Just like major banks, Post offices now operate numerous schemes that yield significant profits. Numerous post office schemes offer assured higher returns. There is a program that is also a favorite of Prime Minister Narendra Modi. They are also engaged in it. Concurrently, BJP leader Smriti Irani has put money into a different postal scheme.
PM has a significant amount of investment
In the Lok Sabha elections, Prime Minister Narendra Modi disclosed details about his investments in the affidavit submitted to the Election Commission. The PM had revealed that nearly 98% of his income is invested in bank fixed deposits and post office programs. The title of the postal savings program where Prime Minister Modi has allocated funds is National Savings Certificate (NSC). Modi revealed an overall investment of Rs 9,12,398 in it.
National Savings Scheme
The National Savings Certificate is referred to as the National Savings Certificate. In this plan, your funds are placed in a fixed deposit for 5 years. This plan appeals to investors who seek to avoid market risks.
Investments in NSC yield a yearly compounding interest of 7.7 percent, which is payable at maturity. To open an NSC, a minimum investment of Rs 1000 is required. The most advantageous aspect is that the funds invested in the National Savings Certificate are free from tax under Section 80C of the Income Tax Act.
MSSC
This postal program is quite advantageous for women. MSSC accumulates interest at an annual rate of 7.5%. You can invest a minimum of Rs 1,000 and a maximum of Rs 2 lakh in it. This plan requires an investment period of 2 years, though in certain situations, the account may be closed before that time.
However, under those circumstances, merely 5.5% interest will be offered instead of 7.5%. BJP leader Smriti Irani is likewise benefiting from this program. He has created an account in the MSSC program. Women of all ages can participate in this small savings program.
