Post, Office, Saving, Scheme, Schemes, NSC, KVP, MIP, PPF, National Savings Certificate, Kisan Vikas Patra, Monthly Income Plan
Post office savings schemes are best suited for conservative investors. These schemes are risk free as they are backed by Government of India. Post office schemes provide security of capital and interest thereon. There are a variety of investment schemes available with the Post Office. Some of the schemes do provide Tax benefits as well.
Post Office schemes are added to derisk and diversify the portfolio. We help you invest in the following schemes:
Monthly Income Scheme (MIS)
This scheme provides monthly income to the investor on investment of a one-time lumpsum amount. It gives an annual interest of 8%.
Kisan Vikas Patra (KVP)
This scheme doubles the investment in 8 years and 7 months. It gives an interest of 8.4% compounded annually. It also allows premature withdrawal.
National Savings Certificate (NSC)
This scheme invests the money for a period of 6 years and gives an interest of 8% compounded half-yearly. It also provides tax benefit under sec 80 C of Income Tax Act 1961.
Time Deposit
Similar to Bank Fixed Deposit, it provides an annual interest rate of between 6.25-7% compounded quarterly.
Recurring Deposit Scheme
This scheme allows investors to invest a fixed sum of money every month for a period of 5 years. The interest paid is 7.5% per annum compounded quarterly.
Public Provident Fund (PPF)
PPF has a lockin of 15 years and the interest is paid at 8%. This scheme is also eligible for tax benefits under sec 80C of Income Tax Act 1961.
Senior Citizens Saving Scheme
This scheme is available for citizens above 60 years of age. The interest offered is 9% per annum and has a lock-in of 1 year.
 |
|