Post Office Top 5 Scheme: Post Office Schemes continue to attract investors due to their safety and low risk of losing money. Today, we’ll explore some of these schemes that can help you build a substantial fund through your investments, while also offering tax benefits. You can save up to Rs 1.5 lakh in taxes under section 80C with these options. Here are the top 5 tax-saving schemes:
1. Public Provident Fund (PPF)
PPF is a favorite among investors. You can contribute a significant amount, and it allows for tax savings of up to Rs 1.5 lakh under section 80C. Your investment is locked in for 15 years, and you can earn a return of 7.1%.
2. National Savings Certificate (NSC)
You can kick off this scheme with just Rs 1000. Similar to PPF, it also offers tax deductions, allowing you to save up to Rs 1.5 lakh under section 80C. The interest rate for NSC is 7.7%, and the investment period is 5 years.
3. Senior Citizen Savings Scheme (SCSS)
This scheme is quite popular for those planning for retirement. You can start with a minimum of Rs 1000, and the maximum investment is Rs 30 lakh. SCSS offers a return of 8.2%, and you can also benefit from tax deductions under section 80C.
4. Sukanya Samriddhi Yojana (SSY)
Designed specifically for girls, this scheme allows you to invest for your daughter’s future. You can start with just Rs 250, and it also provides tax savings of up to Rs 1.5 lakh under section 80C. The return on investment can go up to 8.2%.
5. Post Office Time Deposit Scheme (POTD)
With this scheme, you can invest for a duration of 5 years. It also offers tax savings of up to Rs 1.5 lakh under section 80C.
Along with these, the above mention schemes have more features which can make impact in your decision. For more details, visit to you nearest Post Office branch and read the documents carefully and understand.