Invest in these best schemes of Post Office, investment will be risk free with good income

One can get higher returns from FDs in liquid funds.

One can get higher returns from FDs in liquid funds.

Post Office Saving Scheme: Apart from opening a savings account in the post office, you can also invest in many saving schemes. You will get a good income from this, as well as there will be no tension for the risk.

New Delhi. The government has not made any changes in the interest rates on the Post Office Saving Scheme for the first quarter of the current financial year. The new year has not started yet. In such a situation, if you are doing any new planning, then a special saving scheme of the post office can be beneficial for you. There is also a good income every month through this scheme. Let us tell you everything about these schemes:

National Savings Certificates (NSC)
One can also invest in this scheme in the post office. The National Savings Certificate (NSC) attracts an interest of 6.8% every year on investment. Interest is calculated every year. At the same time, the interest amount is given only after the completion of the investment period. A minimum investment of one thousand rupees can be made in this scheme. There is no maximum investment limit in the scheme. The total investment period under the Post Office’s NSC scheme is 5 years. According to India Post, under this scheme the account is opened with at least 100 rupees.

Also read: Make money in this scheme of Post office doubled, 4 lakhs of 2 lakhs will be available on maturityPost Office Time Deposit (POTD)

Like the bank, you can also FD in the post office. This scheme is available in the name of time deposit in the post office, in which you can deposit money for 1 year, 2 years, 3 years and 5 years. The advantage is that here the interest rate on FD is higher than the bank. Under the post office time deposit, 6.7 percent interest is being accrued annually on 5-year deposits. There is a benefit of tax exemption under section 80C on a five-year time deposit. Post office fixed deposit account can also be opened by person through cash or check.

Kisan Vikas Patra (KVP)
If you want to double the amount of your investment, then KVP is the right choice. As far as the interest rates of other small savings schemes are concerned, the government reviews them every quarter. When the money invested in this way will double, it depends on the interest rates. The interest rate for KVP has been fixed at 6.9 per cent in the first quarter of FY 2021. Yes, your investment will double in 124 months. If you invest 1 lakh rupees outright, then you will get 2 lakh rupees on maturity. 124 months is the maturity period of this scheme. This scheme is not covered under the Income Tax Act 80C. Therefore, whatever returns will come, there will be tax. TDS is not deducted in this scheme.

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