Post Office Saving Schemes: Overview, Benefits & Plans

Post Office Investment Savings Schemes, Post Office Schemes, Advantages of Post Office Savings Schemes, Post Office Recurring Deposit: Like we all know fact that everyone wants to do some savings for their future. Savings in Post Office is one of them to save our investments. The saving yojana has a very trustworthy investment scheme for all the common man or citizen. Savings in the form of school fees for their children, small fundings or businesses like buy two-wheeler, or any other post-office related schemes. It always helps the general people of our country for a particular time. It has many advantages, such as housewives can also get this opportunity to save small savings schemes. You can call it a small middle-class person saving scheme having various benefits. Here in this article, we will discuss everything related to the Post Office Investment Savings Schemes, Advantages of Post Office Savings Scheme, Difference between the several Post Office Savings Schemes, etc. Interested applicants should read this article very carefully.

Post Office Schemes

Topic Name Post Office Saving Schemes: Overview, Benefits & Plans
Article Category Post Office Investment Scheme
Savings Schemes Below Post Office Investments
Difference Between the several Post Office Savings Schemes
Post Office Investment Saving Schemes Advantages
Frequently Asked Questions
Scheme Category Post Office
Official Website Click Here


Post Office Investment Scheme

It has to be understandable from every citizen that investment cannot be made overnight. Every single person has to start to grow and invest capital that returns good investment. They have to start to understand it properly. Let us tell you all that the Post Office Saving Schemes consists of the various schemes that always provide risk-free returns and reliability on investment. All of these Post Office Schemes are run around the country with around 1.54 lakh post offices. For example, the PPF Post Office Scheme PPF runs around 8200 public sector bank branches and the post office in every city.


Savings Schemes Below Post Office Investments

Here we will discuss the names of all Savings Schemes below the Post Office Investments. Let’s tell you all that the Indian Post Office has to provide many different savings yojana or schemes from which the RD process is one of the most used schemes. The name of Savings Schemes are as follows:

  • Post Office Savings Account
  • Sukanya Samriddhi Accounts (SSA)
  • 5-Year Post Office Recurring Deposit Account (RD)
  • Kisan Vikas Patra (KVP)
  • Post Office Time Deposit Account (TD)
  • National Savings Certificates (NSC)
  • Post Office Monthly Income Scheme Account (MIS)
  • 15 year Public Provident Fund Account (PPF)
  • Senior Citizen Savings Scheme (SCSS)


Difference Between the several Post Office Savings Schemes

Here we will discuss the difference between the several Post Office Savings Schemes. The table is showing you the exact information on several different post office schemes. The table is as follows:

Name of Scheme Minimum Investment Rate of Interest Eligibility Conditions Maximum Investment Tax Implications
National Savings Certificates (NSC) 100 Rupees 7.9% p.a. (Compounded annually) Individual No limit Tax rebate under section 80C for deposits (maximum 1.5 lakh rupees  p.a.)
Post Office Time Deposit Account (TD) 200 Rupees First-year – 6.9% p.a.

Second year – 6.9% p.a.

Third Year – 6.9% p.a.

Fourth Year – 7.7% p.a.

Individual No limit Tax benefits up to 5 years under section 80C on deposits
Senior Citizen Savings Scheme (SCSS) 1,000 Rupees 8.6% p.a. (Compounded annually) Individual of age> 60 years or age >55 years who have opted for VRS or superannuation Maximum deposit over the lifetime allowed at 15 lakh rupees – Tax benefit below the section 80C for deposits

– TDS to be deducted on interest earned for more than 50,000 rupees p.a.

15-year Public Provident Fund Account (PPF) 500 rupees per financial year 7.9% p.a. (Compounded annually) Individual 1.5 lakh rupees per financial year Tax rebate below the section 80C for deposits (maximum 1.5 lakh rupees p.a.)
Post Office Monthly Income Scheme Account (MIS) 1,500 Rupees 7.6% per annum payable monthly Individual For one account holders – 4.5 lakh rupees

Joint account holders – 9 lakh rupees

Interest earned is taxable and no deduction under Sec 80C for deposits made.
Kisan Vikas Patra (KVP) 1,000 Rupees 7.6% p.a. (Compounded annually) Individual (Adult) No limit Interest is taxable but no tax on the amount received on maturity
Post Office Savings Account
  • 20 Rupees
  • The non-cheque facility of 50 Rupees
4% per annum (p.a.)
  • Resident Indian, minor and majors
No limit Tax-free interest up to 50,000 Rupees from the financial year of 2018-19
Sukanya Samriddhi Accounts 1,000 Rupees per financial year 8.4% p.a. (Compounded annually) Girl Child – up to 10 years from birth and one additional year of grace 1.5 lakh Rupees per financial year Investment (up to 1.5 lakh rupees exempt below the Section 80C), interest, and the amount received on maturity is tax-free

 

Post Office Investment Saving Schemes Advantages

Here we will discuss the several advantages of the Post Office Investment Saving Schemes. As we know, several government post office schemes offer good advantages also. The advantages are as follows:

Advantages of Post Office Savings Schemes

  • Easy to invest

This Post Office savings scheme has become the most usable and best for both urban and rural investors. It is very easy to apply. It is for those who want to take the risk for a fixed investment return. The quality of simplicity and availability makes this investment plan a much-needed savings and investment option.

  • Procedures and Documentation

There is an advantage of proper procedures and documentation in the post office. It always makes sure that all of these post office saving schemes are easy to get, and it will be safely locked as the government backs it. 

  • Post Office Schemes Investments

Let us tell you all that the Post Office Schemes Investments is a long-term oriented and fast-forward plan with an investment time that extends up to fifteen years for the account of PPF. So, all of these investment plans seem to be an excellent plan for pension and retirement planning.

  • Tax exemption

As we know, that there are around many government post office schemes that are eligible for the tax exemption below Section 80C for the deposit amount. The name of all schemes is SCSS, PPF, Sukanya Samriddhi Yojana, etc. These all consist of earned interest amount exempted through taxation.

  • Interest Rates

Here we will discuss the advantage of interest rates. Let us tell you all that the total interest rate in all of these schemes would range between 4% to 9%. It is risk-free. It consists of only minimum risk, as we know that the Indian government opts for these investment plans.

  • Different buckets of products

Let us tell you all that there are around a huge amount of available products for all individuals of different types. For example, Kisan Vikas Patra, Public Provident Fund [PPF], and Sukanya Samriddhi Yojana are the most important government schemes.

The Indian government has made all small savings schemes present through the post office as a good investment for all people. From this, India’s people should get good returns & always keep their investment safe, secure, and easy to manage all of these products. If somehow, many government features and benefits satisfy your needs, always try to invest in the post office savings scheme as it is one of the most secure financial terms. 


I hope you will understand this article very well and are ready to take advantage of it. Suppose you face any problems related to the Post Office Investment Savings Schemes, Advantages of Post Office Savings Scheme, Difference between the several Post Office Savings Schemes. In that case, you may ask your queries in the given comment box.


Frequently Asked Questions


Name all Savings Schemes that come below the Post Office Investments?

The name of Savings Schemes are as follows:

  • Post Office Savings Account
  • Sukanya Samriddhi Accounts (SSA)
  • 5-Year Post Office Recurring Deposit Account (RD)
  • Kisan Vikas Patra (KVP)
  • Post Office Time Deposit Account (TD)
  • National Savings Certificates (NSC)
  • Post Office Monthly Income Scheme Account (MIS)
  • 15 year Public Provident Fund Account (PPF)
  • Senior Citizen Savings Scheme (SCSS)


What are all advantages of Post Office Investment Saving Schemes?

The advantages are as follows:

  • Easy to invest
  • Tax exemption
  • Interest Rate
  • Post Office Schemes Investments
  • Different buckets of products


What will be the minimum amount to invest below Post Office Recurring Deposit?

You can deposit a minimum amount of Rs.100/- for five years.

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