Post Office Scheme: Post Office is running many such schemes in which investors get guaranteed returns. Post office schemes have the least risk
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The post office is running many such schemes in which investors get guaranteed returns. Post office schemes have the least risk. If you are also looking for an option with higher returns to save tax, then you can invest in Post Office National Savings Scheme (NSC). Let’s know its benefits and how much interest is being received on them..
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One can invest money in Post Office National Savings Certificates in multiples of Rs 100. There is no maximum limit for investment in this. At present, the interest rate on this scheme is 6.8 percent per annum. Every year the investor does not get interest while it gets added to the principal. You can invest in this scheme for 5 years.
Your money i.e. investment in National Savings Certificates will double in 10 years 6 months. In this scheme, if you make a total investment of Rs 1000 for 5 years, then you will get Rs 1389 on maturity.
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Get tax exemption
Investments in this post office scheme get tax exemption under section 80C of income tax by investing up to Rs 1.5 lakh every year. In case of taxable income, money is deducted from the total income. After investing once in this scheme, you cannot withdraw this money before 5 years.
Indigo is charging small tax with only Rs 50 and Rs 100 from anyone.
Know who can invest?
You must be at least 10 years old to invest in this scheme. Through National Savings Certificates, one can invest in either joint or single mode. When opening an account of a child below the age of 10 years, his parents will take care of him. Between 10 and 18, the account will be in the form of a minor. After 18, the account will be converted to an adult account. Under this scheme, a joint account can be opened in the name of three people.
