Many folks in the country want to invest without taking too much risk. In such cases, government-supported investment plans are a safe option.
These schemes provide assured returns and minimize the level of risk involved.
The Indian Post Office offers various government schemes across the country, providing an annual interest of up to 8.2 percent.
Investing in these schemes involves low risk, offers high interest rates, and ensures guaranteed returns, making it easier for anyone to invest.
Today, we’ll share information about a special program offered by the post office that can provide you with additional advantages through investment.
The Post Office manages 10 schemes in the country known as Small Savings Schemes.
Let’s explore these schemes individually. The interest rates for all the mentioned schemes are above 7 percent.
Senior Citizen Saving Scheme (SCSS)
This particular scheme from the post office is quite advantageous because it offers the highest interest rate among all the post office schemes.
Currently, the government provides an annual interest rate of 8.2 percent on this scheme.
To enjoy the advantages of this plan, you should be over 60 years old.
Additionally, individuals who are retired and are between 55 and 60 years old can also participate in this program.
However, it’s important for these individuals to invest in this scheme within one month of receiving their retirement benefits.
You can put in at least Rs 1000 and up to Rs 30 lakh in this plan. The account becomes complete after 5 years.
However, you can prolong it for an additional 3 years as many times as you want.
Sukanya Samridhi Yojana
If you cannot benefit from the senior citizen scheme, you can consider investing in the Sukanya Samriddhi Yojana.
Currently, the government provides an 8 percent interest rate on this scheme, which is the highest after the Senior Citizen Scheme.
But, you can put money in this plan only if you have a daughter.
You can invest in this plan only under the name of your daughters, and that too if your daughter is under 10 years old. This account can be opened for a maximum of two girls in a family.
You need to put at least Rs 250 in this plan every year, but you can invest a maximum of Rs 1.5 lakh.
The account becomes complete after 21 years from the day you open it. You can take out money when the girl reaches 18 years or finishes 10th grade.
National Savings Certificate
In this plan, the government provides an annual interest of 7.7 percent. The smallest sum you can put in this plan is Rs 1000, and there is no maximum limit.
Any grown-up can invest in this plan. This account matures after five years.
Additionally, you can make a good profit by investing in Kisan Vikas Patra (with a 7.5 percent interest rate), Mahila Samman Saving Certificate (7.5 percent interest), and Public Provident Fund (7.1 percent interest).
