Are you looking for a secure and profitable investment option? Look no further than Post Office Savings Schemes. With the stock market experiencing volatility, more and more people are turning towards savings schemes for investment. Post office schemes offer attractive interest rates and tax benefits, making them an ideal investment option for those seeking steady returns.
Let’s take a closer look at some of the popular Post Office Savings Schemes:
Public Provident Fund (PPF)
PPF is a long-term savings scheme that has been popular among investors for many years. The scheme has a maturity period of 15 years, and investors can extend it for five years after that. To start investing in PPF, you need to invest a minimum of Rs 500 annually. The maximum investment allowed is Rs 1.5 lakh annually. The government currently offers a 7.1 percent interest rate on PPF, which comes under the purview of Section 80C of Income Tax.
National Saving Monthly Income Scheme (NSMIS)
If you are looking for a monthly income option, NSMIS is a great choice. The scheme offers a 7.4 percent interest rate, and you can invest up to Rs 9 lakh in a single account or Rs 15 lakh in a joint account. NSMIS has a maturity period of five years.
Mahila Samman Saving Certificate (MSSC)
MSSC is a new scheme launched by the government specifically for women. It requires a minimum investment of Rs 1,000 and allows a maximum investment of Rs 2 lakh per financial year. The scheme offers a 7.5 percent interest rate, and investors can avail tax exemption benefits.
Sukanya Samriddhi Yojana (SSY)
SSY is a scheme aimed at the better upbringing of daughters. The scheme requires a minimum investment of Rs 250 and allows a maximum investment of Rs 1.5 lakh annually. The government currently offers an attractive interest rate of 8 percent on SSY. Investors can also avail tax benefits under Section 80C of Income Tax.
National Savings Certificate (NSC)
NSC is a popular savings scheme offered by the post office. It requires a minimum investment of Rs 1,000 and has no maximum investment limit. NSC offers a 7.7 percent interest rate and provides tax exemption benefits.
Conclusion
In conclusion, Post Office Savings Schemes offer a great investment option for those seeking steady returns and tax benefits. With multiple options available, investors can choose a scheme that suits their needs and financial goals. Invest in these schemes today and secure your financial future.
