Just Invest Rs 500 Monthly, Get Tax Benefits And Earn 7.1% Annual Interest

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Post Office Small Saving Scheme: For those who want to invest their money in a safe and secure way and also want to get a good return, here is a wonderful post office small saving scheme for them. In this scheme, they will get pension facilities and other benefits. If you are an employee in the unorganized sector, and planning your retirement, then the Indian Post’s PPF (Public Provident Fund) scheme can prove to be the best way for you to take advantage of pension. Before investing money in the scheme, it is always better to check in details about the Post Office PPF Scheme.Also Read – Post Office Unveils New IVR Facility: Users Can Know Schemes, Last Transactions | Here’s How

Post Office PPF Scheme: Who can open an account Also Read – Income Tax Return: Know These Deductions, Exemptions Before Filing ITR

In this particular scheme, any person can open account with a minimum deposit of Rs 500 annually. At the same time, you can deposit a maximum amount of Rs 1.50 lakh in this Post Office PPF Scheme. Depositors in this scheme are also eligible for deduction under section 80C of the Income Tax Act. Also Read – Over 2 Crore Income Tax Returns Filed: As New I-T Portal ‘Stabilises’, Department Urges Taxpayers to File ITRs at The Earliest

Any Indian citizen who is an adult can open account in this scheme and take advantage of pension facility after retirement. Apart from this, the account of a minor person can also be opened by his guardian.

Post Office PPF Scheme: Interest rate

At present, in this Post Office PPF Scheme, the depositors get the benefit of 7.1 percent interest rate annually. This interest is deposited in the depositor’s account at the end of every financial year. Apart from this, the interest earned under the PPF scheme is outside the income tax purview.

Post Office PPF Scheme: Maturity period

In this Post Office PPF Scheme, investment can be made for 15 years. After this, the depositor’s account will mature. However, the year in which the account was opened is not counted.

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