The biggest concern for investors is the safety of their money. Post office schemes are considered the safest in this regard because they have a government guarantee. The return on these schemes is fixed and stable. There is no risk of fluctuations like the stock market. This is the reason why small and middle-class investors like them more.
Post Office Savings Account
This account is better for those who want safe and easy savings options. An account can be opened with a minimum of Rs 500, and a stable interest rate of 4 percent is available. The interest of this account is not affected even if there is a fluctuation in the market.
National Savings Recurring Deposit (RD)
Recurring Deposit is special for those investors who want to save a little every month. In this, one can start with a minimum of Rs 100, and there is no maximum limit on investment. The interest is compounded on a quarterly basis, due to which the amount grows rapidly.
National Savings Time Deposit (TD)
This scheme is beneficial for those who invest for the medium to long term. Investment can be started with just Rs 1,000, and its duration can be chosen for 1, 2, 3, or 5 years. Interest is compounded annually, which gives safe and good returns.
National Savings Monthly Income Account
This scheme is specially designed for retired people who need a stable income every month. In this, up to Rs 9 lakh can be deposited in a single account and Rs 15 lakh in a joint account. Monthly expenses can be easily met by getting a fixed interest amount every month.
Senior Citizen Savings Scheme (SCSS)
This scheme is a reliable option for senior citizens. In this, one can invest from Rs 1,000 to Rs 30 lakh. Interest is received quarterly, which provides support for a stable income in old age.
Public Provident Fund (PPF)
PPF is the best scheme for long-term safe investment. In this, a minimum of Rs 500 and a maximum of Rs 1.5 lakh can be invested annually. The lock-in period is 15 years, and the interest is tax-free. This is the best option for retirement planning.
Sukanya Samriddhi Yojana (SSA)
This scheme has been started to secure the future of daughters. In this, one can start with Rs 250 and a maximum of Rs 1.5 lakh can be deposited annually. Currently, an interest rate of 8.2 percent is being given on this. The account matures when the daughter turns 21 years old.
National Savings Certificate (NSC)
This scheme is for those who want a safe investment along with tax savings. It is necessary to invest a minimum of Rs 1,000 in it. Its duration is 5 years, and the investor gets guaranteed returns.
Kisan Vikas Patra (KVP)
This scheme assures investors of doubling their money in a fixed period. The amount deposited doubles in about 124 months, i.e., about 10 years and 4 months. There is no maximum limit on investment in this.
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Mahila Samman Saving Certificate (MSSC)
This scheme has been started especially for women. A minimum of Rs 1,000 and a maximum of Rs 2 lakh can be invested in it. By getting attractive returns at a fixed interest rate, women can increase their savings safely.