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India's Post Office investment-savings plans are government-backed, and they provide assured, risk-free returns. Popular schemes, including the Public Provident Fund (PPF), Senior Citizen Savings Scheme (SCSS), and Monthly Income Scheme (MIS), are among these schemes, which target risk-averse investors. Additionally, they provide tax benefits under Section 80C of the Income Tax Act up to Rs 1.5 lakh. Post Office schemes provide different interest rates. 

This article talks about eight such financial schemes that provide up to an 8.2 per cent interest rate. Take a look:

In this Post Office scheme, investors need to invest just once. The scheme gives a 7.40 per cent interest rate per annum. You can open a POMIS account with Rs 100 and then invest in multiples of Rs 1,000. In one account, the maximum investment is Rs 9 lakh, including investment in any joint account.

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If you want to do premature closure, it is allowed only after one year and attracts a 1–2 per cent penalty, depending on when it is closed.

The second scheme on the list is Kisan Vikas Patra (KVP), which provides a 7.50 per cent interest rate per annum. In this, you will have to invest a minimum of Rs 1,000, and there is no limit on maximum investment. This scheme doubles your investment over a fixed tenure.

Sukanya Samriddhi Yojana (SSY) is a girl child special scheme. Under this scheme, a girl's parents or legal guardians can deposit a maximum of Rs 1.50 lakh in a year. SSY provides an 8.2 per cent interest rate. The scheme also offers tax benefits.

Senior Citizens Savings Scheme (SCSS) gives an 8.20 per cent interest rate. Only one deposit in one account is allowed under SCSS in multiples of Rs 1,000 and not more than Rs 30 lakh. The scheme offers tax benefits and regular income for senior citizens. 

National Savings Certificate (NSC) provides an interest of 7.70 per cent per annum compounded annually. One can invest a minimum of Rs 1,000, and there is no maximum limit. NSC has a fixed 5-year tenure and offers guaranteed returns.

Under this recurring account (RD), you can get an interest of 6.70 per cent per annum. One can deposit a minimum of Rs 100, and there is no maximum limit of investment. In RD, loan up to 50 per cent of the balance available after 12 regular deposits. It can be closed prematurely after three years; if closed early, a lower interest rate applies.

Minimum deposit required is Rs 500 per financial year to up to Rs 1.5 lakh. The scheme gives 7.10 per cent interest rate annually and the interest earned on PPF is tax-free. The lock-in period is 15 years.

It provides a 4 per cent per year interest rate on individual/joint accounts. The minimum amount required to start an account is Rs 500.

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A senior sub-editor with Zee Business, Bhawna has an experience of almost a decade in writing and reporting in the financial industry. She has previously worked with companies like VCCi ...LATEST NEWSBy accepting cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.