New Delhi, Business Desk. The post office offers various deposit plans from its customers. They are also known as small savings plans. These plans are known for safe, good and guaranteed returns. In particular, the central government supports these schemes. Some of these schemes also get income tax exemption under Section C0C of the Indian Income Tax Act. The interest rate on these deposit schemes is fixed by the government every three months. Let us know about the current interest rates of these deposit schemes.
1. National Savings Certificate
The lock-in period of this plan is five years. Income tax exemption under section C0C is also available in this scheme. There is no minimum investment of Rs.100 and maximum investment in this scheme. The scheme is currently offering an interest rate of 6.80 per cent.
2. Post Office Time Deposit (POTD)
Post Office also offers time deposit facility from customers like Bank FD. It was one, two, three or five years. The minimum investment amount in this plan is 200 and there is no maximum investment amount. The interest rate in this scheme will be 6..50 to 70.70 percent.
Senior. Senior Citizen Savings Scheme (SCSS)
Senior citizens aged 60 years and above can invest in this scheme to earn regular interest income. The minimum investment in the scheme is Rs.1000 and the maximum is Rs.15 lakhs. It comes over a period of five years. The scheme is currently offering 7.40 per cent interest to its customers.
Su. Sukanya Samridhi Yojana (SSY)
The amount of investment, interest earned and maturity amount are exempted from income tax in all the three quarters. Under this scheme, parents or legal guardians can open an account for a maximum of two girls. The minimum investment in the scheme is Rs.1000 and the maximum is Rs.1.50 lakh. The scheme is currently earning interest at 7.60 per cent.
Post. Post Office Monthly Income Plan (POMIS)
The plan only pays monthly interest payments from investors. The minimum investment limit under this scheme is Rs 10,000 and the maximum investment limit is Rs 50.50 lakh for one account and Rs 1 lakh lakh for joint account. The duration of this scheme is five years. Currently, the interest rate on the scheme is 6.60 per cent.
Kis. Kisan Vikas Patra (KVP)
You can double your investment amount by investing in this investment. In this plan, the interest rate and double the amount of investment is fixed on quarterly basis. The minimum investment in this scheme is one thousand rupees and there is no maximum investment limit. The interest rate on the scheme is currently 6.90 per cent.
Public. Public Provident Fund (PPF)
The PPF also has three income tax deductions: investment amount, interest earned and maturity amount. The lock-in period of this plan is 15 years, but can be partially withdrawn after seven years. The minimum investment amount in this scheme is Rs.500 and the maximum investment amount is Rs.1.50 lakh per annum. The interest rate on the scheme is currently 7.10 per cent.
Post. Post Office RD
The plan is for short-term investments at regular intervals. Investors can open a five-year RD account at the post office. There is no minimum investment of Rs.100 / – and maximum investment in this scheme. The interest rate under this scheme is currently 5.80.
9. Post Office Savings Account
You can also open a savings account at the post office. It is like a savings account opened in a bank. This time the account is earning 4 per cent interest.
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