These days, bank fixed deposits only offer 6 to 7 percent interest. Consequently, the general public is increasingly turning to Post Office small savings schemes. These schemes not only offer higher interest rates but also provide tax relief. Whether employed or business owners, Post Office schemes are proving to be a reliable option for everyone seeking secure and better returns.

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Kisan Vikas Patra

The Post Office Kisan Vikas Patra is a completely safe government scheme, currently offering a 7.5 percent annual compound interest. Its special feature is that the invested amount doubles in just 115 months. For example, if someone deposits ₹10,000, they receive ₹20,000 upon maturity. There is no market risk, and the entire amount is government guaranteed.

Senior Citizen Savings Scheme

The Senior Citizen Savings Scheme is an excellent option for those over 60 years of age. This scheme offers an attractive interest rate of 8.2 per cent, paid directly into the bank account every three months. It is considered a stable source of regular income after retirement. An individual can invest a maximum of ₹15 lakh, while a spouse can jointly deposit up to ₹30 lakh.

Monthly Income Scheme

If a person wants a secure investment with a guaranteed monthly income, the Post Office Monthly Income Scheme is an ideal option. It offers a 7.4 percent annual interest rate, and the interest is transferred to the bank account every month. For example, an investment of ₹1 lakh generates an income of approximately ₹620 per month. This scheme allows investments starting at ₹1,000 and up to ₹9 lakh in a single account and ₹15 lakh in a joint account.

Time Deposit Scheme

The Post Office’s 2-year time deposit scheme is similar to a bank FD, but offers an interest rate of approximately 7 per cent. Interest is compounded every three months, providing good growth. A deposit of ₹1 lakh generates interest of approximately ₹7,200 after two years. This is a safe, government-backed deposit, although interest may be slightly reduced if the money is withdrawn prematurely.

Mahila Samman Savings Certificate

This special scheme, opened in the name of women and girls, is valid for only two years and offers a compound interest rate of 7.5 per cent. If a woman deposits ₹10,000, she receives approximately ₹11,600 after two years. A maximum investment of ₹2 lakh can be made under this scheme. This scheme is very useful for those seeking safe and good returns in a short period of time.

Sukanya Samriddhi Yojana

The Sukanya Samriddhi Yojana, run in the name of a daughter, is one of the most popular options for parents. This scheme currently offers an attractive interest rate of 8.2 per cent and is completely tax-free. The account’s term lasts until the daughter turns 21 or gets married. This scheme offers both excellent returns and security over the long term.

National Savings Certificate

The National Savings Certificate is a safe investment option with a 5-year tenure, offering a compound interest rate of 7.7%. An investment of ₹10,000 yields approximately ₹14,500 in five years. It also offers a tax exemption of up to ₹1.5 lakh under Section 80C. However, interest is taxable.

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Post Office RD

The Post Office Recurring Deposit Scheme can be started with a monthly deposit of just ₹100. It offers a 6.8% compound interest rate, allowing you to gradually accumulate a substantial corpus. Both individual and joint accounts can be opened, and there is no upper investment limit.