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Sunday, 11 July 2021

PPF, National Savings Certificate or Kisan Vikas Patra, find out where you can get the most out of investing

 PPF, National Savings Certificate or Kisan Vikas Patra, find out where you can get the most out of investing

PPF, National Savings Certificate or Kisan Vikas Patra, find out where you can get the most out of investing


The post office did not cut interest rates for the July-September quarter. In this case, if you want to invest in a place where you can earn high interest and keep your money safe, you can invest in Post Office PPF, Kisan Vikas Patra, and National Savings Certificate Scheme. You can also avail tax exemption under section 80C by investing in it. SBI, the country's largest bank, is offering a maximum interest rate of 5.4% on fixed deposits. We are telling you about these plans.


PPF is earning 7.1% interest


    A Public Provident Fund (PPF) account can be opened for only Rs. But then it is necessary to deposit Rs.500 every year. A maximum of Rs 1.5 lakh can be deposited in this account every year.

    This scheme is for 15 years. From which money cannot be withdrawn in the meantime. But after 15 years the plan can be extended for 5-5 years.

    It cannot be closed before 15 years. But after 3 years the loan can be taken against this account.

    The government reviews interest rates every three months. This interest rate can be more or less. The account is currently earning 7.1% interest.

    By investing in this scheme, Rs. Tax exemption of up to Rs 1.5 lakh is available.

    PPF falls under the EEE category of income tax. This means that returns, maturity amounts and interest income are tax deductible.


KVP is earning 6.9% interest


    Kisan Vikas Patra (KVP) Savings Scheme is currently offering 6.9% interest.

    There is no maximum investment limit in KVP. However, your minimum investment should be Rs.

    The investor must be at least 18 years of age. It also has the facility of joint account apart from single account.

    Minors may also be included in the scheme. But that account must be handled by their parents.

    If you want to withdraw your investment you have to wait at least two and a half years. It has a lock-in period of two and a half years.

    Investment in this scheme can avail tax exemption up to Rs 1.5 lakh under 80C.


NSC is getting 6.8% interest


    Post Office National Savings Certificate (NSC) is earning 6.8% annual interest

    The interest is calculated on an annual basis, but the amount of interest is paid on the investment period.

    You have to invest a minimum of Rs.1000 to open an NSC account.

    This account can also be opened in the name of an adult and a joint account in the name of 3 adults.

    An account can be opened in the name of a minor above 10 years of age under the supervision of a guardian.

    Its maturity period is 5 years. You cannot exit this scheme before.

    By investing in this scheme, you can avail tax exemption up to Rs 1.5 lakh under 80C.

    You can invest any amount in NSC. There is no maximum investment limit.

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Where is the right investment?

Investing in all these three schemes is completely safe. Speaking of interest, PPF is getting more interest as compared to KVP and NSC schemes. But it has a 15-year lock-in. While 5 years lock-in in NSC and 2.5 years in KVP. PPF falls under the EEE category of income tax. This means that income from returns, maturity amount and income from interest is exempt. Also, tax can be saved only by investing in NSC and KVP. You can invest in these three schemes at your own expense.

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