In a relief, the government has kept the interest rates of small savings schemes unchanged for the September quarter. Post Office runs many savings schemes and the most important thing about these schemes is that there is a guarantee from the government. That is, your money will be safe.
We are going to tell you about some post office savings schemes. We will tell you how much time it will take for your money to double that if you invest money in these schemes.
1. Post Office Time Deposit
Post Office Time Deposit (TD) of 1 year to 3 years is currently getting an interest of 5.5%. If you invest in this, your money will double in about 13 years. Similarly, you are getting an interest of 6.7% on a time deposit of 5 years. If money is invested with this interest rate, then your money will double in about 10.75 years.
2. Post Office Savings Bank Account
If you keep your money in a post office savings account, then you may have to wait a long time for the money to double. Because it gives interest only at 4.0 percent annually, that is, your money will double in 18 years.
3. Post Office Monthly Income Scheme
Post Office Monthly Income Scheme (MIS) is currently getting an interest of 6.6%, if money is invested at this interest rate, it will double in about 10.91 years.
4. Post Office Senior Citizens Savings Scheme
Post Office Senior Citizen Saving Scheme (SCSS) is currently being given an interest of 7.4%. Your money will double in this scheme in about 9.73 years.
5. Post Office PPF
The 15-year Public Provident Fund (PPF) of the Post Office is currently getting an interest of 7.1%. That is, it will take about 10.14 years to double your money at this rate.
6. Post Office Sukanya Samriddhi Account
The Sukanya Samriddhi account scheme is currently getting the highest interest of 7.6%. In this scheme being run for girls, it will take about 9.47 years to double the money.
