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Post Office Schemes: From Kisan Vikas Patra to NSE, try these government schemes to double your money
There are various small-savings schemes that the Post Office offers, including the Public Provident Fund (PPF), Sukanya Samriddhi Yojana (SSY), National Savings Certificate (NSC), Kisan Vikas Patra, Post Office Monthly Income Scheme, Senior Citizen Savings Scheme (SCSS), and others.
Updated : Jul 29, 2023, 02:36 PM IST
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India Post offers a variety of post office savings plans that offer safe investments and returns. There are a variety of risk-free investing opportunities available in all of India's post offices.
The scheme includes - Public Provident Fund (PPF), Sukanya Samriddhi Yojana (SSY), National Savings Certificate (NSC), Post Office Time Deposit, Kisan Vikas Patra (KVP) and Senior Citizen Savings Scheme (SCSS) among others. The government keeps revising the interest rates on a quarterly basis. Sukanya Samriddhi Yojana (SSY) and Senior Citizen Savings Scheme (SCSS) offer an interest rate of more than 8% on these deposits.
Kisan Vikas Patra (KVP): This scheme doubles the investor’s money in 10 years and three months at an interest rate of 7.5% yearly. People over the age of 18 are eligible to invest under this programme, and the minimum investment is Rs 10,000.
Sukanya Samriddhi Yojana: This scheme offers a remarkable 8% yearly interest rate on deposits. An account can be opened for a girl kid up to the age of ten.
Senior Citizen Savings Scheme (SCSS): Interested candidates aged 60 years or above can open an account at the post office and benefit from a robust 8.2 percent interest rate on their deposits.
National Savings Scheme: Investors can take advantage of the National Savings Scheme's alluring interest rate of 7.7%. This scheme allows for minimum deposits of Rs 100 and maximum investments of Rs 1.5 lakh.
Post Office Time Deposit Scheme: Investors have the option of allocating money for terms of 1, 2, 3, or 5 years. Notably, the post office offers a 5-year time deposit with a significant 7.5 percent interest rate.
5-Year Post Office Recurring Deposit Account (RD): The current 5-year programme interest rate for both individual and joint accounts is 6.20% annually.
