Advantages of post office saving schemes 


     A Post office is a public facility that provides mail services, accepting letters and parcels, providing  stamps,etc.It provides and accepts government  forms like,e passport applications, processing government services like road tax,bank fees etc. Post office has many  savings  schemes.

          Post office time deposit  ,post office savings bank account,post office recurring  deposits,post office monthly  income scheme,post office senior citizens saving scheme,post office sukanya samriddhi account  scheme are the various  schemes of post office.

         These schemes offer reliability and risk free returns on investment. PPF scheme is operated  via 8200 branches of public sector banks .Post office savings account has a minimum deposit  of Rs 500.we can open single or joint accounts. 4% of interest rates  is given to the deposits. You will get a cheque book,atm card,e banking etc.

      RD means Recurring deposit account.  We can fix an amount for 5 years.we can fix monthly payment from Rs 100 we will get an interest of 5.8%you can get a loan of up to 50% after completing 12 installments without default. 

       TD means Time Deposit account. We can choose 1year,2 year,3 year,5 year time deposit accounts.  We can deposit a minimum Rs 1000. For a tenure of up to 3 years,we will get 5.5% interest rate and for 5 years we will get 6.7 % interest  rates.

       The Monthly Income Scheme is another savings scheme. You can deposit Rs 1000 to Rs 4.5 lakh in a single account  and 9 lakh in a joint account.   You will get 6.6%interest. You will get a fixed monthly cannot prematurely close the account before 1 year.

       Senior citizens savings scheme is another post office scheme.It is the government  backed retirement can deposit  Rs 1000 to Rs 15 lakhs.The interest rate is 7.4 %.Above the age of 60 years are eligible  to this scheme.

      PPF is a public provident Fund account. It offers income tax deductions up to Rs 1.5 lakhs/year.You can deposit Rs 500 to Rs 1.5 lakh for opening the account.  The tenure is 15 years. You will get a 7.1 % interest rate. 

       Sukanya samridhi account is a government  scheme.It is for girl child.only girls below the age of 10 yrs are eligible. Minimum deposit  is Rs 250 and maximum is Rs 1.5 lakh per year. Interest rate is 7.6 %. Parents can operate accounts until the child ages 18 years . The deposit is for 15 years.After 21 years we can withdraw this money. 

These schemes are easy to invest .These schemes  are also secure. 

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