Thu, Mar 28, 2024
NSC small savings scheme interest rate latest update: The Post Office National Savings Certificates (NSC), also known as the NSC small savings scheme, turns a one-time investment of Rs 10,000 into Rs 14,490 over a maturity period of five years, according to the India Post website, indiapost.gov.in. Going by the same calculation, a sum of Rs 50,000 invested in this guaranteed, government-backed scheme grows into Rs 72,452 (principal of Rs 50,000 and interest of Rs 22,452) in the five-year period. One can invest any amount in multiples of Rs 100 starting at Rs 1,000 in this post office certificate scheme without any upper limit. For the final quarter of FY24, the NSC scheme delivers a return of 7.7 per cent compounded annually and payable at maturity. Read on to know more about this investment plan.
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Wed, Mar 27, 2024
Monthly Income Scheme (MIS) at Post Office: Did you know that you can earn monthly interest ranging from Rs 6 to Rs 9,250 for five years against a one-time deposit to the tune of Rs 1,000-15,00,000 in a special, guaranteed income small savings scheme at the post office? Formally known as the National Savings Monthly Income Account (MIS), this savings plan enables depositors to park their funds to earn interest every month for the entire maturity period of five years. And what is the interest rate of the MIS plan? Currently, the scheme delivers a return of 7.4 per cent (paid monthly). Read on to learn all about this investment plan with examples.
Thu, Feb 29, 2024
5-year SBI FD vs 5-year post office FD: Did you know that money parked in a five-year fixed deposit (FD) not only grows steadily and safely but also helps you avail income tax benefits up to Rs 1.5 lakh in a financial year? This article compares two such term deposit instruments. Read on to learn more.
Mon, Mar 05, 2018
Post offices offer PPF which has the EEE (exempt-exempt-exempt) benefits under tax laws. This means that contribution, interest and maturity proceeds all are tax-free. PPF deposits are eligible for tax deductions under Section 80C of Income Tax Act - a maximum of Rs 1.5 lakh can be claimed in one financial year.
Thu, Sep 22, 2016
The fourth tranche of amassed the highest wealth so far of Rs 919 crore from investors.
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