rate every quarter according to market conditions. The scheme offers a minimum of Rs 500 and a maximum of Rs 1.5 lakh. The current interest rate on this plan is 7.1%. In 10.14 years your investment will double.
National Savings Certificate
The National Savings Certificate (NSC) is a government scheme available at all post offices in the country. This is one of the small savings plans that can give you a steady income.
All Indian Citizens (Resident Individual) are eligible to invest in this scheme. The minimum investment is 100 rupees and there is no limit to the maximum investment. A person who invests in the National Savings Bond Scheme can also avail the tax deduction under Section 80C of the Income Tax Act. The plan currently pays 6.8% interest. Your investment in this program will double in 10.59 years.
Sukanya Samriti Yojana
The Sukanya Samriti Yojana for Girls was developed with the aim of protecting the future of girls and encouraging parents. Created for minor children above all else. At any time from the birth of a child to the age of 10, this Sukanya Samridhi Yojana can be started. The maturity period of this scheme is 21 years.
Deposits made under the Sukanya Samridhi scheme are tax deductible up to a maximum of Rs. 1.5 lakhs as per Section 80C of the Income Tax Act. So there is a tax deduction in addition to savings. The plan currently offers 7.6% interest. The amount you invest in this plan will double in 9.6 months.
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