There is no risk of any kind by investing in any scheme of Post Office
The Corona epidemic (Covid-19) has caused uproar in the whole world including India. Lockdown is in place in most of the country. In such a situation, economic crisis has arisen in the world including India. In these circumstances, the risks in the market have increased more than before.
In such a situation, most of the investors are looking for an option where they can have less risk and also get better returns. It is usually not easy to make a big investment in one go. In this case, Post Office is the best option for investment.
If you invest money in any scheme of Post Office, then you do not have to worry about your money. There are many schemes of Post Office, in which if you invest, you can become a millionaire in a few years. Yes, today we are giving you information about some special schemes of Post Office, from which you can earn a great benefit. The scheme has many great offers ranging from 5 years to 15 years.
Here are 4 great schemes
The four best schemes that make Post Office a millionaire include Public Provident Fund (PPF), Recurring Deposit (RD), National Savings Certificate (NSC) and Time Deposit (TD). Through these schemes, investors can prepare a large fund in a few years.
For example, in PPF, the investors can deposit a maximum of 1.5 lakh rupees per year and the monthly maximum of 12,500 rupees. The maturity of this scheme is 15 years, which you can extend up to 5-5 years further. The scheme currently offers an annual interest rate of 7.1 percent.
If you invest 1.5 lakh rupees annually and keep investing for 25 years, then your total investment will be Rs 37,50,000.
At 25 years after maturity, this amount will be Rs 1.03 crore, because in this you get the benefit of compounding interest. Apart from this, you can deposit a maximum amount of monthly amount in RD. There is no limit set. Here, if we invest 12,500 rupees every month on par with PPF, then your big fund can be ready.
You can invest in RD for any number of years. It gets 5.8% compounding interest annually. If you put a maximum annual deposit of Rs 1,50,000, then after 27 years according to the compounding interest, your amount will be around 99 lakh rupees. Your total investment in this will be 40,50,000 lakh rupees.
If you invest in NSC, then you can get tax exemption by investing up to Rs 1.5 lakh per year in NSC under Section 80C of Income Tax. The maturity period in this is 5 years. It is getting interest at the rate of 6.8 percent per annum.
Talking about the interest rate, the interest rate is reviewed every quarter in the second small savings scheme, but at the time of investment in NSC, the interest rate remains the same for the entire maturity period. The maximum limit for deposit in FD is not fixed.
Under the Post Office time deposit, the interest is received at 6.7% per annum on a 5-year deposit. If you get deposit in this scheme: 15 lakhs, interest rate: 6.7% per annum, then you can easily become a millionaire in 30 years.