India Post offers a number of small savings schemes including the Sukanya Samriddhi accounts for the girl child, National Savings Certificates and Monthly Income Scheme Account. To make the most of these accounts, it is important to start investing now. More so, because the government recently raised the interest rates offered on deposits in these schemes. 

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The India Post offers nine types of savings schemes. You can pick any of these as per your financial goals. Details are explained here:

Post Office Savings Account

This account offers 4.0% per interest rate on individual/joint accounts. The minimum balance to be maintained in a non-cheque facility account is Rs 50. Cheque facility is available if the account is opened with Rs 500 and for this purpose, the minimum balance of Rs 500 in an account is to be maintained. Cheque facility can be taken in an existing account also. 

Interest earned is Tax-Free up to Rs 10,000 per year from financial year 2012-13. 

5-Year Post Office Recurring Deposit Account (RD)

From October 1, the interest rate offered on this account is 7.3 % per annum (quarterly compounded). On maturity, a Rs 10/- account fetches Rs 725.05. The account can be continued for another 5 years on year to year basis.

One can invest minimum Rs 10 per month or any amount in multiples of Rs 5. There is no maximum limit.

Post Office Time Deposit Account (TD)

Interest on this account payable annually but calculated quarterly. One can invest a minimum Rs 200 and in multiple thereof. There is no maximum limit.

Post Office Sukanya Samriddhi Yojana: Invest Rs 14 lakh, gift your daughter Rs 46 lakh! Here's how