- Post Office Schemes: There may be a change in the post office interest rates from October 1 (Post Office Interest Rates 2020).
- Every three months the post office reviews interest rates.
- During this review, interest rates may be cut or may remain constant.
- Apart from this, the government can also increase interest rates.
New Delhi – Post Office Schemes:Â If you are also a post office customer then this news is important for you. There may be a change in the post office interest rates from October 1. Let us tell you that every three months the post office reviews the interest rates. After this, the new rates are applicable for the next quarter on the first date. During this review, interest rates can be cut or remain constant. Apart from this, the government can also increase interest rates. In such a situation, if you want to invest, then before 30 September you can invest at current interest.
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Best Investment Plans in Post Office
Explain that the post office is the first choice of investors. Because here you get a good return on investment, plus your money is also completely safe. In such a situation, you can invest without any risk. The post office has run a number of schemes for different sections where you can invest.
Post Office Saving Account
In a post office saving account, you get 4% interest. In a savings account, customers must keep at least 500 rupees in the account at all times. Explain that earlier the minimum balance limit was only 50 rupees. Now, if there is no 500 rupees in the account, then a penalty of 100 rupees will be imposed at the end of the financial year.
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Post Office FD
Post Office Fixed Deposit Post office fixed deposit will give investors interest at the rate of 5.8%. The post office fixed deposit has an interest rate of 5.5% for 1-3 years. The 5-year fixed deposit has a 6.7% interest rate. Apart from this, investors will also get tax exemption under Section 80C of Income Tax Act, 1961 on 5 years fixed deposit in the post office.
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National Saving Certificate (NSC)
The National Savings Certificate is also a good investment option. The maturity period of this scheme is 5 years. The current rate of interest on NSC is 6.8% and interest is compounded annually.
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Source: www.patrika.com
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