Post Office Schemes– Now the post office is not just a place for letters to come and go but has become the best option to start savings. There was a time when the post office was limited to sending letters only, but a lot has changed with time. Now the post office is not just a letter delivery, but the Post Office Schemes have become a reliable savings and investment option for the common people.

Today you can open a Post Office Savings Account, make fixed deposits, invest in insurance plans and many government schemes in the post office. In such a situation, if you also want to make a big fund by making small savings in low income, then these schemes of post office can be very beneficial for you.

Sukanya Samriddhi Yojana

This is the best savings scheme for daughters. If you have a girl child aged 0 to 10 years, then you can open her account in this scheme. It gives up to 8.2% interest per annum. In this scheme, a minimum of Rs 250 and a maximum of Rs 1.5 lakh can be deposited annually. This scheme is made only for the bright future of daughters.

Recurring Deposit (RD)

This scheme of the post office is for those people who want to make small savings. One can start investing in it with Rs 100 every month. Currently, this scheme gives 6.7% annual interest. On maturity, you get the full amount along with interest.

Term Deposit (TD)

If you want fixed income for a fixed period, then this scheme is for you. It is for a period of 1, 2, 3 and 5 years. The interest you will get depends on the term you choose. Senior citizens get the benefit of additional interest in this.

Senior Citizen Savings Scheme

People aged 60 years or above can invest in this scheme. This scheme with a tenure of 5 years can be extended for 3 more years. Currently, it gives 8.2% annual interest. This scheme is very beneficial for those who want regular income after retirement.

Kisan Vikas Patra (KVP)

This scheme has been launched especially for farmers, but anyone can invest in it. The amount invested in this scheme doubles in 115 months i.e. about 9 years and 5 months. Currently, it gives an interest of 7.5%.

Post Office Savings Account

Post Office Savings Account now offers facilities similar to banking. It offers facilities like cheque book, ATM, mobile and internet banking. If it is not active for 3 years, it becomes dormant, but it can be activated again through KYC.

Public Provident Fund (PPF)

PPF account is for a period of 15 years, which you can extend in blocks of 5 years each. It is necessary to deposit at least ₹500 every year. The interest is credited annually and this interest is tax free.

POMIS

The amount you invest in this scheme will get a fixed interest every month. If for any reason the scheme has to be closed after a year, it can be closed, but a small penalty will be charged. If the investor dies, the entire money along with interest is given to the nominee.

National Savings Certificate (NSC)

This scheme is for 5 years and gives guaranteed returns. Investment made in NSC is tax-exempt and it can also be kept as a guarantee with banks or housing finance companies.

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