Finding the right investment option is important for everyone, and the government has introduced several post office schemes that are both secure and provide good returns.
These schemes not only help in saving taxes but also ensure long-term financial security.
Below are five popular post office investment schemes that can be considered a smart choice for growing your wealth.
Sukanya Samriddhi Yojana
This scheme is aimed at securing the future of daughters. You can invest in your daughter’s name with a minimum of ₹250 and a maximum of ₹1.5 lakh per year.
The scheme offers an attractive interest rate of 8.20% and provides tax benefits under Section 80C. It’s a great way to ensure financial stability for your child in the future.
Public Provident Fund (PPF)
PPF is a long-term, government-backed investment plan. You can contribute between ₹500 and ₹1.5 lakh annually.
With an interest rate of 7.10% and a 15-year term, it’s an excellent choice for those looking to save regularly while enjoying tax benefits under Section 80C.
National Savings Certificate (NSC)
The NSC is a reliable investment option offering good returns. You can start with just ₹1,000, and there’s no upper limit for investment.
The interest rate is 7.70%, and it qualifies for tax exemption under Section 80C. It’s a popular choice due to its consistent returns and safety.
Senior Citizen Savings Scheme (SCSS)
Designed for people aged 60 years and above, the SCSS offers high returns and is ideal for senior citizens who are seeking a safe investment.
You can invest between ₹1,000 and ₹30 lakh. With an interest rate of 8.20% per year, it also offers tax benefits under Section 80C.
Kisan Vikas Patra (KVP)
KVP is a trusted investment scheme for those who want to double their money over time. You can begin investing with ₹1,000, with no maximum limit.
The interest rate is 7.50%, but the money can be withdrawn only after 2.5 years. It’s a great option for those looking for a secure, long-term investment.
