At the same time, you can purchase Kisan Vikas Patra for a time period of 9 years and 4 months. High Return Small Saving Schemes Offered by Banks now Until now, most of the small savings schemes were sold through post offices only. Eligibility Criteria. 1,50,000 is allowed. Latest Post Office Small Saving Schemes Interest rates Apr – Jun 2020 The latest rates of interest applicable on various small savings schemes for the quarter from April to June 2020 effective from 1.4.2020 would be as below;
These tax saving schemes offer income tax benefits as per different sections of the Income Tax Act, 1961. The post office fixed deposit scheme in India consists of a bucket list of the products that offer reliability and risk-free return on investment.. The scheme has a tenure of five years. The best part opening a Post Office Savings Scheme account is that post office is usually located in almost every locality. Post Office Monthly Income Scheme (MIS) 2020 in Hindi, डाकघर मासिक आय योजना - Duration: 10:28. Yesterday, Ministry of Finance published latest interest rates on post office small saving schemes applicable for the period July to September, 2019 (2 nd Quarter of FY2019-20). Instead, it includes a list of saving schemes that offer a risk-free and reliable return on investment. Post Office Small Savings Schemes are very popular in India as people prefer Investing money in instruments backed by the Government of India. The Post Office Time Deposit Account (TD) or Post Office Fixed Deposit (FD) is an investment opportunity that can be availed under the Post Office Savings schemes. Besides, the tenure for term deposits ranges from 1 to 5 years. those aged over 60 can invest in this particular scheme and earn regular interest which is payable quarterly. National Savings Recurring Deposit Account (5 Years RD) Post office deposit schemes' interest rates The USP of small savings schemes is their sovereign guarantee. Post Office Savings Schemes That Offer Income Tax Benefits Apart from many banks, post offices also offer the popular tax-saving scheme PPF, which qualifies for EEE (exempt-exempt-exempt) tax benefit. *The Post Office Fixed Deposit interest rates are subject to change. Most of these schemes can be opened with a minimum amount of Rs. The deposits are accepted under various saving schemes such as PPF, time deposits, RD etc. Post Office Savings Account If you want to go for a normal savings account, then the post office savings account is the best option for you. Post office tax saving schemes are reliable and risk-free investment tools that assure investors of a secure return.Operated by post offices all over the country, these schemes are open to every Indian citizen for investment. The interest rate offered on these schemes are reviewed and fixed every quarter by the government. Also alike MIS scheme in banks, post office provides the facility of Monthly Income Scheme. This trend has given an indication, that interest rates would go down for small saving schemes too. Post Office Savings Scheme. ET Online | Last Updated: Jun 11, 2020, 01.29 PM IST. These schemes are also known as small savings schemes. Besides assuring investors of high returns, the process is streamlined, quick and hassle-free. The customer can open the deposit with the minimum amount of ₹1,500. those aged over 60 can invest in this particular scheme and earn regular interest which is payable quarterly.