These 5 saving schemes of Post Office are getting more interest than FD, have you invested in any of them? – India TV Hindi

small investors The post office saving scheme is quite popular among the people. The reason for this is that they get higher returns than banks without any risk. Let us tell you that post office savings schemes give many options to investors with interest rates up to 8.2%. Most of these post office schemes also offer income tax exemption under Section 80C of the Income Tax Act. Today we are telling about the top 5 post office savings schemes.

Senior Citizens Savings Scheme (SCSS)

Senior Citizens Savings Scheme is supported by the Government of India. Senior citizens living in India can open an account and invest a lump sum amount in the scheme. They can open the account individually or jointly and receive regular income with tax exemption.

Interest rate: 8.2% per annum.

Kisan Vikas Patra

Kisan Vikas Patra is a savings certificate issued by the Government of India. This scheme offers a fixed interest rate and guaranteed returns. However, there is no income tax exemption on investment in this.

Interest Rate: 7.5% compounded annually (amount invested doubles in 115 months or 9 years and 7 months).

Post Office Monthly Income Scheme Account (MIS)

Post Office Monthly Income Scheme gives investors an opportunity to earn stable income. An individual can invest a minimum of Rs 1,500 and a maximum of Rs 9 lakh, while the maximum limit for joint accounts is Rs 15 lakh. Interest is taxable and not exempt under section 80C.

Interest Rate: 7.4% per annum (payable monthly).

National Savings Certificate (NSC)

National Savings Certificate is a guaranteed investment and savings scheme with complete capital protection like other fixed income instruments. Any person can open a single account while three persons can open a joint account. A guardian can also operate an NSC account on behalf of a minor or an unwell person.

Interest Rate: 7.7% compounded annually but payable on maturity.

Mahila Samman Savings Certificate

Mahila Samman Savings Certificate is an initiative launched by the government which aims to promote the culture of savings among Indian women. However, this scheme does not provide any tax exemption. Interest income is taxable, with tax deducted depending on the income slab of the individual.

Interest Rate: 7.5% interest per annum. Interest will be compounded on quarterly basis and will be credited to the account and paid at the time of account closure.

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