How to Earn Money: If you are planning to invest, then the Small Savings Scheme of the Post Office can prove to be a better option.
New Delhi. If you are planning to invest, then the Small Savings Scheme of the Post Office can prove to be a better option. In post office small savings schemes, you get good returns from FD or RD of the bank. This scheme of a post office can also be a better option because money is completely safe in it. In this, there is a sovereign guarantee on the amount deposited. Let's know everything about this plan…
National Savings Certificate (NSC): There
is a National Savings Certificate (NSC) in the post office scheme where the interest is getting better as compared to FD.
The NSC scheme of the post office is currently getting interest at the rate of 6.8 percent per annum. It is compounded on an annual basis but the payment is made only on maturity. The tenure of this scheme is 5 years. However, on maturity, it can be extended for another 5 years.
5 investment options:
National Savings Certificate is currently available in denominations of Rs 100, Rs 500, Rs 1000, Rs 5000, and Rs 10,000. One can invest in NSC by purchasing any number of certificates of different values. A minimum investment of Rs 100 is required in this. There is no maximum investment limit.
Know-how 15 lakhs will become 21 lakhs:
If you invest Rs 15 lakhs in this scheme, it will become Rs 20.85 lakhs in 5 years at a 6.8 percent interest rate. Your investment in this will be 15 lakhs, but there will be a benefit of about 6 lakhs in the form of interest. Under Section 80C of the Income Tax Act 1961, the tax deduction is available on investments up to Rs 1.5 lakh per annum under NSC.