Post Office Best Schemes: If you are looking for a safe investment, then you can invest in these schemes of the post office, where along with the investment being safe, you will also get huge interest on it.
There are countless schemes available in the market for saving money. But before investing money anywhere, a question comes to mind that how safe will the money be here. In such a situation, most people would choose a place where their money would not be lost. Like post office, where by investing, you will not only get more interest on the deposited amount, but the money will also be absolutely safe.
Kisan Vikas Patra (KVP)
By investing in this scheme, you will get an annual interest of 7.5%. But if you leave the money for 9 years and 7 months, the deposited amount will double. There are some conditions of investment in this. Like, less than Rs 1000 cannot be deposited under this scheme. However, there is no fixed limit on the maximum amount. It can be broken even before maturity.
National Savings Time Deposit Account
Under this scheme, money can be invested for one year (6.9%), two years (7%), three years (7.1%) and five years (7.5%). In this also the minimum limit is Rs 1000, there is no maximum limit. Also, after the expiry of the time limit, the deposited amount will have to be deposited again. It cannot be broken before 6 months, and if you withdraw money from this scheme before one year, you will get the same interest as you get on the savings account.
Senior Citizen Savings (SCSS)
This scheme is for senior citizens, in which the interest is 8.2% per annum. But this interest will be available only after completion of five years. If this account is closed before one year then interest will not be given. To invest in this scheme, the age should be at least 60 years, also you can deposit minimum Rs 1000 and maximum Rs 30 lakh in this scheme.
National Savings Certificate
In this scheme, the money will mature in five years, in which interest of 7.7% will be available annually, but this interest will be available only with maturity. It starts from Rs 1000, there is no limit on the maximum amount.
Public Provident Fund (PPF)
Any Indian person of 18 years or above can invest in this. People below 18 years of age will have to open this account with their guardian. The interest rate in this is 7.1% (Compounded Annually) and will mature in 15 years.
In this, you can deposit minimum Rs 500 and maximum Rs 1.50 lakh in a financial year. Loan can also be taken from this account after a period of one year.
