Post Office Scheme To Double The Money

Post office investment schemes stand as reliable options for individuals seeking secure avenues to grow their savings. Among these, identifying the ‘best’ scheme entails understanding various factors: returns, risks, flexibility, and tax benefits. Exploring these facets and dissecting the most promising post office schemes can empower investors to make informed decisions, ensuring both stability and growth for their financial portfolios.

Features: The PPF scheme offers attractive interest rates, tax benefits, and a lock-in period of 15 years, making it a popular long-term investment choice.

Rate of Interest: From 01 Oct 2023 – 7.1% per annum (compound yearly)

Benefits: Tax deductions under Section 80C of the Income Tax Act, compounded tax-free interest, and the flexibility to extend the account in blocks of five years beyond maturity.

Features: Specifically designed for the girl child, SSY offers an excellent interest rate, tax benefits, and a tenure that extends until the girl reaches 21 years of age. Account will be operated by guardian till girl child attend the age of 18 year. Minimum Rs 250 and Maximum Rs 1,50,000 can be deposited in Sukanya Samriddhi Account (SSA) in a financial year.

Rate of Interest: From 01 Oct 2023 – 8% per annum (compound yearly) calculator yearly basis.

Benefits: Tax exemptions under Section 80C, higher interest rates than many other small savings schemes, and a focus on securing a girl child’s future.

Maturity Period : Maturity of account is after 21 year from date of account open or at the time of girl child marriage after attaining the age of 18 year. (3 month after or one month before date of marriage)

Features: NSC provides a fixed interest rate, compounded annually but payable only at maturity, and a relatively short tenure of 5 years. Minimum – Rs 1000 and Maximum – No limit

Rate of Interest: From 01 Oct 2023 – 7.7% per annum (compound yearly) table at maturity after 5 years.

Benefits: Tax benefits under Section 80C, relatively low risk, and ease of investment.

Features: Offers fixed interest rates with various tenures ranging from 1 year to 5 years, providing flexibility in investment duration. Minimum – Rs 1000 and Maximum – No limit

Rate of Interest: From 01 Oct 2023 to 31 Dec 2023

One Year A/c – 6.9%

Two Year A/c – 7.0%

Three Year A/c – 7.0%

Five Year A/c – 7.5%

Benefits: Assured returns, minimal risk, and the option to choose a tenure as per individual financial goals.


Individual above 60 year of age can open Senior Citizen Saving Scheme Account (SCSS).

Retired civil employees of age 55 years and below 60 years can invest under this scheme within 1 month of receipt of retirement benefits.

Retired defence employees of age 50 years and below 60 year can invest under the scheme within 1 month of receipt of retirement benefits.

Lam Sam amount can be invested in this scheme. Minimum – Rs 1000 and Maximum – 30 lakh.

Rate of Interest: From 01 Oct 2023 – 8.2% per annum. Interest will be paid quarterly basis (i.e on 1st April, 1st July, 1st October and first January).

Benefits: Tax benefits under Section 80C, regular income through interest payouts, and higher interest rates than regular savings accounts.

The Sukanya Samriddhi Account (SSA) is a government-backed savings scheme in India, primarily designed to facilitate long-term savings for the girl child’s education and marriage expenses.

Purpose: The SSA aims to secure a girl child’s future by encouraging parents or legal guardians to save for her education and marriage.

Eligibility: The account can be opened for a girl child below the age of 10 by her parent or legal guardian. A maximum of two accounts can be opened for two girls in a family.

Interest Rate: The interest rate for the Sukanya Samriddhi Account is revised quarterly by the government and is typically higher than many other small savings schemes. With effect From 01 Oct 2023 – 8% per annum. Calculate on yearly basis.

Tenure: The account matures after 21 years from the date of opening or on the girl child’s marriage, whichever is earlier.

Contribution: Minimum and maximum annual contributions vary, allowing flexible deposits each year, with a minimum of INR 250 and a maximum of INR 1.5 lakh.

Withdrawal: Partial withdrawals are allowed once the girl child reaches 18 years or has passed the 10th standard exam for higher education purposes.

Closure: The account can be closed after the girl child attains 21 years or gets married, with necessary documentation to support the closure.

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