Which is best saving scheme in post office?

Which is best saving scheme in post office?

• Post Office Savings Account(SB)​​​​ …
• ​ National Savings Recurring Deposit Account(RD)​​ …
• ​ ​ National Savings Time Deposit Account(TD) …
• ​ National Savings Monthly Income Account(MIS) …
• ​ Senior Citizens Savings Scheme Account(SCSS)​ …
• ​​Public Provident Fund Account(PPF )​ …
• ​Sukanya Samriddhi Account(SSA)​

Which scheme is best in post office 2022?

Post Office Savings Account Interest Rate 2022

What is the interest of 1 lakh in post office?

Post Office FD Returns Based on Investment Amount

Is it good to open saving account in post office?

A Post Office Savings Account is one of the most popular and accessible savings accounts in India. The minimum opening amount as well as maximum balance that can be retained is Rs. 500….Post Office Savings Account.

Which scheme is best in Post Office in 2021?

Here are five post office investments that help reduce tax liability as they come with tax benefits under Section 80C of the Income Tax Act, 1961.

1. Public Provident Fund Account (PPF ) …
2. National Savings Certificates (NSC) …
3. Sukanya Samriddhi Yojana (SSY) …
4. Post Office Time Deposit Account (TD)

How can I earn 50 lakhs in 5 years?

50 lakhs in five years….

1. Parag Parikh Long Term Equity Fund. …
2. Mirae Asset India Equity Fund. …
3. Axis Focused 25 Fund. …
4. Axis Bluechip Fund. …
5. ICICI Prudential Bluechip Fund. …
6. ICICI Prudential Nifty Next 50 Index Fund. …
7. Franklin India Low Duration Fund. …
8. Franklin India Ultra-Short Bond Fund.

Can I double my money in 5 years?

Mutual Funds (MFs) Long term mutual funds offer 12% to 15% per annum as rate of return. Doubling money through mutual funds will take approximately 5 to 6 years.

What is the interest of 5 lakh in post office?

5 lakh. Annual Interest Rate is 6.6% p.a. Tenure is 5 years.

Which is best monthly income scheme?

6 Best Monthly Income Schemes In India

• Fixed Deposit. Undoubtedly one of the best and most low-risk income schemes is a bank Fixed Deposit (FD). …
• Post Office Monthly Income Scheme (POMIS) …
• Long-term Government Bond. …
• Corporate Deposits. …
• SWP from Mutual Funds. …
• Senior Citizen Saving Scheme.

What is the interest of 60000 in post office?

RD Formula The investment amount is INR 60,000. The interest earned is INR 9,697.

How many years FD will double?

To know the time duration in which your FD amount will get doubled, you have to divide 72 with the highest rate. For example, if the highest rate on FD is 7.05%, then the number of years in which your FD will get doubled is 72/7.05= 10.21.

Which FD is better SBI or post office?

On one hand, where SBI fixed deposit rates are 5.5%, on the other hand, post office term deposits offer an interest rate of 6.7% when the investment is made for five years.

Does post office provide ATM card?

A person who has a post office SB account is eligible to issue a new brand debit card (ATM Card). As per information received from various sources, all Head Post Offices have the facility to issue atm cards for post office savings bank account holders.

How much money can be deposit in post office?

The maximum limit for cash transactions in post offices has been increased by the government. The cash deposit limit and the cash transaction limit have now been increased to Rs 50,000 in a day from the earlier cap of Rs 25,000 in a day.

Is ATM card available for post office savings account?

Customers are offered a debit card when opening the post office savings account. Individual savings accounts can be converted to a joint account on provision of KYC documents of the second party.

Which scheme gives maximum interest in Post Office?

Public Provident Fund (PPF) PPF is a long-term investment for a period of 15 years currently offered at an interest rate of 7.1% per annum (compounded yearly). The maximum amount under this scheme is Rs. 1,50,000 in a financial year.

What is the interest of 500 in Post Office?

You only have to pay Rs 500 per financial year to keep the account active. The scheme offers an interest rate of 7.1% p.a. compounded annually. Also, the interest earned on this account is tax-free.

Which scheme has highest interest rate?

Best Saving Plans