New Delhi, Business Desk. The post office offers various deposit plans from customers. They are also known as small savings plans. These plans are known for safe, good and guaranteed returns. What is important is that these schemes are supported by the central government. Some of these schemes are also exempt from income tax under Section C0C of the Indian Income Tax Act. The interest rate on these deposit schemes is fixed by the government every three months. Let us know about the current interest rates on these deposit schemes.
1. National Savings Certificate
The plan has a lock-in period of five years. The scheme also provides income tax exemption under Section C0C. There is no minimum investment of Rs 100 and maximum investment in this scheme. The scheme is currently providing 80.80 percent interest rate.
2. Post Office Time Deposit (POTD)
Post Office also collects time savings from customers like FDD. It lasts for one, two, three or five years. The minimum investment amount in this scheme is not more than 200 and the maximum investment amount is not. The interest in this scheme is being received at the rate of 5.50 to 70.70 percent.
Senior. Senior Citizen Savings Scheme (SCSS)
Interest Senior citizens aged 0 years and above can invest in this scheme to earn regular interest income. The minimum investment amount in this scheme is Rs. 1,000 and the maximum investment amount is Rs. 1.5 million. It comes with a five-year lock-in period. Currently the scheme is paying customers.40 per cent interest.
Su. Sukanya Samridhi Yojana (SSY)
In this scheme, investment amount, interest earned and maturity amount are exempted from income tax. Under this scheme, a parent or legal guardian can open an account for a maximum of two daughters. The minimum investment amount in this scheme is Rs 1,000 and the maximum investment amount is Rs 1.50 lakh. The scheme is currently earning interest at the rate of 7.60 per cent.
Post. Post Office Monthly Income Plan (POMIS)
The plan provides monthly interest payments only from investors. The minimum investment limit in this scheme is Rs. 1,500 and the maximum investment limit is Rs. 4,500,000 for a single account and Rs. The maturity period of this scheme is five years. The scheme currently has an interest rate of 60%.
Kis. Kisan Vikas Patra (KVP)
By investing in this investment option, you can double your investment amount. The government has fixed double rate of interest and investment in this scheme on quarterly basis. The minimum investment amount in this scheme is Rs.1000 and there is no limit on the maximum investment amount. The interest rate of this scheme is currently 6.90 percent.
Public. Public Provident Fund (PPF)
Even in PPF, investment amount, interest earned and maturity amount are three income tax exemptions. The plan has a lock-in period of 1 lock year, but can be partially withdrawn after seven years. The minimum investment amount in this scheme is Rs. 50,000 and the maximum investment amount is Rs. Rs0 lakh. The interest rate of this scheme is currently 7.10 percent.
Post. Post Office RD (RD)
This plan is designed to invest a small amount at regular intervals. Investors can open a five-year RD account at the post office. There is no minimum investment of Rs 10 and maximum investment amount in this scheme. The interest rate on this scheme is currently 5.80.
Post. Post Office Savings Account
You can open a savings account at the post office. This is similar to a savings account opened in a bank. At the moment this account is getting percent interest.
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