How many Post Office schemes are there in India?
Table of Contents
How many Post Office schemes are there in India?
Comparison of Post Office Tax Savings Schemes
| Names of PO Tax saving Schemes | Interest Rate | Min Tenure |
|---|---|---|
| National Savings Monthly Income Account | 6.6% p.a | 5 years |
| Senior Citizen Savings Scheme Account | 7.4% p.a | 5 years |
| Public Provident Fund Account | 7.1% p.a | 15 years |
| Sukanya Samriddhi Account | 7.6% p.a | 21 years |
Can I double my money in 5 years in Post Office?
Post Office Time Deposit A one-year to three-year Post Office Time Deposit (TD) now pays 5.5 percent interest. Your money will double in around 13 years if you invest in this. Similarly, a 5-year time deposit pays 6.7 percent interest. If you invest your money at this pace, your money will double in around 10.75 years.
What is the interest of 1 lakh in Post Office for 5 years?
Post Office FD Returns Based on Investment Amount
| Investment Amount | For 3 years with interest of 5.5% | For 5 years with interest of 6.7% |
|---|---|---|
| ₹ 50,000 | ₹58947 | ₹69832 |
| ₹ 1 lakh | ₹117895 | ₹139664 |
| ₹ 2 lakh | ₹235790 | ₹279328 |
| ₹ 5 lakh | ₹589474 | ₹698319 |
Which is best investment plan in Post Office?
Post Office Savings Account(SB)
Which scheme has highest interest rate?
There are some savings schemes offered by the government, financial companies, and banks to encourage investors to invest more and earn high returns….Best Saving Plans.
| Savings Plans | Current Interest Rate |
|---|---|
| Recurring Deposits | 6-7% |
| Post Office Monthly Income Scheme (MIS) | 6.6% |
| Public Provident Fund (PPF) | 7.1% |
| KVP (Kisan Vikas Patra) | 7.6% |
What is Post Office Monthly income Scheme?
The Post Office Monthly Income Scheme assures investors fixed returns at the rate at which their money was initially invested. This means that investors do not need to be concerned about fluctuating interest rates, even if they are reduced at a later time.
Is Kisan Vikas Patra safe?
Kisan Vikas Patra (KVP) is a popular and safe small-savings instrument that doubles the invested money in 10 years and four months at the current rate. This scheme is backed by the government.
What is the interest of 60000 in post office?
RD Formula The investment amount is INR 60,000. The interest earned is INR 9,697.
Which is better MIS or Kisan Vikas Patra?
A KVP is thus recommended only if the investor can afford to stay invested till its maturity, otherwise, it is beneficial to choose either the MIS or NSC. As the name suggests, this scheme is designed to provide a monthly income for the investors.
What is best monthly saving scheme?
Atal pension This is another tax-free scheme designed for people from the low-income group. Investors of 60 and above years can opt for a fixed pension of up to Rs. 5,000. It also provides a pension for retirees, along with benefits at the cost of a contribution per month.
Which scheme is best?
Some of the best savings schemes for investment are:
- National Saving Certificate.
- National Savings Scheme.
- Public Provident Fund.
- Post Office Saving Scheme.
- Senior Citizen Savings Scheme (SCSS)
- Kisan Vikas Patra (KVP)
- Sukanya Samriddhi Yojana(SSY)
- Atal Pension Yojana.
What is post office MIS 2021 interest?
Capital protection is its primary objective. For the quarter ending 30 September 2021, the interest rate is 6.6% per annum, payable monthly. For instance, Mr Sharma has invested Rs. 4.5 lakh in the post office monthly investment scheme for 5 years.
Which is best monthly income scheme?
6 Best Monthly Income Schemes In India
- Fixed Deposit. Undoubtedly one of the best and most low-risk income schemes is a bank Fixed Deposit (FD).
- Post Office Monthly Income Scheme (POMIS)
- Long-term Government Bond.
- Corporate Deposits.
- SWP from Mutual Funds.
- Senior Citizen Saving Scheme.
How can I double my money in 1 year?
Here are some options to double your money:
- Tax-free Bonds. Initially tax- free bonds were issued only in specific periods.
- Kisan Vikas Patra (KVP)
- Corporate Deposits/Non-Convertible Debentures (NCD)
- National Savings Certificates.
- Bank Fixed Deposits.
- Public Provident Fund (PPF)
- Mutual Funds (MFs)
- Gold ETFs.
What is better NSC or KVP?
Both NSC and KVP are schemes promoted by Government of India to help individuals save their money. NSC, known as National Saving Certificate, is a savings instrument that offers the benefit of Investing as well as tax Deduction. On the contrary, Kisan Vikas Patra (KVP) does not offer benefits of tax deduction.
