Post Office Scheme is a Good Money Saving Scheme with More Interest than FD

Post Office Scheme: Post offices provide small savings schemes which as the National Savings Certificate and these are quite popular schemes among the common people. The best advantage of investing in such schemes is that the money remains secure and safe. Moreover, the returns are very high in such schemes.

Post Office Scheme

The small savings schemes which are provided by the post office are very popular among the common people. By investing in such schemes one of the biggest advantages is that the money remains safe and the returns are also very high. National Savings Certificate (NSC) is one such scheme.

The government runs the National Savings Certificate (NSC) scheme. The government revises its interest rate every quarter. (Post Office Scheme)

7.7% interest is being given in such NSC schemes by the government. There are great advantages of investing in such schemes as in such schemes along with good returns, there is also the benefit of income tax exemption. If there is an investment of up to Rs.1.5 lakhs in a financial year, then a person can get an exemption under Section 80C of Income Tax. (Post Office Scheme)

Post Office Money Saving Scheme

As an interesting fact, the National Savings Certificate (NSC) has a total lock-in period of 5 years. If there is a closure of NSC within one year of account opening then there is no interest paid. Only the investment amount will be paid. (Post Office Scheme)

A total of 7.7 percent interest is being given on National Savings Certificate (NSC) scheme. The interest rate on a 5-year tax saving FD at the same time in the bank is 7 to 7.5 percent. If it is seen in this manner that the tax-saving FD is getting more interest than bank FD.

There is a minimum amount of Rs.1000 with which a person can start investing in NSC. Moreover, there is also no limit regarding maximum investment. There can be offline and online investment in NSC. If there is a requirement for offline investment then a person is required to go to the nearest post office and he can then invest online through the website of the post office. (Post Office Scheme)

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