The post office has 9 types of savings schemes. Find out how much interest is available.
Find Digitally ~ 7th August, 2018
Do you know that there is a facility of opening a variety of savings accounts in Indian post office i.e. Indian Post Office? In addition to the postal service, 1.5 lakh post offices spread across the country of India Post also offer many types of banking and remittance services. Nearly 9 types of savings schemes are operated in the post office. These include Savings Accounts Recovery Deposit Account, Time Deposit Account, Monthly Income Scheme Account, Senior Citizen Savings Scheme Account, Public Provident Fund or PPF Account, National Savings Certificate, Kisan Vikas Patra and Sukanya Prosperity Account.
In these savings schemes, interest from 4 to 8.3 percent interest is provided by India Post. This information is available on the India Post website. In detail about key plans: We are providing detailed information about selected major savings schemes in the post & nbsp; office. Learn about them ...
These 5 schemes of the post office give more interest than the savings account. Also read Post Office Savings Scheme: You can open this account for only Rs 20. This account can be opened only through the cache. If you open this account from Rs 500 then you are provided check facility on this account, however, for this you have to keep a minimum of 500 rupees in your account.
You can make a nominee before or after opening this account. At the same time, this account can be transferred from one post office to another post office. However, in order to keep this account active, at least one transaction of deposit or withdrawal is required in the three financial years. ATM facility is also available in this account.
At the same time, 4% interest is paid on deposited in this account. Five-Year Post Office Recurring Deposit Account (Post Office Recording Deposit Account): You can open this account with any checks or cash anywhere. You can also make someone your nominee in this account. This account receives an interest of 6.9 percent on the amount deposited.
At the same time, there is also a facility of removing 50 percent of the money after one year in this savings scheme. Post Office Time Deposit Account: Interest on deposited in this account is given annually but it is calculated on a quarterly basis. There is no limit to depositing in it. You can transfer the account to another post office.
Interest rates on post office time deposits are as follows ... These two schemes of post office give more interest to the savings account, know also about them Post Office Monthly Income Scheme - MIS: Any person can open the account by cash or by checking any medium. You can get nomination before or after opening the account. This account can also be transferred.
The account receives an interest of 7.3 per cent on deposits. Senior Citizen Savings Account (SCSS): A person 60 years of age or above can open the account. Those who retire from 55 years to 60 years of age or who take VRS (voluntary retirement) can also open this account three months before retirement. You can open this account in minimum 1000 rupees or in its coefficients.
Up to a maximum of 15 lakh rupees can be deposited in this account, which gives interest of 8.3 per cent on an annual basis. The maturity period of this account is five years. Wife can also open this account in the form of Joint Account. Nomination is also available in this account.
At the same time, this account can be transferred from one post office to another. Even if the annual interest paid on this deposit in this account is above Rs 10,000, TDS is also deducted on it. Read More 15 Years Public Provident Fund (PPF): This account can be opened in just Rs. 100.
Account holders have to deposit minimum 500 rupees and maximum of 1.50 lakhs in this account throughout the financial year. The Maturity Period of this account is 15 years old. You can also open a joint account in it. There is also a nomination facility in this.
It gives the benefit of a tax rebate on investment of up to Rs 1 lakh in a financial year. It earns 7.6 percent interest on deposits. Post Office Sukanya Prosperity Account: This account, which is open in the post office, is also awesome. In this scheme, minimum 1,000 rupees and maximum of Rs 1,50,000 rupees have to be invested during a financial year.
Lump sum investment can be done in this. There is no limit on the number of deposits in one month or in the financial year. A statutory guardian or original guardian can open an account in the name of the girl. This account can be opened within next 10 years of the birth of the girl.
This account receives an interest of 8.1 percent. This account closes when the girl completes 21 years. Read also: & nbsp; Your home and your friends will not be able to do any of these Missusz, Learn how by Praveen Dwivedi.
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