• Post Office Recurring Deposit (RD):
• Interest Rate: 6.7% per annum (compounded quarterly).
• Tenure: 5 years.
• Minimum Deposit:100 per month; no maximum limit.

• Features: Ideal for accumulating a substantial corpus through regular monthly deposits. For example, investing3,000 monthly can yield approximately2.08 lakh after 5 years.

• Post Office Fixed Deposit (Time Deposit):

• Interest Rates:
  • 1 year: 6.9%
  • 2 years: 7.0%
  • 3 years: 7.1%
  • 5 years: 7.5%
• Minimum Deposit:1,000; no maximum limit.

• Features: Offers higher interest rates for longer tenures. The 5-year deposit qualifies for tax deductions under Section 80C of the Income Tax Act.

• Post Office Monthly Income Scheme (MIS):

• Interest Rate: 7.4% per annum, payable monthly.
• Tenure: 5 years.
• Minimum Deposit:1,000.
• Maximum Deposit:9 lakh for joint accounts;4.5 lakh for single accounts.

• Features: Suitable for individuals seeking a regular monthly income. For instance, a2 lakh investment would provide a monthly interest payout.

• Public Provident Fund (PPF):

• Interest Rate: 7.1% per annum (compounded annually).
• Tenure: 15 years.
• Minimum Deposit:500 per year.
• Maximum Deposit:1.5 lakh per year.

• Features: Provides tax benefits under Section 80C, and the interest earned is tax-free. Partial withdrawals are permitted after the 7th year.

• Senior Citizens Savings Scheme (SCSS):

• Interest Rate: 8.2% per annum, payable quarterly.
• Tenure: 5 years.
• Minimum Deposit:1,000.
• Maximum Deposit:30 lakh.
• Eligibility: Individuals aged 60 years and above.

• Features: Offers regular income with tax benefits under Section 80C. Premature withdrawals are allowed with applicable penalties.

• National Savings Certificate (NSC):

• Interest Rate: 7.7% per annum (compounded annually).
• Tenure: 5 years.
• Minimum Investment:1,000; no maximum limit.

• Features: Provides tax benefits under Section 80C. Interest earned is reinvested and paid out at maturity.

• Kisan Vikas Patra (KVP):

• Interest Rate: 7.5% per annum (compounded annually).
• Tenure: Matures in 115 months.
• Minimum Investment:1,000; no maximum limit.
• Features: The invested amount doubles upon maturity. Premature encashment is allowed after 2.5 years.

These schemes cater to various investment needs, offering safety, assured returns, and, in many cases, tax benefits.

Next: Read 2500+ consumer guides to shopping, electronics, appliances, home services, cars, money and more.

❤ If you liked all this, consider supporting us by checking out Tiny Skills - 250+ Top Work & Personal Skills Made Easy