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Post Office: Good returns on all schemes of post office, can benefit like this


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Post Office Small Saving Scheme: Small savings can come in handy during crisis. In such a situation, making small savings in post office can prove to be a profitable deal. Explain that your money is 100 percent safe in the Post Office Scheme. Therefore you can invest without risk. The best thing is that in these schemes you are getting more interest than the bank. Many schemes such as Post Office Public Provident Fund (POPPF), Post Office Senior Citizen Scheme (POSCS), Sukanya Samriddhi Yojana (SSY), Post Office Recording Deposit (Post Office RD) can be started with very little money.

Know the interest rates of post office savings schemes
Explain that 4 percent interest is being received in the post office savings account. At the same time, interest is being paid at the rate of 5.8 in the post office recording deposit. 6.6% interest is being given on the post office monthly income scheme at this time. Interest is being given to 5.5% on 1 year time deposit of post office, 5.5% on 2 year time deposit of post office, 5.5% on 3 year time deposit. At the same time, 6.7 percent interest is being earned on the 5-year time deposit of the office.

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Post Office Recurring Deposit Scheme
The recurring deposit scheme of the post office provides good returns on the amount deposited in small installments. Post office recurring deposit accounts can be opened for five years. Currently, the scheme is getting 5.8 percent interest.

Post Office Public Provident Fund (PPF)
The post office public provident fund gets interest at the rate of 7.9 per cent annually. Individuals can invest a minimum of Rs 500 and a maximum of Rs 1.5 lakh in a financial year. You can deposit money in the scheme in lump sum or in 12 installments. The duration of maturity is 15 years, in which a joint account cannot be opened and a citizen of India can open only one account.

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Post Office Senior Citizen Scheme (SCSS)
People 60 years of age and above can apply for the post office senior citizen scheme. Under this scheme, the rate of interest is 7.4 percent on the deposits. There is a lock-in period of 5 years for the principal, but premature withdrawal is allowed after completion of one year after paying the fine. A maximum investment of Rs 15 lakh can be made in this scheme. A senior citizen couple can jointly invest up to Rs 30 lakhs.


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