Check out these 5 Post Office Schemes for guaranteed returns!
Post Office Schemes: People often struggle with where to invest their money so it's both safe and yields good interest. If you're worried about this, we're here to help. Today, we're going to tell you about some Post Office savings schemes that keep your money safe and offer good savings and excellent returns. This is why many people prefer investing in Post Office schemes over riskier schemes like the stock market or mutual funds.
Post Office Schemes: Many people are worried about where to invest their earnings so that they're both safe and generate good returns. If you're thinking something similar, Post Office savings schemes could be a good option for you. These schemes ensure your money is completely safe and offer guaranteed returns. This is why many people still prefer investing in post offices rather than riskier avenues like the stock market or mutual funds.
So, if you also want to invest your money in a safe place, today we're going to tell you about the top 5 savings schemes at the post office.
Kisan Vikas Patra (KVP)
Kisan Vikas Patra (KVP) is a certificate scheme launched by the Government of India on April 1, 1988. Investing in this scheme can double your money in approximately 9 years and 7 months. Any adult can purchase this certificate for themselves, on behalf of a minor, or for a minor. It can also be purchased jointly by two adults. Investments under this scheme earn a 7.5% annual interest. The investment amount can double in approximately 115 months (9 years and 7 months), and there is no maximum deposit limit. KVP accounts can be opened at post offices and authorized banks. They can also be transferred to another individual or to another post office. After 2.5 years of investment, it can be withdrawn at a fixed rate.
Public Provident Fund Account (PPF)
PPF is a long-term savings scheme of the Government of India. It is completely safe and tax-free. This scheme offers an annual interest rate of 7.1%. You can invest a maximum of ₹15 lakh annually. Note that if you fail to deposit at least ₹500 in a year, the account will be closed, but it can be revived by paying a penalty. Additionally, you also have the facility to take out a loan with your PPF account.
National Savings Recurring Deposit Account (RD)
This scheme helps small and poor investors save for their future needs. This account can be opened by an adult or two adults together. You get a fixed return of 6.7%, and you can start with just ₹100 per month.
National Savings Certificate (NSC)
The National Savings Certificate (NSC) is a savings scheme of the Government of India, available through post offices. This scheme offers Indian citizens a safe and fixed-return option to grow small savings. It has a lock-in period of 5 years, and the interest earned is also tax-deductible under Section 80C.
Sukanya Samriddhi Account (SSA)
The Sukanya Samriddhi Yojana (SSA) is specifically designed for the future of girls. This scheme offers an annual interest rate of 8.2%, which is added to your account every year. This scheme is beneficial for parents in the long run. You can open an account with just ₹250 and invest up to ₹15 lakh annually.
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