If you are an investor who wants to grow your money while keeping it safe, Post Office Small Savings Schemes are the best option for you. These schemes not only offer guaranteed returns, but also offer 7% to 8% interest on your investment. Let’s know about these plans in detail…
Public Provident Fund (PPF)
PPF is one of the most popular schemes, it offers 7.1% interest per annum, which increases according to compounding. You can invest between ₹500 to ₹1.50 lakh in this scheme. Deposits can be made in lump sum or in installments. This account matures after 15 years.
Sukanya Samriddhi Account
Sukanya Samriddhi Account offers 8.2% interest per annum from January 1, 2024. You can invest between ₹250 to ₹1.50 lakh in a financial year. There is no limit to the number of times a deposit can be made. The account matures after 21 years of opening and is an ideal plan for a daughter’s provident fund.
Kisan Vikas Patra (KVP)
Kisan Vikas Patra offers interest at 7.5% compounded annually. The invested amount doubles in approximately 9 years and 7 months. This has a minimum investment of ₹1,000 and no maximum limit.
Women’s Honor Savings Certificate
The scheme offers 7.5% interest per annum, compounded every three months. You can invest from ₹1,000 to ₹2,00,000. Your balance is ready for return after two years of account opening.
National Savings Certificate (NSC)
NSC offers 7.7% interest per annum, payable on maturity. There is no maximum investment limit in this. The term of deposit is five years.
National Savings Time Deposit (TD)
The interest rate available in this scheme ranges from 6.9% to 7.5%. You can invest for 1 year, 2 years, 3 years or 5 years as per your convenience. There is no maximum investment limit in this.
Senior Citizen Savings Scheme (SCSS)
This scheme is for senior citizens. This earns 8.2% interest per annum. You can invest from ₹1,000 to ₹30 lakh. The account matures after 5 years and if extended, returns are available after each subsequent block of three years.