Benefit in post office more than bank, 6.7% return will be available under this scheme

Post Office Investment Plan: In the era of rapidly rising inflation, everyone is paying a lot of attention to their savings. In such a situation, many schemes run by the government can be of your use. People invest their money in banks or post offices. Due to which they get a good return. At present, you can turn to the post office scheme for small savings scheme. Under which you can get the benefit of income tax exemption along with good returns.

The name of this post office savings scheme is Time Deposit Scheme, under which the investor is being given better returns as well as tax benefits. Due to which many middle class people are seen turning to this scheme. This post office scheme gives investment opportunity for 1 to 5 years.

Under this scheme, you can open this account single, joint account with two people or a minor and two adults together. In which the post office gives investors the option to open an account to invest for 1,2,3 and 5 years. Through which an interest of 5.5 percent is being given on the investment of investors in 1 to 3 years and 6.7 percent for 5 years.

At present, one advantage of investing in this scheme is that investors are given a lot of tax benefits. Due to which it has become a very popular scheme among the middle class people. Under Section 80C of the Income Tax Act of 1961, investors get a tax benefit of Rs 1.5 lakh under the account of Time Deposit Scheme opened for 5 years. At the same time, on completion of the scheme, the investor can extend the time deposit account again by submitting an application form as well as submitting the passbook.

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