Nowadays if you are thinking of investing somewhere but are confused about where to invest the money then there are many schemes in which you can get good money by investing. In this scheme, not only will your money be safe, but you will also get a good return on your deposit. Today we are telling you about 3 such schemes in which you can invest according to your need.
Special matters connected with PPF
An account can be opened in a bank or post office under this scheme. Apart from this it can also be transferred to any bank or any post fee.
This account can be opened for only Rs. But then it is necessary to deposit Rs.500 every year. A maximum of Rs 1.5 lakh can be deposited in this account every year.
The plan is for 15 years. From which money cannot be withdrawn in the meantime. But after 15 years the plan can be extended for 5-5 years.
This account cannot be closed before 15 years. But after 3 years the loan can be taken against this account. Anyone can withdraw money under the rules from the 7th year of this account if they wish.
The government reviews interest rates every three months. This interest rate can be more or less. The account is currently earning 7.1% interest.
By investing in this scheme Rs. Tax exemption up to Rs 1.5 lakh can be obtained under 80C.
How much return will you get if you invest for 15 years?
Under this scheme, if you invest Rs 1 lakh for 15 years, you will get Rs 2,87,386. That is, you will get more than Rs 1,87,386 lakh in interest.
Time deposit scheme
A fixed deposit account can be opened at the post office by cash or check.
According to India Post, in the case of a check, the account will be deemed to have been opened from the date of receipt of the check in the government's account.
This account can also be opened in the name of a minor and as a joint account in the name of two adults.
A minimum deposit of Rs. 1,000 is required to open a Post Office FD account. It has no maximum limit.
The Post Office Time Deposit Account offers interest at a rate of 5.5% to 6.7% for a period of 1 to 5 years.
Deposit tax will be paid at 5.5% for 1 to 3 years and 6.7% for 5 years investment.
A tax exemption of up to Rs 1.5 lakh can be availed under Section 80C of the Income Tax Act for 5 years of investment.
Under this scheme interest is paid on an annual basis, but it is calculated on a quarterly basis.
How much return will you get if you invest for 15 years?
Under this scheme, if you invest Rs 1 lakh for 15 years, you will get Rs 2,79,796. That is, you will get interest of more than Rs 1,79,796 lakh.
Special matters connected with RD
Post Office RD is currently earning interest at the rate of 5.8% per annum. RD is a kind of small savings scheme. Anyone can open their own account in banks besides post office.
You can invest a minimum of Rs 100 per month in this RD scheme. You can deposit any amount in multiples of 10 more than this. There is no limit on the maximum deposit amount.
One or more RD accounts can also be opened. This account can also be opened in the name of young children. If you are 10 years old or older you can run it yourself. Together 3 people can open a joint account.
How much return will you get if you invest for 15 years?
Under this scheme, if you invest Rs 1,000 per month for 15 years, you will get Rs 2,86,611. That is, you will get interest of more than Rs 1.06 lakh.
Where to invest?
The three schemes have their own merits and demerits. A PPF plan would be good if you could invest your money for 15 years. It is earning 7.1 per cent interest. But he will not be able to invest more than Rs 1.5 lakh in a year. In such a case, if you want to invest more than Rs 1.5 lakh per annum, the time deposit scheme would be appropriate as there is no maximum deposit limit. The RD scheme, on the other hand, is for people who cannot deposit money together. A large amount can be prepared by depositing money in it every month. You can choose the right plan for you according to your financial situation.
Special matters connected with PPF
An account can be opened in a bank or post office under this scheme. Apart from this it can also be transferred to any bank or any post fee.
This account can be opened for only Rs. But then it is necessary to deposit Rs.500 every year. A maximum of Rs 1.5 lakh can be deposited in this account every year.
The plan is for 15 years. From which money cannot be withdrawn in the meantime. But after 15 years the plan can be extended for 5-5 years.
This account cannot be closed before 15 years. But after 3 years the loan can be taken against this account. Anyone can withdraw money under the rules from the 7th year of this account if they wish.
The government reviews interest rates every three months. This interest rate can be more or less. The account is currently earning 7.1% interest.
By investing in this scheme Rs. Tax exemption up to Rs 1.5 lakh can be obtained under 80C.
How much return will you get if you invest for 15 years?
Under this scheme, if you invest Rs 1 lakh for 15 years, you will get Rs 2,87,386. That is, you will get more than Rs 1,87,386 lakh in interest.
Time deposit scheme
A fixed deposit account can be opened at the post office by cash or check.
According to India Post, in the case of a check, the account will be deemed to have been opened from the date of receipt of the check in the government's account.
This account can also be opened in the name of a minor and as a joint account in the name of two adults.
A minimum deposit of Rs. 1,000 is required to open a Post Office FD account. It has no maximum limit.
The Post Office Time Deposit Account offers interest at a rate of 5.5% to 6.7% for a period of 1 to 5 years.
Deposit tax will be paid at 5.5% for 1 to 3 years and 6.7% for 5 years investment.
A tax exemption of up to Rs 1.5 lakh can be availed under Section 80C of the Income Tax Act for 5 years of investment.
Under this scheme interest is paid on an annual basis, but it is calculated on a quarterly basis.
How much return will you get if you invest for 15 years?
Under this scheme, if you invest Rs 1 lakh for 15 years, you will get Rs 2,79,796. That is, you will get interest of more than Rs 1,79,796 lakh.
Special matters connected with RD
Post Office RD is currently earning interest at the rate of 5.8% per annum. RD is a kind of small savings scheme. Anyone can open their own account in banks besides post office.
You can invest a minimum of Rs 100 per month in this RD scheme. You can deposit any amount in multiples of 10 more than this. There is no limit on the maximum deposit amount.
One or more RD accounts can also be opened. This account can also be opened in the name of young children. If you are 10 years old or older you can run it yourself. Together 3 people can open a joint account.
How much return will you get if you invest for 15 years?
Under this scheme, if you invest Rs 1,000 per month for 15 years, you will get Rs 2,86,611. That is, you will get interest of more than Rs 1.06 lakh.
Where to invest?
The three schemes have their own merits and demerits. A PPF plan would be good if you could invest your money for 15 years. It is earning 7.1 per cent interest. But he will not be able to invest more than Rs 1.5 lakh in a year. In such a case, if you want to invest more than Rs 1.5 lakh per annum, the time deposit scheme would be appropriate as there is no maximum deposit limit. The RD scheme, on the other hand, is for people who cannot deposit money together. A large amount can be prepared by depositing money in it every month. You can choose the right plan for you according to your financial situation.
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