In the midst of a negative offer market, some might feel a little wary about in financial planning value connected plans. For such individuals, putting resources into the Post Office Small Savings Scheme can be a decent choice which likewise gives more significant yields in the long haul.
We will let you know three saving plan of the Post Office that offers ensured returns. These plans accompany a lock-in of five years with the exception of the Time Deposit (TD) conspire.
Putting cash in these post office saving plans has many advantages
5-Year Post Office Recurring Deposit Account (RD)
An interest rate of 5.8 % per annum can be acquired through this on least deposits of Rs 100 every month.
There is no maximum limit. The interest rate accumulated quarterly.
Post office Time Deposit Account (TD)
This plan is a sort of FD from the post office. Under this plan, you can set aside payments in the post office for one, two, three or five years.
The interest rate is 5.5% each on a 1-year, 2-year, and 3-year time deposit. While the rate is 6.7% on a 5-year time deposit. There is likewise a tax break of Rs 1.5 lakh under segment 80C of the IT Act for a 5-year TD.
Under this plan, you can open an account with a minimum deposit of Rs 1000. You can put however much you need in products of 100. There is no maximum limit for speculation.
National Savings Certificates (NSC)
This plan accompanies a lock-in time of 5 years. The interest rate is 6.8%. You can contribute at least Rs 1,000 and there is no maximum limit.
Deposits under the plan fit the bill for the advantages under segment 80C of the IT Act.
This plan permits you to withdraw your cash solely after the consummation of 5 years secure in period. In any case, under certain circumstances, you can withdraw the ventures rashly.
