Various 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 the benefit of tax deduction as well as a return of more than 8 percent annually.
If you are planning to invest your money in any scheme from the point of view of savings and investment, then post office schemes can prove to be much better for you. Various 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 the benefit of tax deduction as well as a return of more than 8% annually.
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 paying 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. Maturity period is 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 Citizen Savings Scheme (SCSS)
The Post Office Senior Citizen 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 Citizen Savings Scheme with as little as Rs 1,000.
You can deposit up to a maximum of Rs 30 lakh in this. At present, the scheme is getting the benefit of 8.2 percent interest rate. Post Office Senior Citizen Savings Scheme offers tax deduction benefits under section 80-C of the Income Tax Act.
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