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Post Office Schemes
1
Savings Account
This is a basic savings account that can be opened with a minimum deposit of Rs. 500. The account offers an interest rate of 4% per annum, which is compounded annually.
2
Time Deposit Account
This is a fixed deposit account that offers attractive interest rates ranging from 5.5% to 6.7% per annum, depending on the term of the deposit. The minimum deposit amount is Rs. 200, and the maximum deposit is Rs. 1.5 lakh for a single account and Rs. 4.5 lakh for a joint account.
3
Monthly Income Scheme
This is a five-year investment scheme that offers a fixed monthly income to investors. The interest rate is currently 6.6% per annum, payable monthly. The minimum deposit amount is Rs. 1,500, and the maximum investment is Rs. 4.5 lakh for a single account and Rs. 9 lakh for a joint account.
4
National Savings Certificates
This is a fixed-income investment scheme that offers an interest rate of 6.8% per annum, compounded annually. The minimum investment is Rs. 100, and there is no maximum limit on investment. NSC has a maturity period of five years.
5
Public Provident Fund
This is a long-term savings scheme that offers an attractive interest rate of 7.1% per annum, compounded annually. The minimum investment is Rs. 500, and the maximum investment is Rs. 1.5 lakh per year. PPF has a maturity period of 15 years.