Post Office Scheme: In midst of the Corona crisis, everyone wants to invest their money in a secured place which can offer guaranteed good interest as well as security. Post Office is the best for you at present which offers many special schemes for customers with good interest.
The specialty of the Post Office Scheme is that it has different plans for children and senior citizens. The biggest feature of these schemes is that some of these schemes will benefitted you from tax exemption under Section 80C.
Beneficial and Profitable Post Office schemes.
Post Office National Saving Certificate
This Post Office Investment Scheme is very popular. Currently, the investment in the Post Office National Saving Certificate is 6.8% per annum. It calculates interest on an annual basis. Deposits in the National Saving Certificate are tax-exempt under Section 80C of the Income Tax Act. Here, you can invest in this plan for 5 years.
Post Office Fixed Deposit (FD)
In a post office fixed deposit, you can invest a lump sum for a fixed period. There is a facility to invest in post office time deposit for one to five years. Here, you take advantage of fixed returns and interest payments. Fixed deposit accounts can be opened for four maturity periods - one year, two years, three years and five years. In this scheme you can avail tax exemption under Section 80C of Income Tax Act, 1961.
National pension system
National pension system is a retirement plan. It was started by the central government. Under Section 80C of the Income Tax Act, anyone can get exemption up to Rs 1.5 lakh. There is a facility to invest in 6 different funds. There is no upper limit for investment. You can also invest 500 rupees in this National Pension System. Under this National Pension System, an employee gets a lump sum at the time of retirement.
Sukanya Samriddhi Yojana
Sukanya Samriddhi Yojana is the best option to secure the future of your daughters. In Sukanya Samriddhi Yojana, you are currently getting 7.6 percent returns. It also gives the benefit of tax deduction on investments up to Rs 1.5 under Section 80C of the Income Tax Act.
Kisan Vikas Patra
It is a good option for small scale investment. 6.9 percent interest is now being given on this Kisan Vikas Patra! Let me tell you that there will be better returns in this but there is no tax exemption on this. With this, the first used to mature in 113 months, which has now been changed to 124 months. Minimum Rs 1000 can be deposited in Kisan Vikas Patra. Also, there is no limit to maximum investment.
PPF
Investing in the Post Office PPF Scheme is considered the safest! PPF is a 15-year long-term investment Post Office PPF Scheme, which currently offers 7.1 percent compound annual interest. There is no minimum or maximum age limit to join this scheme. You can also start investing in PPF (Public Provident Fund) from Rs 500. An annual amount of up to Rs 1.5 lakh can be invested in it.Under this scheme, investment in PPF (Public Provident Fund) and interest thereon is tax free under Section 80C of the Income Tax Act.
Senior Citizen Savings Scheme
This scheme provides special facility to Senior Citizen. Under this scheme, the interest rate is 7.4 percent. This scheme was launched to benefit people 60 or older. Investments are made for five years under this Senior Citizen Savings Yojana! In this, you can deposit a minimum of one thousand rupees and invest a maximum of 15 lakh rupees.Tax is exempt on investment under the Senior Citizen Savings Scheme.
