Today’s era Most of the 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 troubled by the falling interest rates of banks. In such a situation, where should they invest? If you also want more returns on your investment, then the post office saving scheme can be the best option.
The government -recognized post office savings schemes not only keep your investment safe, but also give great returns. The most important thing about them is that you can start investing with a very small amount and gradually prepare a big fund. The biggest advantage of these schemes is that market fluctuations have no effect, 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 civil savings scheme (scss)
If you want financial security after retirement, Senior Citizen Savings Scheme (SCSS) is a great option. The scheme is specially made for senior citizens, where they get regular income and capital security. It gets interest up to 7.4%. It also provides the benefit of tax exemption under section 80C. Its time limit and investment limit have also been made easier, making it more accessible.
National Saving Certificate (NSC)
If you are looking for a safe and tax -saving investment, the National Saving Certificate (NSC) is also a great option. This is a government -backed scheme, that is, your money is completely safe in this. This scheme is for five years. It gets interest up to 7.7% (it may change from time to time). The amount invested under Section 80C gets a tax exemption. The amount on maturity is completely guaranteed.
Sukanya Samriddhi Yojana (SSY)
If you want to invest in the bright future of your daughters, Sukanya Samriddhi Yojana (SSY) is the best plan. This scheme is specially made for girls, which helps in completing their education and wedding expenses. The scheme provides high interest rate (which is currently 8.2%). It provides tax exemption under section 80C. This is a long term saving option, allowing big expenses such as the daughter’s higher education and marriage.
Post Office Time Deposit Scheme
You can invest from 1 to five years in the post office time deposit scheme. In this, you are getting more returns than bank FD. At the time of one year time deposit scheme, 6.9% is getting interest at the rate of 7.5% on 5 years.
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