Post Office Schemes: Amazing Benefits With These Three Schemes At Post Offices

Post Office Small Savings Scheme

Post Office Schemes: There are many schemes available in post offices to get more returns with less investment. Businessmen say that if money is in hand and it is included in various schemes available in post offices, good profits can be made. Indian Postal Department is making available various schemes for the customers. Like banks, post offices have various schemes. The central government is introducing schemes in post offices for people to get more income. Apart from fixed deposits, if you invest in different types of schemes, you can get more benefits than the investment. Besides, there is the facility of getting tax exemption by investing in the schemes of postal department. Let us inform you about some such schemes which avail exemption benefits under Section 80C of Income Tax.

Sukanya Samriddhi Account

Another scheme is Sukanya Samriddhi Yojana. This scheme can also earn good returns after maturity. This scheme is available in banks as well as post offices. This scheme will be useful for daughter’s marriage and education. 7.6% interest is earned on the investment made in this scheme. You can open an account to join this scheme for girls aged 90 days to 10 years. In this every year you have to pay a minimum of Rs. 250, maximum Rs. 1,50,000 can be invested. By investing in this scheme you can get exemption under Section 80C of Income Tax. You can withdraw the amount from the account after the girl turns 21 years.

Public Provident Fund Account

Investing in a Public Provident Fund Account (PPF) scheme can yield good returns. Also, you can get the tax-saving benefits. A 7.1% return can be earned on this scheme. You have to invest the money in this scheme for a total period of 15 years. The minimum investment amount for each financial year is Rs.500 and the maximum amount is Rs.1.5 lakhs. After three years you can also get loan on it. You can also make partial withdrawal from this account if required after five years.

Senior Citizen Savings Scheme

Various schemes are available in post offices for senior citizens. Senior citizens can get good returns by investing in savings schemes. In order to invest in this, one should be above 60 years of age. If you invest in it, you can get tax-saving benefits as well as higher returns than bank FDs. Investing in this scheme will earn you an interest rate of 7.4%. Interest is accrued every three months on your deposits. You can open a post office account alone or with your spouse and invest under the Senior Citizen Savings Scheme. In this scheme you can invest from a minimum of Rs.1,000 to a maximum of Rs.15 lakhs. Maturity is five years.