Post Office Saving Scheme; PPF ; Kisan Vikas Patra Scheme or Public Provident Fund of the post office, know where to invest more profit | Post Office Kisan Vikas Patra Scheme or Public Provident Fund, know where to invest will be more beneficial


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  • Post Office Saving Scheme; PPF ; Kisan Vikas Patra Scheme Or Public Provident Fund Of The Post Office, Know Where To Invest More Profit

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New Delhi10 minutes ago

Post Office Small Savings Schemes offer higher interest rates than Fixed Deposits (FDs). You will get great interest by investing money in its Public Provident Fund (PPF) and Kisan Vikas Patra (KVP) scheme. Currently, 7.10% interest is available in Public Provident Fund and 6.9% in Kisan Vikas Patra. Here we are telling you where you will get more benefit by investing.

6.9% interest is getting in Kisan Vikas Patra

  • Currently, 6.9% interest is being given in Kisan Vikas Patra (KVP) Savings Scheme.
  • There is no maximum limit to invest in KVP. However, your minimum investment should be Rs 1000.
  • The age of the investor should be at least 18 years. Apart from the single account, there is also the facility of joint account.
  • Minors can also join the scheme, but it will have to be supervised by their parents.
  • If you want to withdraw your investment then you have to wait for at least 2.5 years. It has a lock-in period of two and a half years.
  • Under this, the deposit amount gets tax exemption under section 80C of the Income Tax Act. Click here for more information

7.1% interest is getting in PPF

  • It is currently getting 7.1% interest. The government reviews the interest rates every three months. These interest rates can be more or less.
  • The account under this scheme can be opened anywhere in the bank or post office. Apart from this, it can also be transferred to any bank or any post office.
  • It can be opened with only 500 rupees, but then it is necessary to deposit 500 rupees in one go every year. The maximum amount that can be deposited in this account every year is Rs 1.5 lakh.
  • This scheme is for 15 years, from which the amount cannot be withdrawn in the middle, but it can be extended for 5-5 years after 15 years.
  • It cannot be closed before 15 years, but after 3 years loan can be taken against this account.
  • If anyone wants, he can withdraw money from the 7th year of this account under the rules.
  • By investing in this scheme, the benefit of tax exemption up to Rs 1.5 lakh can be availed under 80C. Click here for more information

Where would it be beneficial to invest?
You will get 7.1% interest by investing in Public Provident Fund which is more than Kisan Vikas Patra. But Public Provident Fund Scheme has a lock-in period of 15 years which is much more than 2.5 years of Kisan Vikas Patra. By investing in both these schemes, the benefit of tax exemption up to Rs 1.5 lakh can be availed under 80C. In such a situation, you can choose between these two plans according to your need.

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