Every person must save money in his life. There can be many ways to save and those methods can be right or wrong in the eyes of different people.
However, the most important thing is that one should save. This savings helps a person in financially difficult times. Apart from this, if you have to do some work in future, the cost of which will be very high, then the savings already made by you in doing that work can also play a very important contribution.
In such a situation, if you choose such a savings scheme, in which you get good interest i.e. high interest rate, then it is even better. With this, you will be able to earn more interest on your saved money, which will be useful for you in the form of additional money. In such a situation, let us tell you about three such savings schemes of the post office, in which you will get an interest rate of more than 7 percent.
Scheme Name- Senior Citizen Savings Scheme
Interest rate – 7.4 percent (interest will be available quarterly)
Senior Citizen Savings Scheme is for people above 60 years of age. However, for retired civil servants, this minimum age limit becomes 55 years subject to certain conditions. Similarly, it becomes 50 years for a retired defense employee with certain conditions. The maximum deposit limit under the Senior Citizens Savings Scheme is Rs 15 lakh and the interest is paid quarterly.
Interest rate – 7.1 percent (interest will be received annually)
Any Indian citizen who is of majority is eligible to open a PPF account. Apart from this, PPF account can be opened by the guardian on behalf of the minor / terminally ill person. Only one account is allowed to be opened in any post office or any bank in the country. In this, a minimum deposit of Rs 500 and a maximum of Rs 1,50,000 can be deposited in a financial year. If minimum Rs 500 is not deposited in any financial year, the account will be closed.
Name of the scheme – Sukanya Samriddhi Yojana
Interest rate – 7.6 percent (interest will be received annually)
Sukanya Samriddhi Yojana is for the girl child. A guardian can open an account in the name of a girl child below the age of 10 years. It can be opened in any post office or bank but only one account can be opened in the name of a girl child. At the same time, Sukanya Samriddhi Account can be opened for maximum two girls in a family.
However, there may be more than two accounts in case of twin/triplet births. The minimum amount that can be deposited in the account is Rs 250 (Financial Year) and the maximum amount that can be deposited is Rs 1,50,000 (Financial Year).