Best post office saving schemes 

                Post Office offers various types of Saving Schemes. The schemes are known as small saving schemes. Some of these schemes offer tax saving benefits under Income Tax Act. The interest rates are reviewed and fixed quarterly by government. 

1)Senior citizen Saving Scheme

                In this scheme, senior citizens aged,  above 60 years can invest to earn regular interest income. There is a lock in period of 5 years, premature withdrawal  is allowed after 1 year, they should paying penalty. The maximum that can be invested upto Rs 15 lakh. The account opened  single/ jointly with spouse. This scheme qualifies for tax break. It offers capital protection, backed by government. It help retirees Bridge the gap between pension and the last salary.

 2)Sukanya Samriddhi Yojana 

             The investment amount,  the interest, maturity amount are exempted from tax. parents can open only one account per girl child. The maturity amount payable after 21 years old. It can be opened any time after the birth of a girl till 10 years old. Minimum of Rs  250 and maximum of Rs 1.5 Lakh can be deposited. The account will opening till the marriage of the girl child after 18 years old. The birth certificate submitted by guardian in the post office. 

3)Public provident fund

              It is another popular investment with enjoy exempt  status. This has a lock in period of 15 years. But partial withdrawal is allowed from 7th year. Loan facility is available from third year. 

               it remains a suitable alternative for allocating the the debt portion of one’s investment. It is a 15 year scheme extended in block of 5 years. It can also be opened online.A person of any age can open PPF account. One can deposit a maximum of 12 times in a year. There are provisions to take a loans and partial withdrawal from the scheme. The interest rate returns are set by government every quarter based on return of government securities.

               The minimum annual  amount required to keep Rs 500 the maximum amount  can be in a financial year Rs 1.5 Lakh.

4) 5 year NSC VIII  issue

              It is the National Savings certificates comes with the lock in period 5 years. It can be made Singly, jointly. Here interest is not paid but rather reinvested.

5) post office time deposit

             It  is also accept time deposit. It can be placed for any of 1,  2, 3 and 5 years. A minor above the age of 10 years can invest in this scheme. A 5yr  time deposit offer tax benefit. 

6)Post office monthly income scheme

                It is only offers  monthly interest payment to investors. Minor aged 10 years and above can invest in this scheme. It has the tenure of 5 years. It’s  interest is auto credited into the investor savings account. The premature withdrawal facility can be availed after one year.

7) Kisan Vikas Patra

               If you wish to double your investment amount you can invest in Kisan Vikas Patra. The rate of interest is reviewed quarterly by government. Time period in which  money invested doubles, varies with interest rate.

8)Post office  recurring deposit 

              In this scheme the investor can invest small fixed  amounts of money at regular intervals for 5 years. No limit on number of account, default fee 0.05 rupees  to Rs 5 of deposit. After 4 regular defaults, account will be discontinued. Account revived within 2 months.

9) post office savings account 

we can open a savings account with post office and interested in paid  on the balance. Account can be opened with cash only with minimum Rs 20 and and no maximum it.

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