Public Provident Fund to Sukanya Samriddhi Yojana: Safe money schemes will help you with bumper returns and investment
By Lokmat English Desk | Published: August 1, 2023 04:54 PM2023-08-01T16:54:24+5:302023-08-01T16:54:24+5:30
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Post Office Saving Scheme: Most of the people look for investment options where their money will be safe and also get returns.
All post office schemes are run by the Government of India and the interest rate is also determined by the government. This is why people consider it safest to invest in post office schemes. In these post office schemes, you can get benefits under 80C on investments up to Rs 1.50 lakh
National Savings Certificate (NSC) – You can invest a minimum of Rs 1 thousand and in multiples of Rs 100 thereafter in the National Savings Certificate scheme. There is no upper limit. The maturity of this scheme is 5 years. It earns interest at the rate of 7.1 percent.
Senior Citizen Savings Scheme (SCSS) – If you are aged 60 or above, you can open a Senior Citizen Savings Account at a post office. It earns 8.2 percent interest per annum. It has a maturity period of 5 years. In this you have a maximum of Rs. 15 lakhs.
Sukanya Samriddhi Yojana (SSY) – You can avail Sukanya Samriddhi Yojana scheme by opening an account in the name of a girl child below 10 years of age. After the girl turns 18, she becomes the owner of this account. The current interest rate on Sukanya Samriddhi Account is 8 percent.
Post Office Time Deposit – You can also invest in Post Office Time Deposit. In this you can invest up to a maximum of Rs 1.50 lakh. Tax exemption under 80C is available on 5 years deposit. You will get 7.50% interest on 5 years deposit.
Public Provident Fund (PPF) – Public Provident Fund (PPF) account is a long term scheme. The maturity period in PPF is 15 years. This is an exemption under 80C. In this you can invest up to a maximum of Rs 1.50 lakh in a financial year.
