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Tuesday, January 25, 2022

Best Post Office Schemes: These schemes pay more interest than the big banks of the country, so take advantage

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In the post office, many such schemes are run where interest is also available and there is also the benefit of income tax exemption on them.

Post Office best scheme

Everyone would like that the money they accumulated from hard earned money can get more interest on that money and also the security of money. Therefore, especially people make fixed deposits of money in banks so that interest will also be available and the money will also be safe. But there are some such schemes of the post office on behalf of the Government of India where you get more interest from banks as well as your money is also safe. Apart from this, there is also the option of tax exemption. So let’s know which are these schemes and what are the benefits of them

In the post office, many such schemes are run where interest is also available and there is also the benefit of tax exemption on them. But the Post Office Time Deposit Scheme of the Post Office, National Saving Certificate and PPF i.e. Public Provident Fund are special schemes where you get double benefit,

Post office time deposit Talking of high interest, 6.8 6.8 percent is available on post office time deposits, while banks have only 5.5 percent interest on this scheme. By investing this scheme for 5 years, you can earn a hefty profit compared to the banks. In fact, the interest of 1.3 per cent is not much to say in comparison to banks, but when you add a hefty amount according to 5 years, then you will know how beneficial this scheme is.

Public Provident Fund (PPF) ) – Talking about Public Provident Fund, this scheme also opens from bank account. But when it comes to the post office, it gets an interest of about 7.1 per cent, which is more than the post office time deposit. But before opening PPF, one thing must be kept in mind that there is a lock-in period of at least 15 years and before that you withdraw money, then you have to pay a penalty.

National Savings Certificate (NSC) – National Savings Certificate means 6.8% interest on NSC. The lock in period of this scheme is of 5 years. That is, you have to invest for at least 5 years. At the same time, tax has to be paid on the money earned from it. You can start it from Rs 100 only, while there is no limit to the upper limit.

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Bhagyashree Soni
Bhagyashree Soni is a software engineer with soft writing skills. She is a degree holder from the International School of Entrepreneurial Leadership. She has been a state-level badminton champion and chess player. A woman with a forthright attitude enjoys her writing passion as her chosen career. Writing in the context of feminism, social-cause and entreprenurship is her forte.
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