Post office offers bumper interest up to 8.2 percent on 6 schemes with tax benefits
New Delhi (The Uttam Hindu): If you want to earn great returns while keeping your money safe, then Post Office savings schemes can be a great option for you. These schemes not only guarantee government protection on your investment, but also provide attractive interest ranging from 7.5% to 8.2% and the double benefit of tax exemption. Let us know about six such superhit schemes of Post Office-
1. Post Office Fixed Deposit (FD)
This scheme offers investment options for 1, 2, 3 and 5 years. On a 5-year FD, you get an interest of 7.5% and also get the benefit of tax exemption under section 80C of Income Tax. This is an ideal option for those looking for fixed returns.
2. Mahila Samman Savings Certificate
This scheme, specially designed for women, can be invested in for 2 years, which has an interest rate of 7.5%. A minimum of Rs 1,000 to a maximum of Rs 2 lakh can be deposited in it. It is important to note that this scheme is available only till March 31, 2025.
3. National Savings Certificate (NSC)
This scheme with a tenure of 5 years offers an interest rate of 7.7%, which gets added annually (compounding). Investment in NSC also offers the benefit of tax exemption, which makes it even more attractive.
4. Senior Citizen Savings Scheme (SCSS)
This is one of the best schemes for citizens aged 60 years or above. It offers a high interest rate of 8.2% on investment for 5 years. A maximum of Rs 30 lakh can be invested in this scheme and interest is paid every quarter, ensuring regular income.
5. Sukanya Samriddhi Yojana (SSY)
This is a great scheme for the bright future of daughters, on which 8.2% interest is available. In this, a minimum of Rs 250 to a maximum of Rs 1.5 lakh can be deposited annually. Investment has to be made for 15 years and the account matures in 21 years.
6. Kisan Vikas Patra (KVP)
If you want to double your investment then KVP is for you. This scheme doubles your money in 115 months (about 9 years 7 months). It gives an interest of 7.5% and one can start investing in it with a minimum of Rs 1,000.