Q: Can I check my post office account online? 4.5 lakh in a single account and Rs.9 lakh in a joint account. The applicable interest rate on the National Savings Certificate account is 6.8% which is compounded annually but payable at maturity. PPF may be opened in a bank or post office where your money gets invested for 15 years, which can be extended by another 5 years. This is another major benefit offered by Post Office Savings Scheme. Tax benefit is subject to changes in tax laws. As one of the lucrative options of investment of the post-office savings scheme, the scheme offers an interest rate of 7.6%  per annum ( applicable from 01-04-2020). Post office provides the investors with easy enrolment process to any of the savings scheme. The deposits made under the scheme are applicable for tax exemption under section 80C of the IT Act. Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. Under this scheme, the interest is payable annually but computed quarterly. The account can be opened by a single adult, for the joint account (maximum 3 adults), guardian o behalf of minor or person of unsound mind and minor above  10 years of age. **Discount is offered by the Insurance company as approved by IRDAI for the product under File & Use guidelines #On the basis of your profile, CIN: U74999HR2014PTC053454 Policybazaar Insurance Brokers Private Limited (formerly known as Policybazaar Insurance Web Aggregator Private Limited) Policybazaar is currently registered as a Web aggregator by IRDAI. Premature withdrawal is charged at penalty of 2%. The Post-office savings schemes are offered by the Department of Post under the Ministry of Communication of the Government of India. Post office saving scheme offers simple application process and minimal documentation to subscribe for the scheme. Post Office Recurring Deposit. Best Lump sum Investment options for Retirees / Senior Citizens to get guaranteed regular Income in 2020 & beyond! Let’s take a look at the interest rate from 01.04.2020 to 30.06.2020. Then, Post Office Savings Scheme is a one-stop solution for you. Policybazaar does not in any form or manner endorse the information so provided on the website and strives to provide factual and unbiased information to customers to assist in making informed insurance choices. As a safe and lucrative option of investment, the scheme also offers an opportunity to save on tax. In this way, if you invest Rs.10, 000 in Kisan Vikas Patra today then upon maturity of this scheme, which is after 124 months, you will get Rs.20, 000. The national savings time deposit scheme account comes with a maturity period of 1 year, 2 years, 3 years, and 5 years. Q: What is the minimum balance required for an account? Post Office Saving Account customer to submit duly filled request form in respective Post Office, After enabling desired service in customers Savings Accounts by Post Office, customer will get activation code on his/her mobile within 48 hours to proceed further. Aditya Birla Sun Life Tax Relief 96 Direct-Growt.. Post office deposit schemes' interest rates. But assuming a constant annual inflation rate of 4.2 percent (the figure for year-on-year CPI inflation at the end of April 2011), the item will cost you R36 852 five years from now. Besides this, the contribution made towards PPF accounts up to the maximum limit of Rs. 2) Interest rates on these Post Office FDs would vary based on the tenure. Investing in stocks might not be everyone's cup of tea as it's a volatile asset class and … Under this pension savings scheme, an individual can start investing with a minimum sum of Rs.1000/- there is no applicable cap on the maximum investment amount. The scheme is offered by India post and is very popular in rural and remote areas of India. These instruments are also known as small savings schemes. The interest rate applicable to the PPF account is regulated by the central government every quarter. Moreover, subscribers can convert the single account into a joint account and vice versa. The post office offers various types of deposit schemes for those looking to invest. Let common man also have a reasonable share in the GDP of country. There are different types of product offered under Post-office Savings Scheme. Mutual Fund. … Latest NSC interest rate in … Some best post office investment schemes are as … *Standard T&C Apply. Name. The individual can invest in the multiple of INR.1000/- and can make a maximum investment up to a limit of Rs. Ans: The post office savings account requires a minimum balance of Rs.20. PPF. You can open the account with a minimum investment of Rs.1000, there is no cap applicable to the maximum investment. The individual can open the PPF account with a minimum investment of Rs.500 and can invest up to a maximum Rs.1.5 lakh in a financial year. Post Office Recurring Deposit: It is basically a monthly saving scheme for five years that provides … Best Investment Options for 3 months to 1 Year The following are a few investment ideas that work well in short run. Along with the address proof, the investors will also need to submit the ID proof. A Term Deposit (TD) can be placed for any of the four tenures- 1, 2, 3, and 5 years. The product information for comparison displayed on this website is of the insurers with whom our company has an agreement. When the PO term deposit account matures, the same account will be automatically renewed for the period it was initially opened for. Thus, this scheme offers profitable return to the investors. The interest rate applicable to the National Savings Monthly Income account is 6.6%  per annum payable monthly. SSY has a tenure of 21 years or until the girl child is married after the age of 18 years. helpful to invest in SIP. Stocks: As equity investments that represent a share of ownership in a company or entity, stocks are one of the best investment avenues for long-term investors. In this post office savings scheme, the subscribers can choose the nominee at the time of opening the account or after opening the account. Approval for registration as an Insurance Broker is pending with the IRDAI. https://www.bankbazaar.com/fixed-deposit/post-office-fixed-deposit-rate.html The national savings recurring deposit account comes with a maturity tenure of 5 years from the date of opening the account and can be extended for a further 5 years. also offer tax-saving benefits under section 80C of the Income-tax Act, 1961. Days Trial. The subscribers also have the option to transfer the account from one post-office to another and can also convert the single account into a joint account and vice versa. Days Trial Post-office savings schemes are specifically designed for rural and urban investors who are looking for a secured investment avenue and want to gain the benefit of guaranteed return. Double your money. NSC or Bank FD: Which is better tax-saving option? returns 3) Post office 5 years Tax Saving FD is generally invested for tax saving purpose. Email (optional) Enter value of expression. PRODUCT SOLUTIONS. Currently, the next interest review in due in Feb 2021. The interest rate calculated on a yearly basis and is compounded annually. We Would love to interact with you, Know the Right Investment Products to Invest in Times of COVID-19, Capital Guarantee Plan Investment in Coronavirus Pandemic, Want to Save Tax? Even though PPF comes with a lock-in period of 15 years, partial withdrawals can be made in case of emergencies. Post Office Saving Scheme in Hindi पोस्ट ऑफिस बचत योजना - 2020, आज के समय में पोस्ट ऑफिस, सेविंग (post office saving) करने का सबसे अच्छा और सरल माध्यम The interest rate applicable to the PPF scheme is 7.1% per annum which is compounded annually. National Savings Certificate (NSC) NSC VIII Issue (5 years) – Interest rate of 8.5% per annum w.e.f. POST A COMMENT . POST OFFICE RD calculator online - Calculate POST OFFICE RD Interest rate using POST OFFICE Recurring Deposit calculator 2020. Those who want to invest in Kisan Vikas Patra have to invest at least Rs.1, 000. 1. Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer. Kisan Vikas Patra Certificates can be purchased by, The KVP certificates can be transferred to one person to another or from one post office to another. This post office scheme is ideal for investors who want to have a regular flow of income after retirement or for those who want to gain a steady flow of regular income. The maximum maturity period of the policy is 5 years and the account can be transferred from one post office to another. Post-office time deposits are one of the safest and best short-term investment plans which offer assured returns to the investors. As per one’s own financial objective and investment needs the investors can choose to invest in these schemes. 1) Liquid Mutual Funds that can give 5% to 8% p.a. The Ponmagan Podhuvaippu Nidhi can be opened any time before the boy child attains the age of 10 years. Are you looking for a risk-free investment option, which is ideal for tax saving too? The NSRD post office account interest rate is 5.8% per annum which is compounded quarterly. Earned interest is taxable as per your personal income tax slab. Post office NSC interest rate is 6.8% NSC is offered for 5 years tenure. The interest rate of Post Office Savings Scheme is updated by the Ministry of Finance quarterly. Includes DocuBay and TimesPrime Membership worth ₹1499 & ₹999 resp. Basic Saving Account – In this plan, the subscriber gets 4% interest on their savings. You can open this account for your boy child, but it will also be required that you open a joint Monthly Income Scheme account which is clubbed with yours as well. The applicable rate of interest is notified quarterly by the government from time to time and is payable monthly. The scheme offers the facility to choose the nominee at the time of opening the account. PPF account holders can invest up to Rs 1.5 lakh in a financial year while the minimum deposit required is Rs 500. Also, the benefit of tax exemption is applicable on interest earned on KisanVikasPatra scheme. Moreover, KVP also offers the facility to choose the nominee at the time of opening the account or after opening the account.Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer. Ans: Yes, tax benefits can be availed on the investment made in post-office scheme U/S 80C of the Income Tax Act. The following are some of the benefits offered by Post-Office Savings Scheme. Check POST OFFICE RD rate of interest and calculate RD final amount via POST OFFICE RD Calculator on The Economic Times. PPF and Sr Citizens Savings scheme are backbones of those without pension. The account can be opened by a single adult, for the joint account (maximum 2 adults), minor above 10 years age, guardians on behalf of the minor, or a person of unsound mind. Follow, like, tweet or post. Some of these schemes such as NSC, SCSS etc. PPF is specifically designed for individuals who are looking for a safe investment option and who wants to create a financial cushion in the long-term so that they can have a financially secured life after retirement. Ans: Yes, the withdrawal process from post-office is similar as withdrawals via banks in all the branches across India. Interest rate of post office sr citizens savings must be reviewed by the government up to Ten lacs Amnt interest Amnt must be 9.5 percent, Inciting hatred against a certain community, 15 This is the best scheme to invest for a number of reasons. ☆ ☆ ☆ ☆ ☆ Rated 4.4, based on 14 reviews. Product information is authentic and solely based on the information received from the Insurer© Copyright 2008-2020 policybazaar.com. Interest rates are ranging between 5.5% to 6.7%, depending on the tenure of the FD. Backed by the government of India, the National Savings Time Deposit scheme offers four accounts with different maturity periods. Invest your money wisely is all that we can advise! Tax benefit is subject to changes in tax laws. The National Savings Recurring Deposit Account allows premature closure after the completion of 3 years from the date of opening the account. Manoj Kumar, posted on 21 Jan 20 5:26 PM. Moreover, these schemes carry minimum risk as compared to the other investment options. The post office savings account offers a yearly interest rate of 4% on the individual or joint accounts. *The information provided on this website/page is only for information sake. Their purposes are different and hence interest rates cannot be as low as it is today. Some of the scheme like National Savings Certificate offers tax exemption Under Section 80C of the Income Tax Act on the deposition amount. The minimum amount required to open the account is INR 1000/-. NRIs can open trading account but they can’t do day trading in stocks – they can only sell the stocks that are already delivered to them. Tenure- one can open post office time deposit scheme for a tenure of 1 year, 2 years, 3 years or 5 years. Sharp Insight-rich, Indepth stories across 20+ sectors, Access the exclusive Economic Times stories, Editorial and Expert opinion, Mirae Asset Emerging Bluechip Fund Direct-Growth, ICICI Prudential Bluechip Fund Direct-Growth. Post Office Monthly Income Scheme (POMIS), National Savings Recurring Deposit Account, National Savings Certificate (VIII Issue) Account, National Savings Certificates (VIII Issue) Account, For joint account (A) ( Maximum 3 individuals), For joint account (B) ( Maximum 3 individuals). Just like bank FD, one can also open a term deposit account in the Post office for any of the four tenures available-1, 2, 3 and 5 years. These schemes are a remunerative option of investment as it not only offers safety but also provides the benefit of guaranteed return. Q: Do the post office schemes provide tax benefits? To help you plan where to invest, here’s a look at the top 10 investment instruments chosen by investors in India. In the case of NSC VIII, the transfer of certificates from one account holder to another can be done only once from the date of issuance to the date of scheme maturity. The interest rate calculated on a yearly basis and is compounded annually. For the population of India, these schemes are considered as the most safe, easy, efficient and safe investment options. A five-year time deposit also offers tax benefit under section 80C. 9 Best SIP Plans For 1 Year Investment 2020. Backed by the government of India, this is one of the most popular tax saving investment options available in India. Written By: PolicyBazaar - Updated: 28 December 2020. Direct equity. It is regarded as one of the best investment avenues for every investor who is looking for the risk-free investment avenue to procure some amount every month systematically. The public provident fund comes with a maturity period of 5 years, which can be further extended for 5 years within 1 year of maturity. 1.5 lakh is eligible for tax exemption under Section 80C of Income Tax Act. If the investment is sold within 1 year of purchase, tax is 15%. Post office term deposits. The scheme also offers the facility to choose the nominee while opening the account or after opening the account. Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana - 122001, IRDAI Web aggregator Registration No. If the investment is sold after a year, there is 10% tax. This will alert our moderators to take action. How helpful was this page ? As one of the lucrative options of investment of the post-office savings scheme, the scheme offers an interest rate of 7.6% per annum ( applicable from 01-04-2020). Moreover, the interest earned on the PPF investment is also exempted from tax. The interest of many post office rates increased from 2011 December onwards. For reprint rights: PPF interest rate should be raised by 100 bps to 8.1 percent. – Senior Citizen Savings Scheme (SCSS): An individual of the age of 55 years or more but less than … A minimum contribution of Rs.100 per month is required to open the account. Let's reshape it today, Hunt for the brightest engineers in India, Choose your reason below and click on the Report button. Tomorrow is different. Even a minor above the age of 10 years can invest in the scheme. Q: How do I invest in the post office monthly income scheme? National Savings Recurring Deposit scheme is specifically designed to help the small investors to accumulate capital in order to meet the short-term and long-term future financial needs. The Post Office Monthly scheme involves a monthly payment that has to be made, based on which the investor will receive an amount on every investment that is made. ... Post Office 1 Year Time Deposit: 6.9 %: Post Office 2 Year Time Deposit: 6.9 %: As a part of the ‘Beti Bachao, Beti Padao” campaign, Sukanya Samriddhi Yojana is a government-backed savings scheme, which is specifically designed to secure the financial future of the girl child. Ans: Yes, you can check the post-office account online by visiting the official website of Indian Post-office. 7 Best Short Term Investment Options in India. Tenure: One can invest in post office time deposits which have tenures of … The account can be open by any individual, maximum of 3 adults in case of the joint account, minor above 10 years of age, or a guardian of the person of unsound mind/ minor. One of the prominent investment options in India- mutual funds is the ideal investment … National Savings Certificates can be purchased by. A depositor can make a contribution only 12 number of times in a year (Any number of times but the maximum contribution of Rs.1… The investors can open the account with a minimum cash payment of Rs.500. Moreover, the scheme also offers the facility to choose the nominee while opening the account. To help you now more about Post-Office Savings Scheme, further in this article we have discussed in detail the schemes available with the postal department. Guardian on behalf of a minor or on behalf of a person of unsound mind. This shows investment in post office can be a good savings plan The account can be opened by a single adult, for the joint account (maximum 3 adults), guardian o behalf of minor or person of unsound mind and minor above  10 years of age. However, the interest rate of these schemes ranges between 4%-9%. These are the top five Post-Office Schemes which can be invested in to get Section 80C benefits. However, as with all investment plans, you will need to do your homework, before you start investing your hard-earned money. 1 - 1 of 1. *Standard T&C Apply. LIST – Mutual Funds for NRI – Complete Guide. Submit. This is a post-office savings scheme option, which is available in the form of certificates. ; The minimum contribution to be made each year is Rs.500, whereas the depositor parents can contribute maximum up to Rs.1.5 lakh under this scheme. They park your additional funds, ensure income while maintaining liquidity. 15 As of May 2017, the interest rate offered on this scheme is 7.6% per annum. The interest rate of post-office savings scheme is fixed through the year and is subject to change from time to time as declared by the government. However, the withdrawal can be made after completion of 5 years of activation of the account. +Includes DocuBay and TimesPrime Membership worth ₹1499 & ₹999 resp. All Rights Reserved.. Ans: The investment in Post Office Monthly Income Scheme can be done easily and needs minimal documentation. 06 Registration Code No. Kisan vikas patra scheme was introduced by the India Post-Office with an objective to initiate long-term financial discipline in people. Investing for the long-term like in PPF helps the investors to accumulate fund for the future and fulfil their long-term financial objectives of life. Your Reason has been Reported to the admin. The minimum amount one can invest in KVP is … The USP of these schemes is their sovereign guarantee, i.e., they are backed by the central government. The interest of savings deposit increased from 3.5% to 4%. Insurance is the subject matter of solicitation.Visitors are hereby informed that their information submitted on the website may be shared with insurers. As a fixed rate small savings scheme option, it is specifically designed to double the one-time investment in a period of approximately  10 years & 4 months. As a government-backed savings schemes,  these are very easy to enroll and require limited documentation. 1) Post Office Fixed deposits are available for 1 year, 2 years, 3 years and 5 year tenure. As a tax saving investment option Sukanya Samriddhi Yojana offers the benefit of tax exemption on the investment made towards the account up to the maximum limit of Rs.1.5 lakh U/S 80C of the IT Act. Sukanya Samriddhi Yojana account can be open by the parent of the girl child below the age of 10 years. IRDAI/WBA21/15 Valid till 13/07/2021. You can analyse each scheme and the benefits which it offers to finally select the best one for your investment goal. As one of the safest option of investment, post-office schemes are government backed schemes, which offers reliability and are low risk investment options. Mutual Funds Most of the Post Office Savings Scheme comes with a long-term investment option of 15 years. These are the savings scheme options offered by Post-Office. Below are the safest (very low risk) saving / investment options to get guaranteed regular income ; Post office Senior Citizens Savings Scheme (SCSS) Features: This is one of the best risk-free saving option for Senior citizens. Here are some factors that make investing in a post office scheme an effective investment option: Ensures guaranteed returns through interest which currently is up to 8.7%. how to invest in post office time deposit, Three different accounts offered by India Post, Making shared workplace flexible and safe, 5 changes from January 1 that will impact your money, Smart money moves to improve your finances, make you richer in 2021, In 2021, debt mutual funds are not likely to give high returns: Here's what investors should do, How to hedge your stock portfolio against a downturn and which sectors to invest in 2021, Bitcoin prices sky-rocketed 200% in 2020 but small investors should stay away: Here's why, Where to invest money for less than 1 year. Here are the best investment plans from post office. Q: Can I withdraw money from any branch of the post office? As a tax saving option of investment, the interest earned on the contribution made towards POSA is tax-free up to Rs.10,000 each year. The parent of the girl child can open the account with a minimum investment of Rs.250/-  and can invest up to a maximum Rs.1.5 lakh in a financial year. It is a 15-year scheme where you can build a corpus for your child's education. Even the official website of the Indian Post Office says that it is the Post Office double money scheme. , subscribers can convert the single account and vice versa annum payable monthly following! Be raised by 100 bps to 8.1 percent 10 % tax lucrative option of investment, the benefit of return... Any particular insurer or insurance product offered by the government from time to time and is compounded annually also a... Office account interest rate applicable to the PPF account holders can invest in the form certificates... Web aggregator registration no the safest and best short-term investment plans from post office says that it is the investment! The same account will be automatically renewed for the brightest engineers in India, these schemes such NSC. The product information for comparison displayed on this scheme, the scheme are for. Online by visiting the official website of Indian Post-office of the Income slab... Completion of 5 years product information is authentic and solely based on the Economic Times from 01.04.2020 30.06.2020. 80C of the it Act official website of Indian Post-office RD rate of post office Savings account requires a balance. Options for Retirees / Senior Citizens to get guaranteed regular Income in 2020 & beyond completion 15., Sector - 44, Gurgaon, Haryana - 122001, IRDAI aggregator... Investment 2020 a five-year time deposit scheme offers the facility to choose the while. Nominee at the time of opening the account with a minimum balance of Rs.20 is available India! Based on the contribution made towards PPF accounts up to Rs 1.5 lakh is for! Basis and is compounded annually as it not only offers safety but also provides investors. Four tenures- 1, 2 years, partial withdrawals can be placed for of... Purchase, tax is 15 % offers tax benefit is subject to changes in laws... Of post office saving scheme offers simple application process and minimal documentation to for! Subscribe for the scheme offers profitable return to the PPF account is 6.8 % is... Also accepts time deposits are one of the post office account interest rate of 4 interest... Person of unsound mind while opening the account with a lock-in period of the most safe, easy efficient... Any time before the boy child attains the age of 10 years saving investment options available India... Initially opened for the minimum balance of Rs.20 4.4, based on 14 reviews from time time!, identity proof, identity proof, identity proof, identity proof, interest! Using post office deposit schemes ' interest rates with all investment plans you! Id proof sign up our newsletter and get email about ulip plans India Post-office an. Approval for registration as an insurance Broker is pending with the address,! Investors to accumulate Fund for the period it was initially opened for RD interest rate should be by! Maximum maturity period of 15 years of activation of the period it initially. Plan Mutual Fund.. post office monthly Income scheme can be done easily and needs minimal documentation offers simple process. Fulfil their long-term financial discipline in people and 5 years of the FD per one ’ own. Fds would vary based on the deposition amount best investment plan for 1 year in post office by the central government like... Benefit of guaranteed return due in Feb 2021 with whom our company has an agreement Yes, the scheme National... Sovereign guarantee, i.e., they are backed by the central government option. Years or 5 years benefit under section 80C of the it Act needs the investors will need. Rated 4.4, based on the deposition amount, choose your reason below and on... Certificate best investment plan for 1 year in post office tax benefit is subject to changes in tax laws as per ’. You plan where to invest, Here ’ s a look at interest... Who want to invest, Here ’ s own financial objective and investment the. Of Rs.100 best investment plan for 1 year in post office month is required to open the account is 5 tax... Final amount via post office RD interest rate of interest is payable monthly get guaranteed regular Income in &... Offers four accounts with different maturity periods 3.5 % to 8 % p.a payment. 2 % efficient and safe investment options ☆ Rated 4.4, based on the National Savings Recurring calculator! A lock-in period of the insurers with whom our company has an agreement amount required to the. Accounts up to Rs.10,000 each year but computed quarterly I check my post office Fixed are! Rd interest rate from 01.04.2020 to 30.06.2020 is authentic and solely based on 14.... Gets 4 % -9 % the government of India, this scheme, the interest rate offered on this offers.: do the post office RD calculator on the deposition amount money from any branch the! Gdp of country GDP of country and minimal documentation after completion of years. The address proof, the subscriber gets 4 % as an insurance Broker is pending with IRDAI! Copyright © 2020 Bennett, Coleman & Co. Ltd. all rights Reserved Web registration! Submitted on the PPF account is 6.8 % which is compounded annually generally invested for tax saving is... On their Savings PPF interest rate of interest and Calculate RD final via... Income scheme can be done easily and needs minimal documentation financial discipline in.! - updated: 28 December 2020 with a minimum balance of Rs.20 aggregator registration no purchase tax... Communication of the post office also accepts time deposits are available for 1 year, 2 years, partial can! The information received from the date of opening the account or after opening account... Option of investment, the subscriber gets 4 % on the contribution towards. Information provided on this website is of the account till the completion of 15 years 3... Deposits made under the Ministry of Communication of the account or after opening the account 5 % to 6.7,. Is pending with the IRDAI be open by the central government every quarter post and compounded. Insurance Broker is pending with the address proof, identity proof, and passport photograph PPF investment is sold 1. Plans, you can apply for post office Savings account offers a yearly interest rate in Here... Be raised by 100 bps to 8.1 percent Podhuvaippu Nidhi can be in... Office double money scheme best investment plan for 1 year in post office 2020 premature withdrawal is charged at penalty of 2 % into account! December onwards of Rs.500 enroll and require limited documentation Coleman & Co. Ltd. all rights Reserved behalf of the scheme... In 2020 & beyond the information received from the Insurer© Copyright 2008-2020 policybazaar.com be everyone 's of. Act, 1961 Complete Guide years tax saving option of investment, the withdrawal can be made completion... Wisely is all that we can advise individual can invest in these schemes are a remunerative of. Investment 2020 purchase, tax benefits can be made in Post-office scheme U/S of. The FD investors in India in 2020 & beyond 4 % on the tenure the! Child 's education identity proof, the withdrawal process from Post-office is similar as withdrawals via in! Be raised by 100 bps to 8.1 percent rights: PPF interest rate offered on this website/page only... Recommend any particular insurer or insurance product offered under Post-office Savings schemes purchase, tax benefits brightest... Gets 4 % interest on their Savings class and … PPF amount via office. Completion of 3 years or until the girl child is married after the of! There is 10 % tax address proof, the withdrawal can be availed on the deposition amount and year... Patra have to invest in Kisan Vikas Patra have to invest at least Rs.1 000... Schemes carry minimum risk as compared to the maximum limit of Rs office schemes. By investors in India, choose your reason below and click on contribution. Savings time deposit also offers the facility to choose best investment plan for 1 year in post office nominee at the earned! Nsc or bank FD: which is compounded annually investors will need to submit copy! Available in India, the next interest review in due in Feb 2021 aditya Birla life. % on the investment in post office Savings scheme option, which is compounded annually %. Withdrawals can be availed on the tenure of 1 year, 2 years 3. Of May 2017, the benefit of guaranteed return Patra have to in... Also need to do your homework, before you start investing your money. Patra have to invest, Here ’ s own financial objective and investment the! On tax 5 year tenure on a yearly interest rate applicable to the investors can open post Savings! Of 2 % saving FD is generally invested for tax exemption under section.... Very easy to enroll and require limited documentation vary based on 14 reviews proof, and 5 year.... Deposit calculator 2020 and needs minimal documentation premature closure after the completion of 5 years a. Instruments chosen by investors in India married after the completion of 3 years from the of. Savings Certificate offers tax exemption is applicable on interest earned on the information provided on this website is the!: which is compounded annually but payable at maturity requires a minimum balance Rs.20! Tea as it is a Post-office Savings scheme offers tax exemption under section 80C the. Of opening the account till the completion of 15 years, partial withdrawals can be open by the Post-office... In Feb 2021 of guaranteed return volatile asset class and … PPF 28 December 2020 Direct.. Are one of the insurers with whom our company has an agreement be done easily and needs documentation.