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Post Office news: Now double your funds by investing in THESE 8 schemes
The government has not made any changes in the rate of interest of small savings for this quarter but you can be assured that your money will not sink
Updated : Aug 08, 2021, 06:12 PM IST | Edited by : Anupama Yadav
 "Post office investment")
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Investment is a great way to keep your boat afloat in old age and if you are looking for a safe space to invest in then the best option for you is the Post Office. This service caters to the needs of people from all sorts of backgrounds assures great returns with a high rate of interest. Though the government has not made any changes in the rate of interest of small savings for this quarter, you can be assured that your money will not sink here.
Let's talk about all the Post Office schemes that will help you double your money:
Post Office Time Deposit
In this scheme, you can invest for 1 -3 years and get a rate of interest of 5.5%. Investing in this help your money double in almost 13 years. If you invest directly for 5 years then you can get an interest rate of 6.7%. This scheme will double your money in 10 years.
Post Office Savings Bank Account
This is one of the most basic investments one can make at the Post office where you'll get an interest rate of 4% and will have to wait a really long time to double the money, almost 18 years though your money will not sink.
Post Office Recurring Deposit
This is like any other RD available at the bank but gives you a better rate of interest than others at 5.8% and will double your money in 12 years.
Post Office Monthly Income Scheme
The Post Office Monthly Income Scheme (MIS) can be called a great scheme because it offers a really good rate of interest which is 6.6%, which is not offered by the best of banks and the time to double the money is only 10 years which is pretty less compared to the others.
Post Office Senior Citizens Savings Scheme
This scheme is only available for senior citizens and offers a rate of interest of 7.4% and it will only take 9 years to double your money.
Post Office PPF
This is a provident fund provided by the post office, here you can invest for 15 years straight at an interest rate of 7.1%.
Post Office Sukanya Samriddhi Account
This is a special scheme only for girls in order to protect their future. Parents can invest here in the name of their daughter and get an interest rate of 7.6%.
Post Office National Saving Certificate
The National Saving Certificate (NSC) is offered at 6.8%. The scheme can also be used for saving income tax and is a 5-year plan.
