Many different schemes are being run by the post office for the common citizens. In which you get many benefits like better returns with excellent interest, benefit of government security and tax deduction. In such a situation, let us know about those schemes of the post office where you are getting returns of more than 8% per annum along with the benefit of tax deduction.
If you are planning to invest your money in a scheme from the point of view of savings and investment, then Post Office schemes can prove to be much better for you. Many different schemes are being run by the post office for the common citizens. In which you get many benefits like better returns with excellent interest, benefit of government security and tax deduction. In such a situation, let us know about those post office schemes where you are getting returns of more than 8% per annum along with the benefit of tax deduction.
Sukanya Samriddhi Yojana (SSY)
Post Office’s Sukanya Samriddhi Yojana (Post Office SSY) is being run especially keeping the daughters in mind. This is one of the highest interest offering schemes of the post office. At present, by investing in this scheme, you will get the benefit of compound interest at the rate of 8 percent per annum.
Under this scheme, your account can be opened with just Rs 250. The maturity period is of 21 years. You can deposit up to a maximum of Rs 1,50,000 under the scheme. Sukanya Samriddhi Yojana gives the benefit of tax deduction under section 80-C of the Income Tax Act.
Senior Citizens Savings Scheme (SCSS)
Post Office Senior Citizens Savings Scheme (Post Office SCSS) has been started especially keeping in mind the senior citizens. In this scheme, senior citizens up to 55-60 years who have retired can deposit their money in this scheme. An account can be opened in the Senior Citizens Savings Scheme with as little as Rs 1000.
You can deposit up to a maximum of Rs 30 lakh in it. At present, the scheme is getting the benefit of interest rate of 8.2 per cent. The Post Office Senior Citizens Savings Scheme offers tax deduction benefits under Section 80-C of the Income Tax Act.
