Post Office Small Saving Scheme: There are many small saving schemes for investors in the post office. Better returns are given by the government on these small savings schemes. If you want to benefit from your savings through safe investment option, then these post office schemes are better.
Small savings schemes like Fixed Deposit, Recurring Deposit, Monthly Income Deposit, Senior Citizen Saving Scheme, PPF Sukanya Samriddhi, National Saving Certificate, Kisan Vikas Patra, Mahila Samman Saving Certificate are available with the post office. In these schemes, interest between 6.7 percent to 8.2 percent has been offered on the investment amount. Let us know how much interest is being received on which scheme at present.
Post Office Time Deposit Scheme
Post Office Time Deposit Scheme is also known as Post Office Fixed Deposit Scheme. There are 4 options available for investors in this scheme. They can invest by choosing fixed deposit schemes with different tenures as per their capacity. On FD from post office Interest is available between 6.9 percent to 7.5 percent. 6.9 percent interest is being given on FDs maturing in one year, whereas the post office is giving 7.5 percent interest on FDs maturing in 5 years. Whereas 2 year and 3 year FDs are getting 7 percent and 7.1 percent interest respectively.
Post Office Recurring Deposit Scheme
Investors are currently getting the benefit of 6.7 percent interest on investing money in the Post Office Recurring Deposit Scheme. This interest rate is applicable till 31 March. In recurring deposit, the maturity is 5 years i.e. 5 years from the date of account opening (60 monthly deposits). This account can be extended for further 5 years by applying in the concerned post office.
Also Read: Small Savings: Deposit 10 thousand monthly in RD, see the benefit after completion of the scheme.