Post Office Scheme: If you need to put resources into post office plan, then, at that point, there are many plans in which you can contribute. However, if you need to put lumpsum in a 5-year plot, then you can likewise pick Post Office National Savings Time Deposit or National Savings Certificate Scheme (Post Office nsc). Now which of these two plans is better, we can comprehend it here.
The number of accounts that are opened in Post Office
National Savings Time Deposit and National Savings Scheme account both open in Rs 1000 and can put any sum in it in products of 100. In both the post office plans, from single to three individuals together can open a joint account. Public Savings Time Deposit Account can open Guardian Account for the sake of minor. A minor over the age of 10 years can likewise work the account in his own name.
Who gets how much interest?
As indicated by the authority site, the interest rate for the Post Office National Savings Time Deposit Scheme for a long time is at present 6.7 percent per annum, while the five-year National Savings Scheme additionally has a self multiplying dividends pace of 6.8 percent per annum, however it is accessible on maturity.
Advantage of tax exemption
You can likewise avail Income Tax exclusion on interest in National Savings Certificates. You can likewise take the advantage of area 80C of the Income Tax Act, 1961 under interest in a time deposit of 5 years. You can open quite a few accounts in the Post Office National Savings Time Deposit Scheme.
