Post office
In today's time, people have become more aware of saving a part of their earnings and investing, but many times it becomes difficult to decide where to invest, where money is safe and good returns are also received. Post office saving schemes come up as a reliable option amidst the fluctuations of the stock market and the declining interest rates of banks.
These post office schemes are supported by the central government, so investment in them is completely safe. Also, market conditions have no effect on these and interest rates remain comparatively stable. Let's know about some major schemes that can turn your savings into better returns.
Senior civil savings scheme (scss)
This scheme is especially for people aged 60 or older. This scheme is considered ideal for regular income and security of capital after retirement. It gets an annual interest of up to 7.4% annually and tax exemption is also available under Section 80C of Income Tax.
National Saving Certificate (NSC)
If you are looking for low risk and tax savings investment, NSC is a great option. This scheme is five years and currently gets 7.7% annual interest. The amount invested gives tax exemption under 80C, and the amount received on maturity is guaranteed.
Sukanya Samriddhi Yojana (SSY)
This scheme is the best way to prepare provident funds for daughters' education and marriage. It gets a high interest rate of 8.2% and there is also a tax exemption on investing in it. This scheme can be opened for daughters under 10 years of age.
Post Office Time Deposit Scheme
This scheme is similar to bank FD but the interest rate is higher. 6.9% interest on one year deposit and 7.5% interest on five years deposits. If you want safe and sure returns by staying away from risk, then post office savings plans can prove to be the best option for you. These schemes not only provide economic security, but also laid the foundation of a stable future.
Source: www.tv9hindi.com
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