MOST SAFEST PLACE TO KEEP YOUR MONEY

POST OFFICE SAVINGS SCHEME

There was a time when we use the post office as sending a message but now it's working slightly changes according to time .it is now became the small bank of a village which offer various money transaction and various scheme.
It is now the safest zone of your money deposit.
In the various schemes, it gives more interest than Bank.
Even in the bank if the bank diminishes then the government only give you a max of 1 lakh against your
bank deposit but the post office government guarantees all the money deposit in a post office.

If you want to open a post office savings account than
It opens with 20 rupees of deposit
But you have to maintain a 50 rupee as your minimum balance.
You can also open a minor account here means if you are not 18+ then also you can open an account.
There is a chequebook facility available but you have to open an account with a 500 rupee.

You can also available the ATM facility with money from its own post office ATM or other ATM.
You can open one account in the post office
You can transfer the account accordingly to your living area with a nominal fee.
You can also keep the nominee with your account.
There is a free tax of interest-earning up to 10000
In the post office.
Therefore post office is also the best option for rural areas people where the banks are absent.
Now a day post offices are updated very well as the bank offered real time transaction.it is safer than a bank
So it is a good thing which you have to consider.

But always take receipt after every transaction that is the most important thing in post office system.

There has a lot of scheme in the post office but we are going to tell the main scheme which benefits you to the best use of your money in the post office.

1.MIP---(MONTHLY INCOME PLAN)

IN this scheme you have to put money for regular income an individual can invest up to
4.5Lk and a joint holder can invest up to 9Lk with 5 yr duration.
It now giving interest about appx 7.3%
Which have monthly payment options which are a credit to your postal account every month.

It gives you constant income with no risk*

It is a very good option for a retired person or senior citizens.

2.NSC :-(NATIONAL SAVING CERTIFICATE)

This is a very good investment opportunity for those who want to save tax
You can invest in 100₹

It is going to  be for 5 to 10 yr of deposit
It gives you earning of compound interest in 6 months.
The interest you generate gives you compound interest means you get interested in interest.
But you don't have payout options for which you will get your money by the time of maturity.
But you will get tax benefits In section 80(C).

POST OFFICE FD AND RD

Fixed Deposit And Recurring Deposit
Are a little higher interest rate than the bank due to its time duration.
Its duration starts with
min:1year

In Recurring deposit, you can start with min
10 rupee

It is basically intended to attract everyone
In all areas.
A post office account is good to open for getting benefits from the tax.

Thanks for your time

Before doing any investment ask your financial advisor.
#80(c) #savetax #tax savings investment
#tax benefits