Post Office Scheme : Post office is one of the oldest organizations in India which started in during the British time on Oct 1854, initially focusing only on delivering post and later started providing financial services such as Banking, Insurance & Investments. The biggest advantage of these schemes is their guarantee such as it is a government scheme and backed by the government. Many post office savings schemes also offer tax-savings benefits.In this scheme money of people doubles in some times. It is low risk platform.
How much account you can open ?
According to Kisan Vikas Patra Yojana you can open both single or double accounts.You can open many account according to your with your wish it does not have any limits 4,8,12 any many more. An account can also be opened in the name of a child above 10 years of age.
Upto 7.5 % of rate of intrest
Under post office scheme the rate of intrest is decided into quarterly basis. About 7.5% of rate of intrest in present can be given by post office scheme. This interest is calculated annually.
Get 10 lakh rupees after investing just 5 lakhs
If someone invests Rs 5 lakh under this scheme and remains in this scheme till maturity for 115 months, then he will get Based on 7.5 percent interest, 5 lakh rupees will be received as interest. This means that person will get 10 lakh rupees in maturity but one most important thing is that it is not tax free .
Process to Apply for a Savings Scheme in Post Office
Some of step as follow for appling for a saving scheme in post office:
1. Vist near by post office
2. Get the form to open the relevant account from the post office.
3. Fill up the form and submit it along with KYC proof . You also needed some of your important documents such as Aadhar card , Pan card, Birth Certificate, Driving license, Voter id card etc.
4. Then finish the Process and and deposit the amount of scheme you choose.
Required Documents for Post Office Saving Schemes
1. Form
2. KYC Form
3. Aadhar card
4. Pan card
5. Voter id card
6. Job Card
7. Birth Certificate
Advantages of Investments in Post Office Schemes
1. Post office saving schemes are easy to enrol in and require limited documentation as simple procedures.
2. The post office saving scheme are everywhere in the india so it is easy to accessible.
3. The post office Saving Scheme have long term benefits.
4. The post office Saving Scheme is risk free platform and also provides 7.5 of interest.
Conclusion
In the post office saving Scheme you got your money double . It is government scheme so it is risk free platform for investment. It provide you upto 7.5% rate of intrest which is huge in number.You can open many acoounts as you wanted to open without any limits.
