Invest money in these best post office schemes, the investment will be risk free with good income

New Delhi. The government has given a new year gift to the common people. The Government has not made any change in the interest rates of the Postal Savings Plans for the last quarter of this year. It hasn’t been long since the new year started. If you are replanning in such a situation, then a special savings plan from the post office may be beneficial to you. There is also a good income every month through this scheme. Let us tell you all about these schemes:

National Savings Certificates (NSC)
This Correos scheme is National Savings Certificates, that is, NSC. By investing in this scheme, your money will double in 119 months. The specialty of this scheme is that you can invest in it with just Rs 100 and you can also take advantage of the tax exemption. The total investment period under the post office NSC scheme is 5 years. According to India Post, the account under this scheme can be opened with a minimum of Rs 100. The account under NSC can be opened at post offices throughout the country. At the same time, there is no maximum limit for investment in it. Money in NSC can double in 119 months. By investing Rs 100 in NSC, it becomes Rs 146 after 5 years. Thus, it will take 9.11 years, that is, 119 months, to double the investment.

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Post Office Time Deposit (POTD)
Post offices also accept time deposits. These are like fixed-term bank deposits. Time deposits can be made in terms of one, two, three and five years. Children over the age of 10 can also invest in the plan. Tax exemption under section 80C is available on five-year term deposits. The post office time deposit account can also be opened by a person through cash or check. Speaking of the check, the date of deposit of the check in the government account will be considered as the date of opening of the account.

Kisan Vikas Patra (KVP)
If you want to double your investment amount, KVP is the right choice. As for the interest rates of other small savings plans, the government reviews them every quarter. When the money invested in this way will be doubled depends on the interest rates. Interest rates are usually fixed for one quarter. In case of early withdrawal after two and a half years, the person will get Rs 1,173 for every Rs 1,000 invested. The amount received after 3 years will increase to Rs 1211 and after three and a half years it will be Rs 1251. Over time the amount withdrawn will increase and after 9 years 5 months the money will double.

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Tags: investment and return, investment plan, Post Office