Post Office Scheme: In ‘this’ scheme of Post Office, you will get a benefit of 5 lakhs only from interest

Post Office Scheme | Many of us opt for post office if we want to invest money safely and without any risk. Because even if the post office doesn’t get much returns, everyone is assured that their invested money will be safe. Today we are going to tell you about one such post office scheme which will give you safe investment and guaranteed returns. The name of this scheme is National Savings Certificate (NSC) Scheme.

As the investment in this scheme is guaranteed by the Government of India, your money remains completely safe. Currently, the government is paying 7.7 percent annual compound interest on the National Savings Certificate Scheme. The lock-in period of this scheme is five years. Once invested, the amount has to be kept for five years. This greatly increases the investment amount with the benefit of compound interest. Post Office Scheme

A minimum investment of just Rs 1,000 is required to open an NSC account. There is no maximum investment limit. So investors can invest any amount according to their financial capacity. This facility can be availed by visiting the post office in person or through available online facilities.

The biggest attraction of this scheme is the interest on large amount. For example, if an investor invests a lump sum of Rs 11 lakh, he can get around Rs 15.93 lakh after five years at a compound interest rate of 7.7 percent. That is, an interest of around 4.94 lakhs is earned on the original investment. Having such a large return on a safe investment can be a great opportunity for many.

This scheme also has the facility to open account in the name of children. Accounts for children below 10 years can be managed by parents. Hence, this plan is useful for future education or other financial needs as well.

NSC is also beneficial in terms of tax savings. Under Section 80C of the Income Tax Act, up to 1.5 lakhs tax deduction can be availed on the investment made in this scheme. Hence, there is a double benefit of tax savings along with safe returns. Post Office Scheme

However, it is important to keep in mind the lock-in period while investing in this scheme. If you close the account before maturity, you will not get the expected interest benefit. Therefore, this scheme is considered more beneficial for investors who are planning long-term financial plans.