Post Office Investment Plans: If you also want to earn a safe and fixed profit, then Post Office Scheme is best for you. Post Office MIS is a savings plan in which you can make a one-time investment and get the benefit every month in the form of interest. This account (Post Office Saving Scheme) has many advantages.
Dhansukh Yojana Post Office Investment Plan For Children
Post Office Small Savings Schemes may be the best option for you. The risk factor is also low and the returns are also good. Let us tell you about an investment that has negligible risk and good returns. Post Office Recurring Deposit is one such investment avenue.
Where and how to open an account?
You can open this account (Post Office Monthly Income Scheme Benefits) at any post office.
Under this minimum of 1000 rupees and a maximum of 4.5 lakh rupees can be deposited.
Currently, the interest rate under this scheme (Post Office Monthly Income Yojana Interest Rate 2021) is 6.6 percent. If the child is above 10 years of age, you can open this account (MIS benefits) in his name. The scheme has a maturity of 5 years, after which it can be discontinued.
If your child is 10 years old and you deposit Rs 2 lakh in his name, your monthly interest will be Rs 1,100 at the current rate of 6.6 percent. In five years this interest will total 66 thousand rupees and finally, you will get a compensation of 2 lakh rupees.
In this way, you will get 1100 rupees for a small child, which you can invest in his studies. This amount can be of great help to parents. Similarly, if you deposit Rs 4.5 lakh, you will get around Rs 2500 per month. TDS is deducted on investments in recurring deposits, if the deposit is Rs. 40,000 is taxed at the rate of 10% per annum. Interest earned on RD is also taxable, but the entire maturity amount is not taxable.