Beat FD Rates: Neha Nagar on Post Office Savings Schemes

Are you searching for a safe investment that gives some higher returns than the fixed deposits?

Finance creator Neha Nagar breaks it down well with some 3 easy ways to start a Post Office Savings Scheme and her top picks for earning a steady and risk-free income.

3 Simple Ways to Open a Post Office Savings Scheme-

Offline Method-

Visit your nearest Post Office, fill out the form, attach some KYC documents (Aadhaar, PAN, etc.), and submit. Your account is opened on instant basis.

Online via Internet Banking-

Log in to the India Post Internet Banking, activate it with your Customer ID, and raise a service request to open your desired scheme.

Mobile App Method-

Download the India Post Mobile Banking App, log in to it, head over to the ‘Requests' tab, select your scheme, fill in the details, and finally submit.

Top 5 Post Office Schemes With Better Returns Than FD-

1- Post Office Time Deposit

• Tenure: About 1 to 5 years
• Interest: Around 6.9% to 7.5%
• Start with about ₹1,000 and no maximum limit
• Fully secure it & also government-backed

2- Monthly Income Scheme (MIS)

• Deposit Limit: upto ₹9 lakh (single), ₹15 lakh (joint)
• Annual Interest: 7.9%, paid on monthly basis
• Ideal for a consistent and passive income

3- Senior Citizen Savings Scheme (SCSS)

• Interest: 8.2% annually
• Age: over 60+
• Deposit up to ₹30 lakh
• Risk-free and best for the retirees

4- National Savings Certificate (NSC)

• Lock-in: Upto 5 years
• Interest: 7.7% annually
• Start from about ₹1,000
• Perfect for the conservative investors

5- Sukanya Samriddhi Yojana (SSY)

• Best for the girl child
• Interest: 8.2% annually
• Start from just over ₹250
• Tax-free and also Triple E Benefit (Exempt-Exempt-Exempt)

Neha's Tip:

If you're willingly looking to secure your future very perfectly and earn some immense tax benefits, these government-backed Post Office schemes are not only much safe but also greatly outperform the traditional FDs.

Neha even says, “I'm opening one for my father too!”

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A post shared by Neha Nagar | Filmy Finance (@iamnehanagar)

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