- Investment Schemes: Better schemes for senior citizens to small investors with a chance to get better returns
- Most post office schemes can attract investors, they are also better in terms of security.
As such, FD is considered a good option for investment. Because there is good interest in it, but due to the constantly falling economy, most banks have reduced the interest rate in FDs. In such a situation, where can small investors invest their money and where can they get better returns. For this, we will tell you about 5 such schemes which can prove beneficial for you.
Pradhan Mantri Vay Vandana Yojana
For Senior Citizen (Pradhan Mantri Vaya Vandana Yojana) is a better scheme. In this, senior citizens get a guaranteed pension at a fixed rate for 10 years by opting for monthly pension option. Not only this, on completion of the maturity date, the pensioner also gets good returns when he is alive. This scheme is operated by Life Insurance Corporation, ie LIC. A person can invest a maximum of Rs 15 lakh in the scheme. The PMVVY scheme also provides the facility of premature withdrawal.
Time deposit scheme
If you make FD for one to three years in the Post Office Time Deposit Scheme, you will get 5.5% interest. If you invest for 5 years, you get interest at the rate of 6.7 percent. After 10 years, your money will double. In this scheme any single person or joint account can be opened. Not only this, as a guardian account can be opened in the name of children above 10 years of age. It cannot be discontinued before 6 months.
Post office monthly income scheme
This post office scheme can become a source of income for you. In this, both single and joint accounts can be opened. You can invest minimum Rs 1000 and maximum Rs 4.5 lakh in a single account. While a maximum of 9 lakhs can be deposited in a joint account. The rate of interest is 6.6% on the investment. In this, your total return is on an annual basis.
Public provident fund
Interest up to 7.1 percent is available in this scheme. It is considered very safe from an investment point of view. The maturity period of PPF (Public Provident Fund) is 15 years. However, it can be extended further over a period of 5–5 years. For this extension, Form-H has to be submitted. Its returns are completely tax-free. Therefore, the maturity amount and interest on it is all tax-free.
National Savings Certificate
In the post office NIS (National Saving Certificate) you will get 6.8% annual return. Its maturity period is 5 years. But you can extend it 5 times for five years. By investing in it for a long time, your small savings can turn into millions. Under this scheme, you can invest from 100, 500, 1000, 5000 and 10 thousand rupees. However, there is no maximum investment limit.
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