PERSONAL FINANCE
All the post office investment schemes are tax-exempt under Section 80C, i.e. tax exemption up to Rs. 1,50,000 is allowed.
If you are thinking of investing in risk-free saving schemes then here's your chance to do some investments. Post Office Investments include a number of saving schemes that provide a high rate of interest as well as tax benefits and most importantly, carry the sovereign guarantee of the Indian Government.
Among the Post Office schemes, National Small Savings Schemes are very popular. In these small savings schemes, people make moderate investment and get assured returns. The interest rates on small savings schemes are decided by the Union Ministry of Finance.
All the post office investment schemes are tax-exempt under Section 80C, i.e. tax exemption up to Rs. 1,50,000 is allowed. Some small saving schemes offered by Post Office are Public Provident Fund (PPF), Sukanya Samriddhi Yojana (SSY), National Savings Certificate (NSC), Post Office Time Deposit for a 5 Year Term, and Senior Citizen Savings Scheme (SCSS).
As of April 27, 2021, the Government of India has fixed interest rates applicable to small savings schemes. These schemes are Post Office Savings Account, 1 Year Time Deposit, 2 Year Time Deposit, 3 Year Time Deposit, 5 Year Time Deposit, 5 Year Recurring Deposit Scheme, Senior Citizen Savings Scheme, Monthly Income Account, National Savings Certificate, Public Provident Fund Scheme, Kisan Vikas Patra, and Sukanya Samriddhi Account Scheme.
Investing in Post Office Time Deposit, Post Office Recurring Deposit, Post Office Monthly Income Scheme, National Savings Certificate (NSC), and Kisan Vikas Patra (KVP) in a given quarter will carry the rate in that quarter for the lock-in entire tenure of the savings scheme.
Post Office Savings Account 4.0%
Post Office Recurring Deposit 5.8%
Post Office Monthly Income Scheme 6.6%
Post Office Time Deposit (1 year) 5.5%
Post Office Time Deposit (2 years) 5.5%
Post Office Time Deposit (3 years) 5.5%
Post Office Time Deposit (4 years) 6.7%
Kisan Vikas Patra (KVP) 6.9%
Public Provident Fund (PPF) 7.1%
Sukanya Samriddhi Yojana 7.6%
National Savings Certificate 6.8%
Senior Citizens Savings Scheme 7.4%
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