There are many such schemes of Post Office in which customers get a chance to earn great money. These schemes have a lot of advantages in terms of small savings. With this, income tax is also exempted for investing in these schemes. If you also want to take advantage of these schemes, then there are some special schemes-
At present, 5.8% interest is received in the Recurring Deposit (RD) of the post office. If you invest in such a way to double the money, then your money will double in about 12 years.
This is a time deposit scheme in the post office. Maturity is for 5 years. You can start investing in this scheme with at least 200 rupees. In this, interest is given at the rate of 5.5 per cent for the first 3 years and thereafter at the rate of 6.7 per cent in the 5th year. In this, your money will double in about 13 years. There is no tax on the interest received on this scheme.
The scheme offers 4 percent interest. In such a situation, it may take a long time for your money to double. Overall, your money can be doubled in about 18 years.
This post office senior citizen saving scheme is currently receiving interest at the rate of 7.4 percent. The interest accrued on this is credited in the account on a quarter to quarter basis. The special thing of this scheme is that on this, there is also a facility of tax exemption under Section 80C of the Income Tax Act. By investing in it, your money will double in about 10 years.
At present, the Sukanya Samriddhi scheme of the post office is getting interested at the rate of 7.6 percent. In this scheme being run for girls, it may take about 10 years to double the money.