Post Office Small Savings Scheme provides a high return with zero risk involved. An investor can open an account in Post Office for as low as Rs 100.
For risk-averse citizens, post office investment schemes are the best options to get good returns for their money without taking any unnecessary risks. In such a case, if you are looking at investing your money in a secured way you could consider the plans offered by India Post Office.
Another important thing is that investment amount in Post Office schemes could be as low as Rs 500. And that's not all. Investors can also avail of tax benefits under section 80C of the Income Tax Act for various Post Office Schemes.
What are the various schemes by Post Office?
(Image Source: Twitter@IndiaPostOffice)
The Post Office Small Savings Scheme provides a high return with zero risk involved.
An investor can open his/her account in Post Office for as low as Rs 100.
Post Office Public Provident Fund scheme provides investors with easy money by investing for a period of 15 years.
The investment scheme could be a suitable investment option for long-term investors.
Presently, investors are getting more than 7% interest on their Post Office Public Provident Fund scheme.
Invest a maximum of 1.5 lakh or about Rs 12,500 per month and get lakhs at the time of maturity.
If you invest Rs 12,500 every month you can get about Rs 40 lakh at the time of maturity at 7.1%.
The total investment in 15 years will come to Rs 22.5 lakh while the interest would be Rs 18.18 lakh.
Invest a minimum of Rs 500 and a maximum of Rs 1.5 lakh in the Post Office Public Provident Fund.
Investors of all ages can open their accounts with Post Office to start saving in the PPF scheme.
Investors are allowed to make one withdrawal in a year or they can withdraw their full savings anytime.
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