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- Fixed Deposit Invest; Latest Post Office Saving Schemes With Good Returns 2021
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If you want a higher return on fixed investment (FD) on your investment, then you can invest in post office schemes. You can get more interest by investing in Post Office Kisan Vikas Patra, National Saving Certificate, Time Deposit Scheme and Monthly Income Scheme.
At present, 6.9% interest is being received in the Kisan Vikas Patra Scheme, which is more than FD. The country’s largest bank SBI is currently paying a maximum of 5.4% interest on FD. The best thing about these schemes is that your money is completely safe in it.
Kisan Vikas Patra (KVP)
- Currently, 6.9% interest is being received in the Kisan Vikas Patra (KVP) savings scheme.
- There is no maximum limit to invest in KVP. However, your minimum investment should be 1000 rupees.
- The investor’s age must be at least 18 years. It has the facility of a joint account in addition to a single account.
- Minors may also be included in the scheme, but it will have to be handled by their parents.
- If you want to withdraw your investment, you will have to wait for at least 2.5 years. It has a lock in period of two and a half years.
- Under this, the amount deposited is exempted from tax under Section 80C of the Income Tax Act. For more information, click here
National Saving Certificate (NSC)
- 6.8% annual interest on investment in Post Office National Saving Certificate (NSC).
- In this, the interest is calculated on an annual basis, but the amount of interest is given only after the period of investment.
- To open an NSC account, you have to invest a minimum of 1000 rupees.
- This account can also be opened in the name of a minor and in the name of 3 adults.
- An account can also be opened under the supervision of a guardian in the name of a minor over 10 years of age.
- Under this, under Section 80C of the Income Tax Act, you can save tax on the amount up to Rs 1.5 lakh.
- You can invest any amount in NSC. There is no maximum investment limit. For more information, click here
Time deposit scheme
- It is a kind of fixed deposit (FD). You can take advantage of fixed returns and interest payments by investing lump sum money for a fixed period in it.
- The post office time deposit account offers an interest rate of 5.5 to 6.7% for a period ranging from 1 to 5 years.
- According to the official website of India Post, one can avail tax exemption under Section 80C of the Income Tax Act, 1961 for investing under a fixed deposit of 5 years.
- It has to invest a minimum of 1000 rupees. At the same time, there is no limit for maximum investment.
- A person whose age is more than 18 years can invest in the scheme. In this, a joint account can also be opened.
- Under this, under Section 80C of the Income Tax Act, you can save tax on the amount up to Rs 1.5 lakh. For more information, click here
Monthly income scheme
- It is being reduced to 6.6%. Under this scheme, accounts can be opened with a minimum of 1000 rupees.
- The special thing is that after the completion of the scheme you will get your full money back as well. This means that regular income guarantee can be ensured for you from this account.
- If your account is single, you can deposit up to Rs 4.5 lakh. On the other hand, if you have a joint account, a maximum of 9 lakh rupees can be deposited in it. Maturity period is 5 years.
- If you invest 4.5 lakh rupees under this scheme, then you will get interest of Rs 29700 per annum at 6.6% per annum.
- At the same time, if you invest 9 lakhs under a joint account, then you will get 59,400 years of interest. For more information, click here
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