Post Office Schemes: Money will double in these schemes of Post Office, getting tremendous interest..

If you want to save or invest, then these post office schemes can prove beneficial for you. Explain that the post office runs many types of small savings schemes in which you get the benefit of tax deductions along with security.

The central government has also increased the interest rate on these post office schemes. Explain that the government has increased the interest rate on several savings schemes such as Monthly Income Savings Scheme, National Savings Certificate, Time Deposit Scheme, Sukanya Samriddhi Account, and Kisan Vikas Patra for the quarter of April to June. But there is no change in the interest rate for Public Provident Fund (PPF) yet. The Finance Ministry had decided to increase the interest rate for the quarter starting April 1, 2023, on the small savings schemes of the post office.

Explain that the central government has announced an increase in the interest rate on small savings schemes by 0.7 bps. At the same time, for the Senior Citizens Savings Scheme (SCSS), the government has increased the interest rate from 8 percent to 8.2 percent. Apart from this, the interest rate of Kisan Vikas Patra Yojana has now increased from 7.2 percent to 7.5 percent.

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The government has increased the interest rate on the Post Office Monthly Savings Scheme from 7.1% to 7.4% for the quarter beginning April 1, 2023. At the same time, the interest rate of the National Savings Scheme has now been increased from 7 percent to 7.7 percent.
Those who will buy Sukanya Samriddhi Scheme will now get an 8 percent interest rate instead of 7.6 percent.

Apart from these schemes, the government has increased the interest rate on post office FD (fixed deposit) of one, two, three, and five years from 6.6 percent, 6.8 per cent, 6.9 per cent, and 7.0 per cent to 6.8 per cent, 6.9 per cent in the last quarter. The percentage has been reduced to 7.0 and 7.5.
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