Looking for a risk-free investment opportunity? Consider the Post Office schemes for guaranteed returns and excellent interest rates.
These schemes provide a secure investment environment, shielding your money from market risks.
What’s more, some of these schemes also offer tax deductions.
Let’s explore the post office schemes that provide tax benefits.
1) Sukanya Samriddhi Yojana (SSY): Designed exclusively for daughters, this scheme allows you to open an account for girls below 10 years of age.
Currently, the scheme offers an attractive interest rate of 7.6 percent per annum.
You can invest a minimum of Rs 250 and a maximum of Rs 1.50 lakh in a financial year. Enjoy tax benefits under section 80C of the Income Tax Act.
2) Post Office Time Deposit: Looking to save wisely? The Post Office Time Deposit (Post Office TD) scheme is an excellent choice.
You can invest up to Rs 1.50 lakh in this scheme, which provides a competitive interest rate of 7% per annum.
Benefit from tax deductions under section 80C of the Income Tax Act.
3) Post Office Senior Citizens Savings Scheme: Among the highest interest-paying schemes, the Senior Citizens Savings Scheme (SCSS) is a top pick.
This scheme offers an impressive annual interest rate of 8.2 percent. Enjoy tax benefits under section 80C of the Income Tax Act.
4) National Savings Certificate: Start your investment journey with just Rs 1,000 in the National Savings Certificate (NSC) scheme.
You can invest in multiples of Rs 100, without any fixed investment limit. The scheme has a maturity period of 5 years, with an attractive interest rate of 7% per annum.
Avail of tax benefits under Section 80C of the Income Tax Act.
5) Public Provident Fund (PPF): Looking for a long-term investment option? The Public Provident Fund (PPF) scheme allows a maximum investment of up to Rs 1.50 lakh per financial year.
The scheme has a maturity period of 15 years, with a provision for extension.
Currently, the PPF scheme offers an interest rate of 7.1 percent per annum.
Consider the post office schemes as secure investment avenues with promising returns.
Take advantage of tax benefits while securing your financial future.
