To shape the future, only big money is not required. Rather, the decision to invest at the right time is also important. Therefore, if you decide to invest now, you will get its benefits in the long term. That is why today we are telling you about the 5 such highest return giving schemes of the government.
1. Public Provident Fund Scheme
You can open an account in the Public Provident Fund (PPF) scheme with a minimum of Rs 500. This account can be opened in the nearest post office branch or designated bank branch. In this account, you can deposit minimum Rs 500 and maximum Rs 1.5 lakh in a financial year. From January 1, 2023, this scheme is offering 7.1 percent interest annually. The maturity of PPF account is 15 years.
2. Kisan Vikas Patra
Kisan Vikas Patra (KVP) is a fixed rate small savings scheme, in which you have to deposit a lump sum amount. This scheme of the post office has been specially designed for farmers. At present, interest on this scheme is 7.5 percent. You can invest a minimum of Rs 1000 and in multiples of Rs 100 in the post office Kisan Vikas Patra Scheme. There is no limit on maximum investment. The good thing is that any number of accounts can be opened under this scheme.
3. Sukanya Samriddhi Account
To secure the future of daughters, Sukanya Samriddhi Yojana is run by the government. In this scheme, guaranteed interest is available and the benefit of compounding interest is available. At present, interest is being given on this scheme at the rate of 8 percent. Let us tell you that the minimum investment in SSY can be Rs 250 and maximum Rs 1.5 lakh can be deposited annually.
4. National Savings Certificates
This scheme of NSC is a great way to earn guaranteed income without taking any risk. NSC interest rates have been increased from 7 percent to 7.7 percent per annum. The specialty of this small savings schemes of the post office is that there is no maximum limit on investment. At the same time, multiple accounts can be opened in it. There is also the benefit of tax deduction up to Rs 1.5 lakh under section 80C of Income Tax on deposits in NSC. According to the information given on the post office website, if you invest Rs 1000 in NSC, then after the next 5 years you will get Rs 1,449.
5. Post Office Saving Account
It is necessary to have a minimum of Rs 500 in the post office savings account. If the amount is less and remains below this limit at the end of the financial year, then a maintenance fee of Rs 50 will be deducted. In this you get interest at the rate of 4.0% per year. Like banks, you also get many types of facilities on post office savings account.
