At present, it is common for common people to invest in different schemes. But you should invest in such a way that you get great returns and this can happen exclusively.
Nowadays everyone wants to invest something or the other to secure their future and increase their bank balance. There are various schemes in which one can invest and get very good returns. Government organization India Post has many investment schemes which not only help an individual to save but also get some benefits in terms of income tax. Notably, Public Provident Fund (PPF), Post Office Time Deposit Account (TD), National Savings Certificate (NSC), Sukanya Samriddhi Yojana (SSY), and Senior Citizen Savings Scheme (SCSS) offer several tax exemptions.
Public Provident Fund (PPF)
This scheme enables an investor to save money and the same is paid on maturity along with interest. PPF gives you an annual compound interest rate of 7.1 percent and also the amount deposited in the scheme is eligible for tax exemption under section 80C of the Income Tax Act.
Post Office Fixed Deposit Account (TD)
This is a very popular scheme that can be used by everyone, especially in rural and remote areas of India where banks and investment options are few. Under this scheme, one can start investing with as little as Rs.1000. This scheme also gives tax exemption under section 80C of the Income Tax Act.
Sukanya Samriddhi Yojana (SSY)
This is a small savings scheme for the daughters of the country and parents can open an account in the name of their daughter below 10 years of age. When she turns 18, she becomes the owner of the account. Multiple accounts can be opened if parents have more than one daughter. It offers an interest rate of 8 percent and the minimum deposit amount initially is Rs.250 and the maximum deposit limit is Rs.1,50,000.
Senior Citizen Savings Scheme (SCSS)
People above 60 years of age can invest in this scheme. The minimum limit is Rs 1,000 and the maximum limit is Rs 15 lakh. The scheme is for five years and can be availed for an additional three years after the amount matures. It offers an annual interest rate of 8 percent and it also gives tax exemption like other schemes.
National Savings Certificate (NSC)
This is a fixed income investment scheme with a maturity period of 5 years. There is no limit on the maximum investment and investment can be started by depositing Rs.100.
