We are going to tell you about the 5 best investment schemes for the post office, which give you maximum returns. Along with this, you do not have to take any big risk in this investment.

5 best saving schemes for post office

Like banks, post offices also offer many savings schemes. These include both short and long-term saving schemes. There are many such schemes in the post office, which give the account holder a chance to earn a fixed income. This can make the life of daughter-son, wife, or elderly parents easier. For this, you have to make a one-time investment.

Senior Citizen Saving Scheme
If you are a senior citizen and want to save tax along with safe investment, then you can invest money in Post Office Senior Citizens Savings Scheme Account (SCSS). People above 60 years of age can invest money in this scheme. Currently, 8.20% annual interest is being given in this scheme. This scheme is 100% secured by the government. The maturity period of this scheme is 5 years. The maximum limit of investment is Rs 30 lakh per person. The interest keeps getting revised every 3 months. If you invest Rs 30 lakh, then in 3 months you will get an interest of Rs 61,500. If you divide it, then the interest becomes Rs 20500 every month. If a couple invests, then the combined monthly income becomes Rs 41000. By investing in this scheme, you can claim a deduction of Rs 1.5 lakh from your total income under section 80C of the Income Tax Act.

Monthly Income Scheme

The Monthly Income Scheme (MIS) is a deposit scheme of the post office. If you invest in it once, then you will get a fixed income every month. Under the Monthly Income Scheme, a husband, wife, brother, or any family member can open an account. If the child is below 10 years of age, then his parents or legal guardians can open an account in his name. This account can be opened both singly and jointly. Under the Monthly Income Scheme, you have to make a one-time investment. You can invest up to Rs 9 lakh in a single account and up to Rs 15 lakh in a joint account.

Time Deposit Scheme
Post Office's fixed deposit scheme or time deposit is one such scheme. It is also called a Post Office Fixed Deposit Account in simple language. By investing in this scheme, you can earn a profit of more than 2 lakhs only from interest. Interest is given on an annual basis in a time deposit account. Interest is calculated every 3 months. In this scheme, you can invest your money for 1, 2, 3, and 5 years. The interest rate in this scheme on investment for 1 year is 6.9%. The interest rates for investment for a period of 2 and 3 years are 7%.

National Savings Certificate

National Savings Certificate is a fixed-income investment scheme. Any Indian citizen can get a National Savings Certificate from any post office. NSC can be purchased singly or jointly. It is issued in the form of a passbook. You can also save tax by investing in it. It is currently getting 7.7% annual interest. However, the interest amount is given only after the investment period. A minimum of Rs 1000 can be invested in it. There is no maximum limit for investment in NSC.

Kisan Vikas Patra

If we talk about safe investment and strong returns, then there is no answer to Kisan Vikas Patra, a scheme of post office. Under this scheme, your money doubles in just 115 months. In this scheme, interest is available at the rate of 7.5%. You can also take a loan from a KVP account in times of emergency. The interest received on Kisan Vikas Patra (KVP) is calculated on a compounding basis. Tax is also added to the amount received by investors under this scheme.

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