There are several investment options available through the post office, offering good returns similar to bank schemes.
These include options such as Fixed Deposits (FD), Recurring Deposits (RD), and Public Provident Fund (PPF). In addition to these, there are unique post office schemes that are not available in banks.
Interest Rates for Various Post Office Schemes
Here’s a list of the interest rates for different post office investment schemes:
5-year Recurring Deposit: 6.7%
Public Provident Fund (PPF): 7.1%
Monthly Income Scheme (POMIS): 7.4%
Kisan Vikas Patra: 7.5%
Mahila Samman Savings Certificate: 7.5%
National Savings Certificate (NSC): 7.7%
Sukanya Samriddhi Account: 8.2%
Senior Citizen Savings Scheme: 8.2%
Post Office Savings Account: 4%
1-year Fixed Deposit: 6.9%
2-year Fixed Deposit: 7.0%
3-year Fixed Deposit: 7.1%
5-year Fixed Deposit: 7.5%
Investments Made by Prominent Figures
Prime Minister Narendra Modi and former Union Minister Smriti Irani have also invested in these post office schemes.
PM Modi has invested in the National Savings Certificate (NSC), which is similar to a fixed deposit. It allows any Indian to invest for a period of five years.
Smriti Irani has invested in the Mahila Saving Certificate Scheme, which is available specifically for women to invest for two years.
Unique Investment Option: Post Office Monthly Income Scheme (POMIS)
One of the post office schemes not available in banks is the Post Office Monthly Income Scheme (POMIS). This scheme offers a return of 7.4% and can be opened as a single or joint account.
In a single account, you can invest up to Rs 9 lakh, while a joint account allows a maximum investment of Rs 15 lakh. This scheme requires a 5-year investment period.
Exclusive Investment Benefits in Post Offices
One exclusive scheme not available in banks is the Post Office Monthly Income Scheme (POMIS). In this scheme, you can open both single and joint accounts.
For a single account, the maximum investment allowed is Rs 9 lakh, while a joint account allows a maximum of Rs 15 lakh. This scheme has an interest rate of 7.4% and requires a 5-year investment period.
PM Modi and Smriti Irani’s Investments in Post Office Schemes
Prime Minister Narendra Modi and former Union Minister Smriti Irani have both invested in post office schemes.
PM Modi has invested in the National Savings Certificate (NSC), which works like a fixed deposit, allowing individuals to invest for five years.
Similarly, Mahila Samman Savings Certificate is a scheme specifically for women, and Smriti Irani has also invested in this scheme, which lasts for two years.
