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Best Saving Schemes: How You Can Double Your Small Investment with Post Office Saving Schemes; Complete Details Inside

Tooba Maher
Tooba Maher
Post Office Schemes

People get often confused among all the schemes which one of them is the best and they should opt for? Here, we will inform you about one such scheme known as The Post Office Saving Schemes for a secure investment. The Post Office Saving Schemes include various products that offer reliability and risk-free returns on investment.

What are the Post Office Saving Schemes?

These schemes are operated by around 1.54 lakh post offices which are spread all over the country, like, the PPF scheme. PPF is operated through 8200 branches of public sector banks with an addition to the post offices in each city.

What are the Savings Schemes under Post Office Investments?

  • Post Office Savings Account

  • Five Year Post Office Recurring Deposit Account (RD)

  • Post Office Time Deposit Account (TD)

  • Post Office Monthly Income Scheme Account (MIS)

  • Kisan Vikas Patra (KVP)

  • Sukanya Samriddhi Accounts (SSA)

  • Senior Citizen Savings Scheme (SCSS)

  • 15 year Public Provident Fund Account (PPF)

  • National Savings Certificates (NSC)

What are the benefits of the Post Office Saving Schemes?

The Post Office Investment Saving Schemes has various advantages in India which are as follows:

1. Easy to invest

These saving schemes are easy to enrol, simple, easily available and are perfectly suited for both rural as well as urban investors. If you want to hedge risk in the portfolio for a fixed decent return, then you can simply invest in these schemes.

2. Less Documentation

There is limited documentation & proper procedures in the Post office Scheme. It is backed by the government. Thus, it ensures that these saving schemes are simple & stable to choose for & safe to be locked with them.

3. Long-term Investment

Post office Investments Schemes are long-term oriented with the investment period extending up to 15 years in case of a PPF account. Hence, it can be said that these investment options are an excellent option for retirement & pension planning.

4. Tax exemption

It is to be noted that many of these schemes are eligible for tax rebates under Section 80C for the deposit amount. However, there are some schemes example, the PPF, the SCSS, the Sukanya Samriddhi Yojana, etc. which have the interest earned amount exempted from taxation.

5. Interest rates

As the Post office Investments Schemes are backed by the Government of India, interest rates offered in this scheme are risk-free. They vary from 4% - 9% with only a minimal amount of risk involved.
All these small savings schemes are backed by the Government of India through post offices to ensure a safe investment avenue for the public. These schemes provide good returns & are safe and secure.

Disclaimer: All efforts have been made to make sure that the above information is accurate. No guarantee is made regarding correctness of data. You must verify with all scheme information document before making any investment.


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