Post Office Schemes to Double the Money:- The Post Office Saving Schemes in India Includes that reliability and risk-free returns on Postal Investment. Those schemes are run by the Central Government of India associated with PLI (Postal Life Insurance). PLI Invites the public to Low Premium High Bonus. Indian Postal Services Served via 1.54 lakh post office across India. PPF is operated via 8200 public sector banks in addition to the post offices in every city. The public is very interested in investing money in postal schemes. Before going to investing you have to know New Interest Rates on Post Office Schemes.
Indian postal services invite the public to invest in Post Office Schemes for the boy child. and Post Office Saving Scheme for the girl child. Better to invest in the Post Office scheme to double the money. The investor needs to have post office savings account for enjoying the benefits of the post offices of schemes.
Post Office Schemes & New Interest Rates on Post Office Schemes
Department of Post DOP has been the backbone of the country’s communication and played a crucial role in the development. It serving in Delivering mails, accepting deposits under small savings schemes. It providing life insurance cover under Postal Life Insurance PLI and Rural Postal Life Insurance RPLI. DOP Department of Postal Services has the most widely distributed postal network in the world.
Indian Postal Services will be the customer’s first choice. Providing services for 150 Years. Indian Postal Services is the largest postal network in the world. India Posts provide mail parcel, money transfer, banking, insurance, and retail services with high speed. Indian Postal services are value for a money basis. The Department is being responsive and reliable with Integrity, Honesty, transparency, and professionalism. Department of Post services discharging our responsibilities on the society in an environment of deep trust, Mutual respect, and a culture of service before self.
Post Office Saving Schemes
- Post Office Savings Account
- National Savings Recurring Deposit Account
- Download National Savings Time Deposit Account
- National Savings Monthly Income Account
- Senior Citizens Savings Schemes Account
- Public Provident Fund Account
- Kisan Vikas Patra Account
- National Savings Certificates Account
- Sukanya Samriddhi Account.
Post Office Savings Account
- 4.0% P.A Interest rate on Individual/ Joint Accounts
- The minimum Amount for an opening account is Rs.20/-
- Maintain Minimum Rs 500/- for an account.
- Interested Earned is Tax-free up to Rs 10,000/- P.A for the financial year
- The account can be opened in the name of the minor.
- Interest Earned is Tax-free up to Rs. 10,000 Per Year from the financial year 2012-2013
- A joint account can be opened by two or three majors
- ATM Facility is available.
National Savings Recurring Deposit Account
- Minimum Amount for an opening account id Rs. 10/-
- as on 01/01/2019 the Interest rates 7.3% P.A
- An account can be opened in the name of a minor
- An Account can be opened in any post of office
- There is a rebate on advance deposit of at least six installments
- A single account can be converted into a Joint account
National Savings Time Deposit Accounts.
- Interest Payable annually but calculated quarterly.
- Minimum Rs. 200/- for an opening account
- Interest Rate
|1 yr. Ac||7.0%|
|2 yr. Ac||7.0%|
|3 yr. Ac||7.0%|
|5 yr. Ac||7.8%|
- One person can open only one account
- An account can be open at any post office
- An account can be transferred into one post office to another
- The Investment under 5 years qualifies for the benefit of section 80C of the Income Tax Act 1961.
National Savings Monthly Income Account (MIS)
- Minimum Amount for Opening an Account Rs. 1500/-
- The maximum investment limit is Rs. 4.5 lakhs in single account & Rs. 9 lakhs for joint account.
- The interest rate is 7.3% PA
- The maturity period is 5 years
- All Joint account holders have an equal share in each joint account
Senior Citizen Savings Scheme (SCSS)
- There Shall be only deposited in the account in multiple of Rs. 1000/-
- Maximum not exceeding Rs. 15 lakh
- The Interest Rate is 8.7% per annum
- An Individual of the age of 60 years or more open the account
- Maturity Period 5 years
- TDS is deducted at source on interest if the interest amount is more than Rs. 10,000 PA
- Investment amount qualifies under the Sec 80C of the Income Tax Act 1961.
Public Provident Fund Account
- Minimum Rs. 500/- and Maximum Rs. 1,50,000 in a financial year
- The interest rate is 8% PA
- Deposits can be made in lump- sum or in 12 installment
- Interest is completely tax-free
- loan facility available from 3rd financial year
- Deposits qualify for deduction from income under Sec. 80C of IT Act
- Maturity period is 15 Years
- Premature Closure is not allowed before 15 Years
National Savings Certificates Account
- Minimum Rs. 100/- for the ing of account
- 5 years national savings certificate
- 8% Compounded annually but payable at maturity
- A single holder type certificate can be purchased by, an adult for himself.
- Deposits can qualify for tax rebate under Sec 80C of the IT Act
Kisan Vikas Patra KVP
- Minimum of Rs. 1000/-
- Interest rates as 7.7% compounded annually
- Amount invested double in 9 years& 4 Months
- KVP can be purchased from any departmental post office
- certificates can be cash after 2& 1/2 years from the date of issue
- The facility of Nomination is available
Sukanya Samriddhi Accounts
- The minimum amount for opening an account Rs. 1000/-
- The maximum amount for opening an account Rs. 1,50,000
- Rate of Interest 8.5% PA
- A legal guardian/ Natural guardian can open an account in the name of a girl child
- A guardian can open only two accounts in the different names of two girl child
- If a Minimum of Rs 1000/- is not deposited in a financial year account will become discontinued and a penalty of Rs 50/- Per year
- Partial withdrawal, maximum up to 50% of Balance preceding financial year can be taken after 18 years of the child
- The account can be closed after the completion of 21 years.