The central government has announced interest rates on small savings schemes for the July-September 2026 quarter. According to the new announcement, the interest rate remains unchanged. Therefore, the interest rate on National Savings Certificates will remain at 7.7 percent. Through this government scheme, you can earn over ₹5 lakh in interest alone. Learn the scheme's calculations.
Every investor invests in schemes for good returns. Various post office schemes are renowned for their many such investment options. The post office offers different schemes for children, the elderly, youth, workers, and women. Post office schemes offer guaranteed returns. Similarly, your investment is also protected.
For the past few years, the Post Office National Savings Certificate has been a hot topic among investors. The scheme offers a fixed quarterly interest rate of 7.7%. Investments in this scheme earn interest on a compounded basis. Furthermore, after the term of the scheme is over, the benefits are credited to the investor's account. To reap the benefits of this scheme, one must continue the entire scheme until the term is complete.
Earn 5 lakh from interest
There is no maximum investment limit in the scheme. You can invest as per your wish and earn profits. You can also open an account in the name of a child under 10 years of age. Under this scheme, you can avail tax savings of up to ₹1.5 lakh per year under Section 80C of the Income Tax Act. You can earn ₹5 lakh from interest over a period of 5 years. To do this, first understand the scheme's math. You will need to open an account under the relevant scheme and invest ₹11.50 lakh. After that, at the end of the 5-year term of the scheme, your corpus will become ₹16.66 lakh. This will result in an interest of ₹5,16,389 along with compound interest. This will be the interest amount only.
Before that, you can choose any fixed amount to invest in this scheme. There's no option to close the account before the maturity period. Doing so will impact investors to some extent. If you close your account after one consecutive year, you'll only receive your invested amount back, not the interest on it. To take advantage of the scheme, you'll need to keep the account open for five years.
PC: India tv news
