Several Schemes from Post Office gives Interest rate more than a regular Bank Fixed Deposit Schemes.
Just because we are unaware with such schemes, we do not take it’s advantage. Below are some of the best schemes listed with their benefits.
Post Office RD Scheme
The Post Office R D scheme is an excellent option for individuals seeking both savings and investments.
It offers various advantages, including government security, higher interest rates, and tax deductions on deposited amounts.
In this scheme, investors can enjoy a 7% interest rate for a three-year investment period, while a five-year investment period provides a 7.5% interest rate.
Additionally, this scheme offers tax benefits under Section 80-C of the Income Tax Act.
Post Office Monthly Income Scheme
The Post Office MIS scheme ensures regular monthly income for investors. Any adult Indian can open an account with a minimum deposit of Rs 1000.
and a maximum deposit of Rs 9 lakh. Account holders receive an attractive interest rate of 7.4% per annum.
Post Office PPF Scheme
The Post Office PPF scheme allows any Indian citizen to open an account with a minimum deposit of Rs 500 and a maximum of Rs 1,50,000.
This scheme offers tax benefits under section 80-C of the Income Tax Act. Account holders can earn a compound interest rate of 7.1% per annum.
National Savings Certificate Scheme
The National Savings Certificate scheme allows investments starting from Rs 1000. Similar to other post office schemes.
it also provides tax deductions under Section 80-C of the Income Tax Act. Investors can enjoy an attractive interest rate of 7.7% per annum.
Kisan Vikas Patra Scheme
The Kisan Vikas Patra scheme is designed with farmers in mind, but it is open to anyone interested. The unique feature of this scheme is the doubling of the investment amount over time.
Account holders can benefit from a 7.5% interest rate per annum.
Mahila Samman Savings Letter Scheme
Announced by Finance Minister Nirmala Sitharaman in the Budget 2023 speech, the Mahila Samman Savings Letter scheme is exclusively for women.
It offers a 7.5% interest rate per annum and is valid until 2025, providing women with an excellent savings opportunity.
