Post Office Schemes: Post Office savings schemes have brought many great options for women investors. Investing in these schemes not only provides social security, but they also give higher returns than banks. Whether it is to secure the future of daughters, regular income is needed every month, or to save tax, these schemes of post office meet every need. Come, today we will know about those 5 best post office savings schemes which are considered best for women.
5 Best Post Office Savings Schemes for Women
These schemes of post office can prove to be a strong step for women towards financial security and self-reliance:
Sukanya Samriddhi Savings Scheme
This scheme is specially designed to secure the future of daughters. Investment can be made in it before the daughter turns 10 years old. Currently, this scheme is getting a tremendous interest rate of 8.2% per annum, which is much higher than many bank FDs. After opening the account, it can be run for a maximum of 15 years.
The interest rate on Sukanya Samriddhi Yojana is reviewed every three months. The amount deposited under this scheme also gets tax exemption under Section 80C of the Income Tax Act, making it a scheme with ‘Triple E’ (Exempt-Exempt-Exempt) benefits.
Post Office Monthly Income Scheme
This scheme is a great option for women who want a fixed income every month. A minimum of ₹1,000 can be invested in the Post Office Monthly Income Scheme, and it currently offers an attractive interest rate of 7.4%. This scheme helps in creating a stable source of regular income, which is especially beneficial for housewives or retired women. It has a tenure of 5 years, and you can receive monthly interest directly into your savings account.
Mahila Samman Savings Certificate
Mahila Samman Savings Certificate is a special risk-free scheme for women investors, which was launched to commemorate ‘Azadi Ka Amrit Mahotsav’. Women of all ages can invest in it, making it suitable for everyone from young girls to senior women.
A maximum of ₹2 lakh can be deposited in an account in this scheme. Here an annual interest rate of 7.5% is available, and the most important thing is that after a year you can withdraw up to 40% of your deposit, which maintains liquidity.
National Savings Certificate
National Savings Certificate is a safe and low-risk scheme, suitable for all types of investors. A minimum of ₹100 can be invested in it, and its maturity period is 5 years. Currently, it is getting a compounded annual interest rate of 7.7%. The amount invested in NSC also gets a tax exemption of up to ₹1.5 lakh under Section 80C of the Income Tax Act, making it a great combination of both investment and tax savings.
Post Office PPF Scheme
The Post Office Public Provident Fund (PPF) scheme is an excellent long-term investment scheme, which helps you to build a large capital safely. It requires a minimum investment of ₹500, and currently, it is getting an interest rate of 7.1% per annum.
This scheme comes with a tenure of 15 years, but it can also be extended for 5-5 years. The amount invested in PPF, the interest earned, and the amount received on maturity, three are tax-exempt, making it an excellent tax saving and retirement planning option.
By investing in all these post office schemes, women can not only secure their future but also become financially self-reliant. These schemes are backed by the government, so investing in them is completely safe.