Money: Invest money in 5 post office savings plans, money will double in less time | Post Office Saving Schemes kisan vikas patra nsc sukanya samridhi yojana ppf know all details about scheme

Money: Invest money in 5 post office savings plans, money will double in less time | Post Office Saving Schemes kisan vikas patra nsc sukanya samridhi yojana ppf know all details about scheme

Interest rates have been maintained for the period from July 1 to September 30. The old interest rates will apply to small savings deposits during this period. It also includes some post office plans.

Money: Invest money in 5 post office savings plans, money will double in a short period of time

Post Office

New Delhi: The central government has announced interest rates for the second quarter of the 2021-22 financial year. Interest rates have been maintained for the period July 1 to September 30. The old interest rates will apply to small savings deposits during this period. It also includes some post office plans. You can double your money by depositing money in these Post plans. Investing in these post office schemes pays off well. This has led to an increase in the number of people investing in post offices. A review of some of the post office’s plans. (Post Office Saving Schemes kisan vikas patra nsc sukanya samridhi yojana ppf know all details about scheme)

Kisan Vikas Patra

Kisan Vikas Patra is a short saving scheme. The scheme was launched by Indian Post in 1988. The plan was to get people to invest in it for a long time. The scheme requires a minimum investment of Rs. There is no maximum limit for this scheme. The government had made PAN card mandatory under the scheme in 2014. However, if you invest more than Rs 50,000, PAN card is mandatory. If you invest more than Rs 10 lakh, proof of income, salary slip, bank statement or income tax return has to be attached. At present, if you invest in this scheme, your money doubles in 124 months i.e. 10 years and 4 months. It currently earns 6.9 per cent interest, while income tax is exempted from 80C.

National Savings Certificate

The term of National Savings Certificate Scheme is 5 years. Most importantly, you can withdraw your money even after a maturity period of 1 year by following certain terms and conditions. The government sets the interest rate on the National Savings Certificate at the beginning of each quarter of the financial year. This plan is so special that you can start investing in it for just Rs. Under this scheme, 6.8 per cent interest is paid every year. What is special about this scheme is that under section 80C of income tax, you can also get a tax deduction of Rs 1.5 lakh per annum. National Savings Certificates Investment options of Rs.100, Rs.500, Rs.1000, Rs.5000 and Rs.10,000 are available. There is no limit to the maximum investment. In this scheme, you have to pay initially. If you initially invest Rs 15 lakh, you will get 6.8 per cent interest. That means after 5 years you will get Rs 20.85 lakh which is Rs 21 lakh.

Sukanya Samriddhi Yojana

Many schemes are implemented by post office or bank. In which you can get a good return by investing. One of these schemes is Sukanya Samrudhi Yojana. You can buy this plan from the post office. (Sukanya Samriddhi Yojana All details) In this plan you get 7.60% interest. The special thing is that you can invest a minimum of Rs 250 in this scheme. This is one of the low cost plans. If you invest Rs 1.50 lakh in this scheme for 15 years, you will get Rs 66 lakh after 21 years. This plan is especially for girls. Only one account can be opened in the name of the girl. It also gives you tax deduction under 80C. Considering all these benefits, it is advisable to invest in it.

Public Provident Fund Account

Anyone can invest in PPF. But in such a situation, if your daughter is young, the question arises as to where to invest for her future. At present, PPF earns 7.1 per cent interest. You can deposit a minimum of Rs 500 and a maximum of Rs 1.5 lakh in a financial year. Her parents can open this account in the name of the minor girl. This account matures in 15 years. After that it can be extended up to 5 years. This means that your daughter is now 5 years old and if you open a PPF account in her name. If you deposit Rs 1 lakh every year, after 15 years, the amount will be Rs 27.12 lakh at the current interest rate (7.1 per cent). This means that the amount you have accumulated in 15 years will be Rs. 15 lakhs. But when your daughter is 21 years old, 27 lakh 12 thousand 139 will be credited to her account.

Senior Citizen Saving Scheme

The Senior Citizen Saving Scheme is planned for a period of five years. You can invest in it by opening any number of accounts. However, there is a limit of Rs 15 lakh for total investment under SCSS scheme. The central government fixes the interest rate of the scheme every quarter. In the current April-June quarter, the interest rate on the SCSS scheme is 7.4 per cent. Once you invest in this plan, you get interest for five years. However, this income is taxable.

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Post Office Saving Schemes kisan vikas patra nsc sukanya samridhi yojana ppf know all details about scheme

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