Post Office Saving Schemes: Invest Little & Earn Big

If you literally wish to multiply your hard-earned money, then here are some of the best saving schemes being offered by the India Post Office. These post office saving schemes offer a good return. Among several Post Office Small Savings Schemes, check out these popular ones such as Senior Citizen Savings Scheme, Sukanya Samriddhi Scheme, Kisan Vikas Patra, Public provident Fund & National Savings Certificate Scheme.

Senior Citizen Saving Scheme

The Post office offered this scheme especially for the senior citizens, which is known as a “Senior Citizen Saving Scheme”. This post office scheme is currently paying an interest of 7.4% & it doubles your money in 9 years with 7.4% interest rate per annum, the payable from the date of deposit of 31^st March/ 30^th September/31^st December in the first instance & thereafter, the interest shall be payable on 31^st March, 30^th June, 30^th September & 31^st December.

The Senior Citizens must note that in this scheme, there will be only one deposit in the account in multiple of INR.1000/- maximum not exceeding Rs 15lakh.

Sukanya Samriddhi Account Scheme

India Post offers one wonderful small saving scheme to the people, which goes by the name Sukanya Samriddhi Account Scheme. This scheme offers a highest interest of 7.6% & this scheme will take 9 years to double the money.

Under this scheme, a minimum of Rs 250 & a maximum of Rs 1, 50,000 in a financial year can be deposited. A subsequent deposit in the multiple of Rs 50 can be made; deposits can be made in a lump sum as well. However, there is no limit on the number of deposits either in a month or in a financial year.

Kisan Vikas Patra Scheme

Through Kisan Vikas Patra Scheme, you can also invest in this scheme, at present it offers only a 6.9% interest rate, with this interest rate, the amount invested here doubles in 10 years & 4 months. Under this scheme, a minimum of Rs 1000 & in multiples of Rs 100 can be deposited. However, there is not any maximum limit.

Public Provident Fund

The India Post offers 15 years public provident fund for the people with 7.1% interest. This scheme will take about 10 years to double your money at this rate. Under this scheme, a minimum amount of Rs 500 & a maximum amount of Rs 1, 50, 000 can be deposited in a financial year. Deposits can be made in a lump sum or in an installment.

National Savings Certificate Scheme

You can earn a big amount if you start saving very little every month on this scheme. This scheme offers 6.8% of interest which is a 5 years savings plan & if the money is invested with this interest rate, it will double in about 10 years.