Post Office Saving Schemes
Post Office Saving schemes refer to various financial products or investment options that individuals can use to save and grow their money over time. These schemes are typically offered by banks, financial institutions, and the government to encourage people to save money for specific purposes or for their future financial security.
Public Provident Fund (PPF): PPF is a long-term savings scheme offered by the government in India. It has a lock-in period of 15 years, and the deposits are eligible for tax benefits. The interest earned is tax-free.
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Kisan Vikas Patra is a small saving scheme with the post office that doubles the invested amount over a period of time. The tenure depends on the applicable rate of interest that is subject to revision by the government every quarter.
the Post Office Monthly Income Scheme (POMIS) is a savings scheme offered by the Indian government through the India Post (the Indian postal system). It's designed to provide a regular and stable monthly income to investors who want to invest a lump sum amount.
The Senior Citizen Savings Scheme (SCSS) is a government-backed savings scheme in India that is designed to provide financial security and regular income to senior citizens. It is one of the many small savings schemes offered by the Government of India through the post offices and authorized banks
Mahila Samman Savings Certificate is a risk-free scheme dedicated towards Women and Girls of all age groups. This scheme has been designed with the intent of encouraging women and Girls to save and invest. The account opened under this scheme should be a single-holder type account.
In a Post office RD scheme, individuals deposit a fixed amount of money at regular intervals (usually monthly) for a period of 60 months. The interest rates are fixed, and the maturity amount is calculated based on the principal and interest accrued.