This scheme of Post Office gives more returns than the bank’s FD, the money becomes double in a few years
This scheme started by the post office gives great benefits to the people. In this scheme, you are given 6.8 percent interest on investment for five years. Whereas on five years investment in bank FD, you are given an interest of 5.80%.
If you are thinking of investing and want to build more funds along with safety, then you can invest in post office small savings schemes. Here you are also given more returns than bank schemes. Also the risk rate is also negligible. You are also given tax exemption on investment in these schemes. Also death benefit is also given, apart from this you can also make a good profit by investing regularly in it. Let us know about the post office’s NSC (National Saving Certificate), which gives more returns than the bank’s FD.
NSC Scheme of Post Office
This scheme started by the post office gives great benefits to the people. In this scheme, you are given 6.8 percent interest on investment for five years. Whereas on five years investment in bank FD, you are given an interest of 5.80%. That is, in the NSC scheme, one percent interest benefit is being received from the bank. Talking about this scheme, any Indian citizen can open it. However, if an NRI also wants to invest, he can still invest in it.
This scheme for taking loan and also for children
This scheme of post office can also be opened by children below the age of 18 years. But for this the documents of their parents are required. You can also take a loan on it, which is determined on the amount invested by you.
read also: This change in the rules regarding Aadhar Card! If you do not know, you can be deprived of benefits
Salient features of this scheme
- Investment in this is exempted under section 80C of the Income Tax Act.
- You can invest as much as you want, there is no maximum investment limit.
- The interest rates for NSCs vary according to their maturity period.
In how many years will the money double?
The rate of interest on the National Savings Certificate of the post office is decided by the government. Minimum Rs 1000 can be invested in NSC and if you invest Rs 1000 on maturity after 5 years you get Rs 1389. That is, if you calculate on this basis, then with an annual interest of 6.8%, your money will double in about 126 months. You can invest as much money as you want in this. However, tax exemption is given only on investments up to a maximum of Rs 1.50 lakh.
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