Invest in Post Office Small Saving Scheme and Earn More Than Rs 70 Lakh
The Post Office Small Saving Scheme has emerged as a superhit investment option for those looking for a safe and guaranteed return. By investing in this scheme for a period of five years or more, one can earn more than Rs 70 lakh. In addition, this scheme also offers the benefit of tax exemption, making it a lucrative investment option.
What is the Post Office Small Saving Scheme?
The Post Office Small Saving Scheme includes various schemes such as Public Provident Fund, NSC, Sukanya Samriddhi Yojana, and Senior Citizen Saving Scheme. These schemes offer guaranteed returns and are considered a safe investment option.
Invest in NSC and Earn 7.7% Annual Interest
If you invest in National Savings Certificate (NSC) for five years, you can earn an annual interest of 7.7%. There is no investment limit in this scheme, and you can invest as much amount as you want.
How Much Amount Can You Invest in NSC?
Here’s a breakdown of how much amount you can deposit by investing in NSC:
– If you invest Rs 1 lakh, you will get Rs 44,903 interest and a total corpus of Rs 1.44 lakh in five years.
– On an investment of Rs 5 lakh, you will receive interest of Rs 2.24 lakh in five years, and the total amount will be Rs 7.24 lakh.
– If you invest Rs 10 lakh, you will earn interest of Rs 4.49 lakh and a total corpus of Rs 14.49 lakh in five years.
– On investing Rs 20 lakh, the total interest will be Rs 8.98 lakh, and after maturity, the total amount will be Rs 28.98 lakh.
– After five years, interest of Rs 13.47 lakh will be given on an investment of Rs 30 lakh, and the total amount after maturity will be Rs 43.47 lakh.
– If you invest Rs 40 lakh for five years, then the total corpus will be Rs 57.96 lakh, in which the interest will be Rs 17.96 lakh.
– On investing Rs 50 lakh, the amount will be Rs 72.45 lakh on maturity, in which the total interest will be Rs 22.45 lakh.
Tax Benefits of Investing in Post Office Small Saving Scheme
Investing in the Post Office Small Saving Scheme also offers tax benefits. Under Section 80C of the Income Tax Department, one can save up to Rs 1.5 lakh annually on tax. This makes the scheme a lucrative investment option for those looking to save on taxes.
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Sorted points by DelhiBreakings.com team.
👉 By investing money in a central government scheme for five years, you can earn more than Rs 70 lakh.
👉 Small savings schemes like Public Provident Fund, NSC, Sukanya Samriddhi Yojana, and Senior Citizen Saving Scheme are considered as a safe investment option.
👉 National Savings Certificate offers an annual interest of 7.7% on maturity after five years.
👉 Tax benefits are available under section 80C of the Income Tax Department.
👉 Investment ranging from Rs 1 lakh to Rs 50 lakh can earn interest and a total corpus in five years.
👉 For an investment of Rs 1 lakh, the interest will be Rs 44,903 and the total corpus will be Rs 1.44 lakh in five years.
👉 For an investment of Rs 50 lakh, the amount will be Rs 72.45 lakh on maturity, in which the total interest will be Rs 22.45 lakh.
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