Post Office Savings Schemes We all invest our savings. Everyone wants to get more profit than the amount they invest. Many people like to invest in post office schemes. In such a situation, the question comes in the mind of many people whether investing in post office is a good option or not?
Post Office Savings Scheme is safe for investment. In this, money is received after the maturity of the investment. There are many schemes to invest in the post office. If you also invest in post office scheme, then you can invest in many schemes like National Saving Certificate, Sukanya Samriddhi Yojana (SSY), Public Provident Fund, Post Office Time Deposit, Senior Citizen Saving Scheme (SCSS), Kisan Vikas Patra
In post office schemes, investors get higher interest rate as well as tax benefits. Because of this, people like all these schemes very much. You should take care of many things before investing in this scheme.
Keep these things in mind
- You can deposit at least Rs 500 in the post office scheme. It is mandatory to deposit this amount.
- In these schemes, you can open individual or joint account.
- Investors get 4% interest in this scheme.
- Apart from this, if a customer requests, he can avail many services like check book, ATM card, e-banking and mobile banking.
- In the post office scheme, interest is credited to the account at the end of the financial year.
- Apart from this, tax benefit is also available in this scheme under section 80TTA of the Income Tax Act. In this, a deduction of up to Rs 10,000 can be claimed from the total income of the investor.
- In this scheme, investors can select the tenure for which they are investing. Investors can choose between one year, two years, three years and five years tenure.
- The interest in the scheme is calculated after every three months. The amount of interest is credited to the investor’s account at the end of the financial year.
Post office scheme interest rates
New interest rates have been released for the second quarter of the financial year 2023-24 i.e. from July 2023 to 30 September 2023. If an investor invests for 1 year, then you get 6.9% interest. At the same time, 7 percent interest is available on investment of 2 years and 3 years. The highest interest is available on investment of 5 years. Interest of 7.5 percent is available on this.
Benefits of post office scheme
- Both rural and urban investors get the benefit of this scheme.
- Investing in this scheme is very easy.
- All those investors who do not want to take risk can invest in this scheme.
- In these schemes, interest ranges from 4 percent to 8.2 percent.
