Post Office: In today’s era, most people have understood the need for savings. This is the reason why they invest in different places according to their needs. But which investment is safe and gives good returns? Many people are afraid of the stock market, while some are worried about the falling interest rates of banks. Where to invest in such a situation? If you also want to get high returns on your investment, then Post Office Savings Schemes can prove to be the best option for you.

Post Office Savings Schemes recognized by the government not only keep your investment safe but also give great returns. The most special thing about them is that you can start investing in them with a very small amount and gradually create a large fund. The biggest advantage of these schemes is that they are not affected by market fluctuations, that is, the risk is almost zero. This is the reason why these schemes prove to be very beneficial for the elderly, women, children, and working people.

Senior Citizen Savings Scheme

If you want financial security after retirement, then Senior Citizen Savings Scheme (SCSS) is an excellent option. This scheme is specially designed for senior citizens, where they get regular income and capital protection. This scheme gives up to 7.4% interest (this may change from time to time), which is more than bank FD. It also offers the benefit of tax exemption under Section 80C of the Income Tax Act. Its time limit and investment limit have also been simplified, making it more accessible.

National Savings Certificate

If you are looking for a safe and tax-saving investment, then National Savings Certificate (NSC) is also a great option. It is a government-backed scheme, which means your money is completely safe in it. This scheme is for five years. It gives up to 7.7% interest (this can also change), which helps in increasing your investment. The amount invested under Section 80C offers the benefit of tax exemption. The amount received on maturity is completely guaranteed, that is, you will get your money back.

Sukanya Samriddhi Yojana

If you want to invest in the bright future of your daughters, then Sukanya Samriddhi Yojana (SSY) is the best scheme. This scheme is specially designed for girls, which helps in meeting their education and marriage expenses. This scheme offers a high interest rate (which is currently 8.2%). It also provides tax exemption under section 80C, so that you can also save tax. This is a long-term savings option, through which big expenses like a daughter’s higher education and marriage can be easily met.

Post Office Time Deposit Scheme

You can invest in the Post Office Time Deposit Scheme for 1 to 5 years. Its most special thing is that in this you are getting more return than bank FD.

1-year time deposit scheme:- It is giving 6.9% interest.

5-year time deposit scheme:- It is giving 7.5% interest.

This is an excellent option for those who want good interest along with safe investment and are flexible about their investment period.