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Post Office Schemes: Post office savings schemes are a better option for investment. By investing in these, you can fulfill important financial goals of life.

post office: If you are thinking of investing and want to get benefits of income tax exemption along with better returns, then Post Office Saving Scheme is a better option for you. By investing in these, you can fulfill important financial goals of life. Today we will tell you which post office savings schemes are giving the highest interest.

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Sukanya Samriddhi Yojana

  • This scheme was started under the ‘Beti Bachao Beti Padhao’ campaign.
  • Under this scheme, a parent or legal guardian can open an account in the name of the girl child.
  • The age of the girl child should be less than 10 years to open the account.
  • Under this, only one account can be opened in the name of each girl child.
  • In this scheme of a post office, the highest interest is getting 7.60 percent.
  • In this, tax exemption is available under 80C.

National Savings Certificate (NSC)

  • Investment in NSC is getting 6.8% interest per annum.
  • The interest is calculated on an annual basis, but the interest amount is paid only after the investment period.
  • A minimum investment of Rs 1000 has to be made in this scheme. There is no maximum investment limit.
  • NSC account can be opened in the name of minor and a joint account can be opened in the name of 3 adults.
  • Minors above the age of 10 years can also open the account under the supervision of their parents.
  • By investing, you can save tax on an amount up to Rs 1.5 lakh under Section 80C of the Income Tax Act.

public provident Fund

PPF Account
Image credit: ABP News
  • At present, 10 percent interest is being given on the amount deposited in Post Office Public Provident Fund accounts.
  • This plan comes with EEE status. In this, tax benefits are available at three places. Contribution, interest income and maturity amount, the three are tax free.
  • The benefit of tax exemption is available under section 80C of the Income Tax Act.
  • PPF account can be opened with only Rs 500. But later every year it is necessary to deposit Rs 500 at a time.
  • Only a maximum of Rs 5 lakh can be deposited in this account every year.
  • This plan is for 15 years, from which it cannot be withdrawn midway. But it can be extended for 5-5 years after 15 years.

Kisan Vikas Patra

  • Kisan Vikas Patra Yojana is a one-time investment scheme of the Government of India.
  • In this, your money gets doubled in a given period.
  • At present, 6.90 percent interest is being given in this scheme.
  • Government guarantee is available on post office schemes, so there is no risk in it.
  • There is no tax exemption under section 80C.

Senior Citizen Savings Scheme-SCSS

  • In this scheme, interest is available at the rate of 7.4 percent.
  • Age should be 60 years to open an account in this.
  • The minimum investment is Rs 1000 and the maximum is Rs 15 lakh.
  • Deposit matures after 5 years from the date of account opening, but this period can be extended only once for 3 years.
  • Being backed by the government, the returns on it are guaranteed.
  • In this, tax exemption is available under 80C.

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