Post Office Savings Schemes: Post offices are one of the oldest institutions in India. Apart from offering postal related facilities, post offices also offer various types of financial schemes. You can earn a lot of money by investing in these schemes. Today we are going to tell you about such schemes of post office in which you get more than 7% annual return on investing.
Post Office Investment: Post offices are one of the oldest institutions in India. Since the time of British rule, post offices have been providing postal services in India. Many people do not know that post offices offer special financial schemes along with postal services. You can earn a lot of money by investing in post office schemes. Today we are going to tell you about such schemes of post office in which you can earn a lot of money by investing.
Post Office Time Deposit
By opening a time deposit account in the post office, you can give your money the government’s guarantee of safety and get good returns in return. The account gives an annual return of 6.9% on completion of one year, 7% on completion of two years, 7.1% on completion of three years and 7.5% on completion of 5 years. You can start investing in this scheme with just Rs 1000 and by investing in this scheme for 5 years, you can also get tax benefits. To open an account, the age should be more than 10 years and the person must have Indian citizenship.
POMIS (Post Office Monthly Investment Scheme)
By investing in the Post Office Monthly Investment Scheme, you can get a fixed amount every month. Investing in this scheme will give an annual interest of 7.4% and you can start investing with just Rs 1000. The maximum limit for a single account to invest in this scheme is Rs 9 lakh and the maximum limit for a joint account is Rs 15 lakh.
Senior Citizen Savings Scheme (SCSS)
If you are above 60 years of age, you can invest in this scheme and get an interest of 8.2% per annum. You can start investing in this scheme with Rs 1000 and the maximum limit of investment in the scheme is Rs 30 lakh. You can also get tax benefits under Section 80C of the Income Tax Act 1961.
PPF Account
If you invest in this account with a tenure of 15 years, you get an annual return of 7.1%. Any adult or minor Indian citizen can invest in this scheme. In a year, you can deposit up to Rs 1.5 lakh in this scheme and you can start investing with Rs 500. Tax benefits are also available on deposits up to Rs 1.5 lakh.
National Savings Certificate (NSC)
By investing in this scheme, you can get an annual return of 7.7%. You can start investing in this scheme with just Rs 1000 and there is no maximum limit to invest in the scheme. Any Indian citizen, adult or minor, can invest in this scheme.
