Monday, March 1, 2021
  • About us
  • Contact
  • Privacy Policy
  • Sitemap
Business Khabar
  • World
  • Latest News
  • Business
    • Automotive
    • Industries
    • Opinion
  • Market
  • Tech
  • Money
    • Finance
    • Insurance
    • Investments
    • Schemes
  • Startups
  • Other
    • Top Stories
    • Entrepreneur
    • Career
    • Real Estate
No Result
View All Result
Business Khabar
  • World
  • Latest News
  • Business
    • Automotive
    • Industries
    • Opinion
  • Market
  • Tech
  • Money
    • Finance
    • Insurance
    • Investments
    • Schemes
  • Startups
  • Other
    • Top Stories
    • Entrepreneur
    • Career
    • Real Estate
No Result
View All Result
Business Khabar
No Result
View All Result
Home Money Schemes

Diwali 2020 Post Office Investment: Small funds will become big funds, your money will increase without any risk

Let us know about these savings schemes of the post office.

Nisha Chawla by Nisha Chawla
December 25, 2020
in Schemes
0
SBI Vs HDFC Bank Vs ICICI Vs Axis Bank: Where FD is more beneficial? What will be the return on 5 lakh investment
584
SHARES
3.2k
VIEWS
Share on FacebookShare on Twitter

You might also like

SSY: This post office scheme is getting the highest interest, benefit of tax rebate too

PM Kisan: PM farmer completed two years, under the scheme, 10.75 crore farmers got 1.15 lakh crore rupees

Modi government’s big decisions towards self-reliant India, Cabinet approves PLI scheme for IT hardware, pharmaceuticals

Diwali 2020 Post Office Investment Schemes: Tomorrow is the festival of Diwali. Diwali brings new happiness in a person’s life. This day is also considered auspicious for new beginnings and investments. In such a situation, you can invest in the savings schemes of the post office. Post office savings schemes provide safe and good returns. 100% of the entire money invested in post office schemes is guaranteed to be safe. Post office (TD) accounts can be opened from the post office to RD, PPF, NSC. Let us know about these savings schemes of the post office.

5 Year Recurring Deposit (RD)

RD opens at post office minimum installation of Rs 100 per month. Its maturity period is 5 years. The current interest rate on post office RD is 5.8 per cent per annum. In the account single or joint, the names of minor and mentally weak persons above 10 years of age can be opened. If it is opened before the 15th of the month, then your monthly installment should be deposited in it before the 15th of every month.

On the other hand, if it is opened after the 15th, then it must be deposited by the last date of the month. If the monthly deposit is not deposited by the due date, the post office charges you a default fee of Rs 1 per 100 rupees for every default. The RD account is suspended after 4 consecutive defaults. However, it can be revived within 2 months. But if it is not revived during this period, then there will be no deposit in it. After failing to make a monthly deposit, you must first pay the previous outstanding deposit and fees, then your existing monthly deposit will be approved.

Post office RD can be prematurely closed after 3 years. Nomination on post office RD, facility to transfer account from one post office to another, facility to open multiple RD in one post office, facility of online deposit from intra operable net banking / mobile banking, online deposit from India post payments bank saving account Facility, facility to extend the account after the maturity period ends and for 5 years is available. Loans can also be availed at Post Office RD. After 1 year of opening an account, you can take a loan of up to 50 percent of your existing balance.

Mutual fund investment a good option for youth, these five ways can increase returns

Post Office Time Deposit (TD)

TDs can be opened from 1 year to 5 years in the post office. Account can be opened for minimum 1000 rupees, there is no maximum limit. The current interest rate on post office TD ranges from 5.5 per cent to 6.7 per cent annually. TD can be done in single or joint, in the name of a minor or mentally weak person over 10 years of age.

Premature encashment cannot be done before completion of 6 months after post office TD. From 6 months onwards till the completion of 12 months of the account, if the TD is closed, then the interest rate of the Post Office Savings Account will be applicable, not the TD. Investment in post office TD of 5 years is exempt from tax under section 80C of Income Tax Act.

Nomination facility on post office TD, facility to transfer accounts from one post office to another, facility to open multiple TDs in the same post office, facility to convert single account to join or join account to single, account extension Facility, online account opening facility is available through intra operable netbanking / mobile banking.

Public Provident Fund (PPF)

Post office PPF account can be started from minimum 500 rupees. The current annual interest rate on the account is 7.1 percent. It is necessary to deposit minimum 500 rupees and maximum 1.5 lakh rupees in an account in a financial year. If the minimum annual amount is not deposited in the account, then the account becomes inactive and then activates again only after filling the previous balance, a charge of Rs 50 and an install. Also, if you want to take advantage of the entire interest of the month, then deposit it in PPF by the 5th of every month. Nomination facility at post office PPF, facility to open another PPF account in the name of Minor is available.

The post office PPF has a maturity period of 15 years and cannot be closed earlier. However, in select cases, it can be closed if required after completion of 5 years. These matters are as follows-

  1. Account holder, his spouse or dependent children with a fatal illness
  2. PPF account holder or dependent children for higher education
  3. On account abroad of account holder.

Investment in post office PPF, interest on it and the amount received on maturity, all three are exempt from tax under the Income Tax Act. Post office PPF account can be extended in block of 5 years after completion of maturity period. For this, application has to be given within one year from the maturity date. On account extension, it can be continued with or without new deposit. Interest will continue to accrue on the existing balance.

After the completion of one year of the post office PPF account and before the completion of 5 years, it can be taken a loan. Apart from this, it can also be withdrawn after the completion of 5 years of the account. Online deposit facility through intra operable netbanking / mobile banking at Post Office PPF, online deposit facility available from India Post Payments Bank Savings Account.

What are mutual funds buying before Diwali? These 10 stocks became likes, including ICICI Bank, HDFC Bank

National Savings Certificate (NSC)

The maturity period of NSC is 5 years. The current annual interest rate on this is 6.8 percent. Investment in NSC can be started from minimum 1000 rupees. There is no maximum investment limit. Investments can be made in the NSC in single or joint, in the name of a minor and mentally weak person over 10 years of age. Investments in this are tax rebate under Section 80C of Income Tax Act. NSCs can be transferred from one person to another once between the maturity date of issue.

Post Office Monthly Income Scheme Account (MIS)

The maturity period of MIS is 5 years. The current interest rate on this is 6.6 percent per annum, which is paid every month. An account can be opened in post office MIS with a minimum of 1000 rupees. The maximum investment limit is Rs 4.5 lakh for a single account and Rs 9 lakh for a joint account. Accounts can also be opened in the name of a minor and mentally weak person over 10 years of age. If the post office wants to prematurely close the MIS, this will be done only after the completion of 1 year.

Before the completion of 3 years of account, the premature will deduct 2% of the post office deposit on the encashment. At the same time, after completion of 3 years, 1% of the deposit is deducted on premature encashment. Nomination facility at post office MIS, facility to transfer account from one post office to another, facility to open multiple accounts in same post office, facility to convert single account to join and join account to single.

Nisha Chawla

Nisha Chawla

Related Posts

SSY: This post office scheme is getting the highest interest, benefit of tax rebate too
Schemes

SSY: This post office scheme is getting the highest interest, benefit of tax rebate too

by Nisha Chawla
February 26, 2021
agriculture minister narendra singh tomar appreciates pm kisan samman nidhi on its 2nd anniversary said its a milestone in indian history
Schemes

PM Kisan: PM farmer completed two years, under the scheme, 10.75 crore farmers got 1.15 lakh crore rupees

by Business News
February 24, 2021
modi cabinet decisions union cabinet approves PLI scheme for IT hardware and pharmaceuticals
Schemes

Modi government’s big decisions towards self-reliant India, Cabinet approves PLI scheme for IT hardware, pharmaceuticals

by Business News
February 24, 2021
Mirae Asset investment managers india, Mirae Asset Corporate Bond Fund, Mirae NFO, Mirae Asset Corporate Bond Fund investment option, Mirae NFO investment, SIP, Mutual Fund, Mirae Asset Corporate Bond Fund rating, Investment
Schemes

NFO: Great investment can be made by investing just Rs 5,000? This scheme has a chance till 9 March

by Business News
February 24, 2021
sbi investment plan Annuity Deposit Scheme know here the details eligibility interest rate features
Schemes

SBI: Every month there will be good income, understand every detail about annuity deposit scheme

by Nisha Chawla
February 22, 2021

Recommended

India's most fuel efficient automatic petrol cars under 9 lakh rupees

The highest mileage petrol cars, priced below 9 lakhs; Check details

March 1, 2021
Gionee Max Pro launched in india know price specifications camera features

Gionee Max Pro India Launch: 6,000mAh strong battery; Price only Rs 6,999, learn specifications

March 1, 2021
Floater Funds

Mutual Funds: What are floater funds, investors are placing bets in hopes of high returns

March 1, 2021

Don't miss it

  • All
  • Startups
  • Share Market
  • Entrepreneur
India's most fuel efficient automatic petrol cars under 9 lakh rupees
Automotive

The highest mileage petrol cars, priced below 9 lakhs; Check details

March 1, 2021
Gionee Max Pro launched in india know price specifications camera features
Tech

Gionee Max Pro India Launch: 6,000mAh strong battery; Price only Rs 6,999, learn specifications

March 1, 2021
Floater Funds
Industries

Mutual Funds: What are floater funds, investors are placing bets in hopes of high returns

March 1, 2021
Covid-19 Vaccination how to register online for vaccination slot booking process know full steps process in detail
Tech

Covid-19 Vaccination: How to register online at home for vaccination; Slot Booking, Learn Full Steps

March 1, 2021
SBI Home Loan Rate
Investments

SBI Home Loan: Home loan interest rates at record low, processing fee 100% waived till March 31

March 1, 2021
Gold Investment
Money

Keeping 5-20% gold in portfolio, looking at risk, why is gold bond the best option? 10 big reasons

March 1, 2021
MSI, Maruti Suzuki sales, Maruti Suzuki India, maruti suzuki february 2021 sales, maruti suzuki february 2021 domestic sales, maruti suzuki february 2021 export, MSI, Alto, S-Presso, Swift, Celerio, Ignis, Baleno, Dzire, Ciaz, Vitara Brezza, S-Cross, Ertiga, XL6, super carry, gypsy, auto sales february 2021, car sales february 2021, auto industry, indian automobile industry
Automotive

Maruti Suzuki: double digit growth in sales of compact and SUV segment, total sales up 11.8% in February

March 1, 2021
Technical Glitch in Trading
Industries

HDFC Securities halted trading on the NSE for a while, citing technical difficulties; NSE and BSE said – Everything is normal

March 1, 2021
Business Khabar

Business Khabar provides the latest news about market, financial, tech, sports and business news from around the world.

Learn more

Categories

  • Automotive
  • Business
  • Car & Bike
  • Career
  • Entrepreneur
  • Fashion
  • Featured
  • Finance
  • Food
  • Health
  • India
  • Industries
  • Insurance
  • Investments
  • Lifestyle
  • Money
  • Opinion
  • Real Estate
  • Schemes
  • Share Market
  • Startups
  • Tech
  • Top Stories
  • Travel
  • World

Important

JIOMART FASHION

BUSINESS PLAN

ATUM 1.0 BIKE

UPCOMING IPO

VEGETABLE BUSINESS

MARUTI UPCOMING CARS

BUSINESSMEN STORY

Nureca IPO

BUSINESS AFTER LOCKDOWN

IPL COACH SALARY

CSC REGISTRATION

Recent News

India's most fuel efficient automatic petrol cars under 9 lakh rupees

The highest mileage petrol cars, priced below 9 lakhs; Check details

March 1, 2021
Gionee Max Pro launched in india know price specifications camera features

Gionee Max Pro India Launch: 6,000mAh strong battery; Price only Rs 6,999, learn specifications

March 1, 2021
Floater Funds

Mutual Funds: What are floater funds, investors are placing bets in hopes of high returns

March 1, 2021

Copyright © 2020 Business Khabar

No Result
View All Result
  • Home
  • Larest News
  • World
  • Share Market
  • Business
    • Automotive
    • Industries
    • Startups
    • Entrepreneur
  • Tech
  • Money
    • Schemes
    • Investments
    • Finance
  • Lifestyle
    • Fashion
    • Food
    • Health
    • Travel
  • Reviews
    • Car & Bike
  • Top Stories
  • Real Estate
  • Contact Us
  • About us

Copyright © 2020 Business Khabar

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.