Did you ever thought about investing some part of your portfolio into post office schemes in India? Recently I did and find out all the post office schemes available in India. Here is the list for you too.
Kisan Vikas Patra
Interest: Money is doubled in 8 years and 7 months
Effective Interest Rate: 8.41%
Minimum Amount: Rs. 100
Maximum Amount: No Limit
Tax Breaks: None
Monthly Income Scheme
Interest: 8% + 5% bonus at maturity
Tenure: 6 years
Minimum Amount: Rs. 1,000
Maximum Amount: Rs. 4,50,000 for a single and Rs. 9,00,000 for a joint account
Tax Breaks: None
National Savings Certificate
Interest: 8%
Effective Interest Rate: 8.16% (half yearly compounding)
Tenure: 6 years
Minimum Amount: Rs. 100
Maximum Amount: No limit
Tax Breaks: Section 80C deduction
Public Provident Fund
Interest: 8%
Tenure: 15 years
Minimum Amount: Rs. 500
Maximum Amount: Rs. 70,000 per year
Tax Breaks: Section 80C deduction
Recurring Deposit
Interest: 7.5%
Tenure: 5 years
Minimum Amount: Rs. 10
Maximum Amount: No limit
Tax Breaks: None
Senior Citizens Savings Scheme - Minimum age is 60 years for the person
Interest: 9%
Tenure: 5 years
Minimum Amount: Rs. 1,000
Maximum Amount: Rs. 15,00,000
Tax Breaks: Section 80C deduction
Time Deposit
Interest: 6.25% to 7.5%
Tenure: 1 or 2 or 3 or 5 years
Minimum Amount: Rs. 200
Maximum Amount: No limit
Tax Breaks: Section 80C deductions