India Post offers several savings schemes through its vast network of post offices, providing secure and attractive investment options.
### 1. **Post Office Savings Account**
- **Interest Rate**: 4% per annum.
- **Features**: Similar to a savings bank account, providing easy liquidity, cheque facility, and online banking.
### 2. **Post Office Recurring Deposit (RD)**
- **Interest Rate**: 5.8% per annum (compounded quarterly).
- **Tenure**: 5 years.
- **Features**: Monthly deposits can be as low as ₹10, suitable for systematic savings.
### 3. **Post Office Time Deposit (TD)**
- **Interest Rate**:
- 1 year: 6.9% per annum
- 2 years: 7.0% per annum
- 3 years: 7.0% per annum
- 5 years: 7.5% per annum
- **Features**: Fixed deposit with a guaranteed return, different tenures available.
### 4. **Post Office Monthly Income Scheme (MIS)**
- **Interest Rate**: 7.4% per annum (payable monthly).
- **Tenure**: 5 years.
- **Features**: Suitable for those seeking regular monthly income, maximum investment limit of ₹4.5 lakh for a single account and ₹9 lakh for a joint account.
### 5. **Senior Citizens Savings Scheme (SCSS)**
- **Interest Rate**: 8.2% per annum (payable quarterly).
- **Tenure**: 5 years (extendable by 3 years).
- **Eligibility**: Individuals aged 60 years and above.
- **Features**: High interest rate, tax benefits under Section 80C, maximum investment limit of ₹15 lakh.
### 6. **Public Provident Fund (PPF)**
- **Interest Rate**: 7.1% per annum (compounded annually).
- **Tenure**: 15 years (extendable in blocks of 5 years).
- **Features**: Long-term savings with tax benefits under Section 80C, tax-free interest.
### 7. **National Savings Certificate (NSC)**
- **Interest Rate**: 7.7% per annum (compounded annually but payable at maturity).
- **Tenure**: 5 years.
- **Features**: Tax benefits under Section 80C, fixed return.
### 8. **Kisan Vikas Patra (KVP)**
- **Interest Rate**: 7.5% per annum (compounded annually).
- **Maturity**: Doubles in 115 months (9 years and 7 months).
- **Features**: Guaranteed return, no tax benefits, suitable for risk-averse investors.
### 9. **Sukanya Samriddhi Yojana (SSY)**
- **Interest Rate**: 8% per annum (compounded annually).
- **Eligibility**: Girl child below 10 years.
- **Tenure**: 21 years from the date of account opening or until the girl’s marriage after 18 years.
- **Features**: Tax benefits under Section 80C, tax-free interest, promotes savings for girl child’s education and marriage.
### 10. **Post Office Fixed Deposit (FD)**
- **Interest Rate**: Similar to Time Deposit rates.
- **Tenure**: Ranges from 1 to 5 years.
- **Features**: Fixed return, different tenures available, tax benefits under Section 80C for 5-year deposits.
### 11. **Post Office Savings Certificates**
- **Interest Rate**: Various rates, depending on the type of certificate.
- **Features**: Fixed returns, various investment durations, and tax benefits.
These schemes offer safety, reliability, and a range of tenures and interest rates to suit different investment needs and financial goals.
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