Money Tip: Your ₹ 100 investment can grow in lacs. Know more on Post Office scheme

Today even though there are many avenues are available for a common investors, there aren’t many who offer good return potential with no risk. If you are one of the investor who seek better returns for your money yet don’t want to take any risk, then post office have a good scheme for you

The government has just announced rates for October to December 2020 quarter. They have kept rates unchanged for kept small savings interest rate unchanged. That means Post Office Schemes will continue to fetch 6.8 % per annum for the investors. It is good news for those investors who have zero risk appetite, yet want guaranteed return on their investment.

When big bank like SBI and ICICI now offers anywhere from 5% to 5.5% on medium to long term FDs, this rate seems really appealing.

Post Office Small Savings Schemes are, long term, tried and tested investment schemes, which helps an investor to grow money multi-folds. National Savings Certificate or popularly called as NSC, is one such good plan that is responsible for bulk of Post Office Small Saving Scheme sales. You can start a slow as Rs 100 and expect good returns n your money. Off course you can invest BIG and become millionaires without taking any risk at all.

Benefits of National Saving Certificate

One can start investing in National Saving Scheme (NSC) from as low as Rs 100. There is no maximum limit fir investing in National Saving Scheme (NSC). The maturity period of the National Savings Certificate scheme is fixed at 5 years. However, pre mature withdrawal can be done after 1 year with certain conditions. These conditions are

On the death of the holder of the certificate or the holders in case of joint holders
On order of the court to do so
On forfeiture by authorized Gazetted Government officer

The interest rates are set by the government at the beginning of every quarter (3 Months) of the financial year.

Investment of ₹ 720000 can grow in ₹ 10, 00,000 in matter of 5 years under NSC