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Post Office Small Saving Scheme: Invest Rs 12500 monthly to get up to Rs 40 Lakh on maturity
Post Office offers a slew of investment schemes that are not just secure but offer impressive returns on the investment sum.
Highlights
- The Post Office Small Savings Scheme provides a high return with zero risk involved.
- The scheme offers you peace of mind and deep pockets at the time of maturity.
- You can open your bank account for as low as Rs 100.
New Delhi: India Post, a subsidiary under the Department of Post, offers a slew of investment schemes that are not just secure but offer impressive returns on the investment sum. So, if you’re an investor planning to put your money in a secure investment, you could consider the plans offered by Post Office.
For instance, the Post Office Small Savings Scheme provides a high return with zero risk involved, offering you peace of mind and deep pockets at the time of maturity. You can open your bank account for as low as Rs 100.
In one such scheme named Post Office Public Provident Fund, investors can make easy money by investing for a period of 15 years. The investment scheme could be a suitable investment option for long-term investors.
Currently, investors are receiving an interest of more than 7% on their investments in the Post Office Public Provident Fund. Investors can invest a maximum of 1.5 lakh or about Rs 12,500 per month in the scheme and can get lakhs at the time of maturity.
So if you can invest Rs 12,500 every month to save for your retirement, you can get about Rs 40 lakh at the time of maturity at 7.1%. As per the calculations, your total investment in 15 years will come to Rs 22.5 lakh while the interest on the scheme would be Rs 18.18 lakh.
One can invest a minimum of Rs 500 and a maximum of Rs 1.5 lakh in the Post Office Public Provident Fund. Investors above the age of years can open their accounts with Post Office to start saving in the PPF scheme. And that’s not all, as investors can also avail of tax benefits under the scheme under section 80C of the Income Tax Act. Also Read: E-Shram Update: Enrolment rising steadily on portal, 8.43 crore registered till Nov 20
Investors are allowed to make one withdrawal in a year or they can withdraw their full savings anytime. You can submit the account closure form to close your account to get the invested sum along with interest at the time of maturity. Also Read: PNB customers Alert! Data of 180 million users remained exposed for 7 months: Report
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