The government has not changed the interest rates of small savings schemes for the September quarter. That is, you can get a big profit from the decision of the government.
Actually, the Post Office runs many schemes and the most important thing about them is that there is a government guarantee on it. That is, your money is safe and it will not be looted. Let us tell you about the post office and all their savings schemes to invest money and then after how much time your money will be doubled.
Post-Office Term Deposit (POTD)
The Post-Office Term Deposit (POTD) of 1 year to 3 years is currently getting an interest of 5.5%. If you invest in this scheme, your money will double in about 13 years. Similarly, you are getting an interest of 6.7% on a time deposit of 5 years. If money is invested with this interest rate, then your money will double in about 10 years.
Post Office Savings Bank Account
If you keep your money in a post office savings account, then you may have to wait a long time for the money to double. Because it gives interest only at 4.0 percent annually, that is, your money will double in 18 years.
Post Office Recurring Deposit
At present, 5.8% interest is being given to you on Post Office Recurring Deposit (RD), so if the money is invested at this interest rate, it will double in about 12.41 years.
Post Office Monthly Income Scheme (POMIS)
Post Office Monthly Income Scheme (POMIS) is currently getting an interest of 6.6%, if money is invested at this interest rate, it will double in about 10 years.
Post Office Senior Citizens Savings Scheme
Post Office Senior Citizen Saving Scheme (SCSS) is currently being given an interest of 7.4%. Your money will double in this scheme in about 9 years.
Post Office PPF
The 15-year Public Provident Fund (PPF) of the Post Office is currently getting an interest of 7.1%. That is, it will take about 10.14 years to double your money at this rate.
Post Office Sukanya Samriddhi Scheme
The post office’s Sukanya Samriddhi Account scheme is currently getting the highest interest rate of 7.6%. In this scheme being run for girls, it will take about 9 years to double the money.
Post Office National Saving Certificate
At present, 6.8% interest is being given on the National Saving Certificate (NSC) of the Post Office. This is a 5-year savings plan, in which income tax can also be saved by investing. If money is invested at this interest rate, it will double in about 10 years.