New Delhi: Post office is offering several schemes. These post office schemes provide a stable interest rate and assured returns. PPF, Sukanya Samriddhi, Post Office Savings, Kisan Vikas Patra (KVP) among others are some of the popular savings schemes offered by Post Office.Also Read - Punjab Crisis LIVE Updates: Captain Amarinder Singh Submits Resignation as CM, Set to Address Presser Shortly
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- Post Office Savings Account (SB): Post Office Savings scheme offers an annual interest rate of 4 per cent. Post Office Savings Account can be opened with Rs 500.
- Under section of 80TTA of the Income Tax Act, from all Savings Bank Accounts, interest up to Rs 10,000 earned in a Financial Year is exempted from taxable Income.
- Public Provident Fund Account (PPF): Public Provident Fund (PPF) offers 7.1 per cent interest rate.
- PPF Deposits qualify for deduction under section 80C of Income Tax Act. Interest earned is tax free under Income Tax Act.
- Sukanya Samriddhi Account (SSA): Sukanya Samriddhi offers a rate of interest of 7.6 per cent per annum. You can invest minimum of Rs 250 and maximum of Rs 1.5 lakh in a financial year.
- Deposits qualify for deduction under section 80C of Income Tax Act. Interest earned is tax free under Income Tax Act.
- National Savings Certificates: National Savings Certificates (NSC) offers 6.8 per cent. Deposits qualify for deduction under section 80C of Income Tax Act.
- Kisan Vikas Patra (KVP): Kisan Vikas Patra offers 6.9 per cent compounded annually. Kisan Vikas Patra will mature in 124 months.
- Senior citizen savings scheme offers 7.4 per cent (quarterly interest of Rs 185 on Rs 10,000 deposit).
- Post office monthly income account offers 6.6 per cent.