5 post office schemes that provide guaranteed return income

This post office scheme, popularly known as Post Office MIS, offers monthly income to its account holders. In this, an amount of up to Rs 9 lakh can be deposited in a single account, and up to Rs 15 lakh can be deposited in a joint account. 

One gets monthly income in the form of interest, which is 7.4 per cent. By depositing Rs 15 lakh in a joint account, one can earn up to Rs 9,250 every month from this scheme. In a single account, one can get a maximum of Rs 5,550 monthly income. 

This scheme is run for senior citizens. It has a lock-in period of five years, where one can deposit a one-time minimum amount of Rs 1,000, and a maximum of Rs 30 lakh. The interest rate in the scheme is 8.2 per cent annually, payable quarterly. 

An individual above 60 years of age, retired civilian employees above 55 years of age and below 60 years of age, and retired defence employees above 50 years of age and below 60 years of age can open the account in the scheme. On an investment of Rs 30 lakh, a senior citizen will get quarterly interest of Rs 61,500, and their maturity amount after five years will be Rs 42.30 lakh.

Like banks, post office also has many types of FDs with different tenures. It runs FDs of 1-, 2-, 3-, and 5-year tenures. The 5-year FD also provides tax benefits under Section 80C of the Income Tax Act.

The 5-year FD has an interest rate of 7.5 per cent annually. On a Rs 5 lakh investment in the scheme, one gets Rs 2,24,974 interest in 5 years, and the maturity amount is Rs 7,24,974. 

Popularly known as NSC, in this scheme, one can deposit money for 5 years. At present, the interest rate in the scheme is 7.7 per cent compounded annually but payable at maturity. One can start investing in NSC with Rs 1,000. 

There is no limit on the maximum investment. On a Rs 5 lakh investment, one gets Rs 2,24,517 in interest, while the maturity amount is Rs 7,24,517.

One can open a single, joint (up to 3 adults), a guardian on behalf of a minor or on behalf of a person of unsound mind, or a minor above 10 years old in their own name can open a Kisan Vikas Patra (KVP). The minimum deposit in the scheme is Rs 1000 and in the multiple of Rs. 100, while there is no maximum limit. One can open any number of accounts under this scheme. 

The interest rate in the scheme is 7.5% compounded annually. The amount invested doubles in 115 months (nine years and seven months). It means, investment of Rs 2 lakh in KVP will become Rs 4 lakh in 115 months.​