Overview :
Investment in post office. As here you will know how we can earn a good returns through post office schemes.
Information :
As per the traditional ways post office is known for the delivery system. But as per the changing financial condition of our country. Many new things as discover. As we can make in post office schemes. As the post offices are owned by the government so indirectly the post office schemes are discovered by the government for the welfare of the people. This post office similarly work as bank also where here you can open your saving account also and invest in many more schemes.
How it actually works:
You can open your saving a/c and have a minimum balance of 500. Then you can deposit your regularly savings and also get the saving benefit at the interest rate of 4%. As you can transferred you saving account money for post office schemes. In short you can treat as your bank
Pros:
Good returns.
Safe and secure.
Attract deposit and saving plans.
Cons:
Fixed returns is may be the disadvantages.
Lesser liquidation.
Not flexible.
Practical investment
Post office fixed deposit :-
Here you invest for 1-3 years or for 5 years .The minimum investment is 1000 rs. The interest will be quarterly compounded. Under this you can enjoy the tax benefit also. The premature is of 6 months. The interest rate for 1-3 year is 6.9% and for 5year is 7.7%.
National Saving Certificate :
Here you can invest for 5 years and the minimum investment is 1000 rs. The interest rate is 7.9% and it will be annually compounded. Here you will get the tax benefit also.
Kisan vikas patra :
The investment is minimum from 1000 rs. In this scheme your invested amount get double. The interest rate is of 7.6%. The premature is of 2 year. The tenure to double up the investment will be of 9year 5 months.
Senior citizen savings ng scheme :
The tenure for this investment is of 5 year. Here the minimum investment is of 1000 and the maximum is of 15 lakh. The premature withdrawal is of 1 year. As the interest is paid every quarterly. Here also you will get the tax benefit. The interest rate is 8.6%.
Monthly income scheme :
The tenure for this investment is of 5 years. The minimum investment is of 1000 and the maximum is of 4.5 lakh. The interest will be paid monthly and the interest rate is 7.6%. The premature withdrawal is of 1 year.
Post office recurring deposit :
The tenure for this investment is of 5 year. The minimum amount is of 100 per month. If the payment get default them the fees will be 1 rs for every payment. The premature withdrawal is of 1 year. The interest rate is 7.2%.
Public provident fund :
The tenure for this return is of 15 year. Minimum investment is of rs 500 p.a and the maximum rs. 15 lakh. Premature withdrawal at 1% reduction in interested rate. You will enjoy the tax benefit also. The advantage of this investment is that it is not attached under court decree. The interest rate is 7.9%.
Sukanya samridhi yojana:
This investment is only for the girls. Only those people can invest who have 10 year old daughter. They can invest 250 and maximum as 1.5 lakh. In default of payment you will charge 50 rs per year. The tenure for this investment is of 15 years but you will get the amount after 21 year with interest. Premature withdrawal is of 18 year. Here you will get tax benefit also. The interest rate is 8.4%. As there many more attractive saving schemes and deposit schemes.Before investing just visit the post office and get the clear details.
CONCLUSION :
This investment will be like investment in banks FD plans but there are comparatively more attractive plans of investing.
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