You can invest in 1, 2, 3, and 5-year Fixed Deposits (FDs) offered by the post office. If you choose to invest in a 5-year FD, you will earn 7.5% interest. Additionally, these FDs provide tax benefits.
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Women’s Investment Options
For women looking to invest their money and earn better interest, the Mahila Samman Savings Certificate scheme is available. This scheme requires a 2-year investment and offers an interest rate of 7.5%.
Long-Term Investment Opportunities
If you are interested in long-term investments, consider the Kisan Vikas Patra (K.V.P.). This scheme allows your money to double in 115 months and also provides an interest rate of 7.5%.
National Savings Certificates
Another option in the post office is the National Savings Certificates scheme, which requires a 5-year investment. Currently, it offers an interest rate of 7.7%.
Senior Citizen Savings Scheme
The government has established the Senior Citizen Savings Scheme to benefit senior citizens with high interest on their savings. This scheme also requires a 5-year investment and offers an interest rate of 8.2%.
Sukanya Samriddhi Yojana
The Sukanya Samriddhi Yojana is designed for daughters and is available at both banks and post offices. Investments are made for 15 years,
and the scheme matures when the daughter turns 21. You can deposit between Rs 250 and Rs 1.5 lakh annually. Currently, this scheme offers an interest rate of 8.2%.