Earn double interest from FD! These 8 post office schemes are giving a lot of money!

(caption id=”” align=”alignnone” width=”1200″) Whether you work or run your own business, it is very important to save a little money and invest it in the right place. Even today, most people invest money in bank FD, but now the interest on bank FD is only 6-7%. In such a situation, small savings schemes of post office are better because here the interest is above 7% which is much higher than the FD rates of banks and tax exemption is also available.

Post Office’s Kisan Vikas Patra (KVP) offers a very safe and guaranteed scheme, which currently offers 7.5% annual interest and that too is compounded. The special thing is that in this, your money automatically doubles in just 115 months (about 9 years and 7 months), that is, if you invest 10 thousand, you will get 20 thousand on maturity. The entire money remains safe with government guarantee. There is no market risk in this, so there is no question of losing your money.

(caption id=”” align=”alignnone” width=”1200″) Senior Citizen Savings Scheme (SCSS) is a government scheme for retired people and senior citizens above 60 years of age, which currently offers 8.2% annual interest. In this, interest on the deposited money comes directly into the bank account every three months, which becomes a good source of regular income after retirement. You can invest a maximum of Rs 15 lakh, but husband and wife can increase the amount up to Rs 30 lakh by opening an account together. It is completely safe, available in banks or post offices, you get guaranteed income without any risk.

Post Office Monthly Income Scheme (MIS) is best for those people who want fixed income every month by keeping their money completely safe. Currently, it gives 7.4% annual interest and this interest comes directly into your bank account every month, for example, if you invest Rs 1 lakh, you will get around Rs 620 every month. You can start with a minimum of Rs 1000, and can invest a maximum of Rs 9 lakh (single) or Rs 15 lakh (joint account).

Post Office’s 2-year time deposit scheme is exactly like bank FD, currently the interest is around 7% which is compounded every 3 months. If you invest Rs 1 lakh, you will get interest of around Rs 7,200 after 2 years. Money remains completely safe, the government gives guarantee. You can withdraw the money midway but the interest will be reduced slightly.

Mahila Samman Savings Certificate is a special post office scheme opened only in the name of girls and women. It is only 2 years old and currently offers 7.5% interest which is compounded every 3 months. For example, if you invest Rs 10,000, you will get around Rs 11,600 after 2 years. You can spend a maximum of Rs 2 lakh. If you want good and completely safe returns in the short term for your daughter-in-law and daughter-in-law, then this scheme is the best.

Sukanya Samriddhi Yojana is a government scheme to open in the name of your daughter. Currently it offers a hefty interest of 8.2%. This continues till the daughter turns 21 or gets married. The best thing is that the more money you invest, the more interest will be earned and it is 100% tax free. There is no market risk in this, so the money remains completely safe.

Post Office’s National Savings Certificate (NSC) is a very safe scheme, currently it gives 7.7% annual interest which keeps compounding. That means if you invest Rs 10,000, you will get around Rs 14,500 after 5 years. Tax exemption up to Rs 1.5 lakh is also available in Section 80C, although the interest is taxable. In this the money remains locked for 5 years.

You can start with just Rs 100 every month in the Post Office RD scheme. There is no limit on investment in this. Currently, it offers 6.8% interest and it is charged in a compound manner, that is, the interest continues to accrue on interest. This easily generates amazing returns. You can open the account in single name or in joint name of husband and wife.