If you are wanting to purchase little financial savings tools, it is important to recognize that various economic tools provide diverse rate of interest. These tools are indicated for financiers that are seeking secure conserving alternatives. These economic tools offer ensured returns and likewise allow earnings tax obligation exception approximately 1.5 lakh under area 80C of Income Tax (I-T) Act, 1961.
I. Post Office Savings Account( SB): One can open up an account alone or collectively with a person. This account can be opened up by transferring a minimum of 500 while there is no optimum limitation. These accounts provide a rate of interest of 4 percent per year.
II National Savings Recurring Deposit Account (RD): This account can be opened up with a month-to-month down payment is 100, and over minimum in several of 10. Interest price on persisting bank account is 6.7 percent.
III. National Savings Monthly IncomeAccount (MIS): This account can be opened up with minimum of 1000 and in several of 1,000. One can transfer an optimum of 9 lakh in a solitary account and 15 lakh in a joint account. This account provides a rate of interest of 7.4 percent per year.
IV Senior Citizens Savings Scheme Account (SCSS): This account has a minimal down payment of 1,000 and in several of 1000, based on optimal limitation approximately 30 lakh in all SCSS accounts opened up by a person. This account provides a yearly passion of 8.2 percent per year.
V. Public Provident Fund Account (PPF): Minimum down payment in PPF is 500 in a fiscal year and optimum down payment is 1.50 lakh in a FY. The passion on this account is 7.1 percent. 7
VI. Sukanya Samriddhi Account( SSA): The minimal down payment in a fiscal year is 250 and optimum down payment can be made up to 1.50 lakh (in multiple of 50) in a FY in lumpsum or in several installations. The account deals 8.2 percent per year.
VII National Savings Certificates (VIIIt h Issue) (NSC): Minimum quantity is 1,000 and in several ofRs 100 while there is no optimum limitation. the account provides a rate of interest of 7.7 percent per year.
VIII. Kisan Vikas Patra( KVP): The minimal total up to down payment is 1000 and in multiples of 100. There is no optimum limitation. The rates of interest on KVP is 7.5 percent.
IX. Mahila Samman Savings Certificate: Minimum of 1,000 and in several of one hundred while the optimum is 2 lakh. It provides a rate of interest of 7.5 percent per year.
