Post Office Investments incorporate various sparing schemes that give a high pace of
A post office offers different sorts of store schemes for financial specialists.
Post Office Monthly Income Scheme (POMIS) may be the best choice for you.
| Post Office Schemes | Interest Rates (P.A.) | Minimum Deposit Amount | Maximum Deposit Amount |
|---|---|---|---|
| Post Office Schemes | 4% | 20 | No Limit |
| Post Office Time Deposit Or FD | 6.90% - 7.70% | 200 | No Limit |
| Post Office Recurring Deposits | 7.20% | 10 | No Limit |
| Post Office Monthly Income Scheme | 7.60% | 1500 | Individual 4.5 Lakhs & Joint 9 Lakhs |
| Post Office Kisan Vikas Patra | 7.60% | 1000 | No Limit |
| Post Office 5 Yr NSC - VIII Issue | 7.90% | 100 | No Limit |
| Public Provident Fund | 7.90% | 500 | 1.50 Lakhs per annum |
| Sukanya Samriddhi Account | 8.40% | 1000 | 1.50 Lakhs |
| Senior Citizen Saving Scheme | 8.60% | 1000 | 15 Lakh |
As there is no fixed number of accounts held by the individual, yet there is a breaking point on the most extreme sum that can be in total contributed overall POMIS accounts. On account of an individual working account, the most extreme investment permitted in POMIS is Rs.4.5 lakhs.
POMIS doesn't offer any tax refund under area 80C. The sum put resources into POMIS isn't tax-deductible. On the off chance that the regularly scheduled payouts are not pulled back, they sit and don't yield any interest. There is no TDS on the Post Office MIS. However, the interest payment is taxable in your grasp.
Top 3 Best Post office savings schemes:-
| Scheme | Interest Rate | Eligibility |
|---|---|---|
| 15 year Public Provident Fund Account (PPF) | 7.9 % p.a. (Exacerbated Annually) | Individual |
| National Savings Certificates (NSC) | 7.9 % p.a. (Exacerbated Annually) | Individual |
| Kisan Vikas Patra (KVP) | 7.9 % p.a. (Exacerbated Annually) | Individual (Adult) |
