First Published 14, Dec 2020, 1:00 PM
Business Desk. In today’s time, no one wants to invest their money where they can get more returns. As far as banks are concerned, interest rates in fixed deposit (FD) schemes have come down considerably, whereas non-bank financial companies are not able to trust people. Private sector banks are also not paying much interest. In such a situation, there are some schemes of the post office, which are getting a lot of interest. This is the reason that the trend of people is now moving towards the deposit schemes of the post office. The special thing with the post office is that the money deposited here can never be drowned, because on this the central government gives Sovereign Guarantee. Today we are going to tell you about such a scheme of the post office, which not only gets good interest on the investment, but also saves tax.
The post office scheme is named Public Provident Fund (PPF). This account can also be transferred to another post office. PPF account gets 7.1 percent interest annually on deposits. (File photo)
PPF can be opened with just Rs 100, but it is necessary to deposit at least 500 rupees every year in this account. Maximum 1.5 lakh rupees can be deposited in this account every year. (File photo)