Post Office is the right office of your Money.

Post Office is the right office of your Money....

Digiworld

Post office play an important role in the communication in every country even it is develop or under develop. There will hardly be a house that does not have a relationship with the post office and at that time the post office used to only place for Money order and Savings. But the banks, the stock market and the investment companies are presented in the market seem to be cluttered, we have forgotten the schemes of the post office somewhere but those who are aware also ignore the rounds of the agent. 

     

          Generally We have made the assumption that the Post office is just for a delivering our posts, but it is wrong Post offices have been in existence even before the birth of banks and investment companies. It gives us delivery postal services as well as financial services from where we deposit and invest our money easily.

 

Savings Schemes offered by Post offices.  

There are several savings schemes offered by Post offices like monthly saving schemes and monthly income schemes which is secure easy to buy and operate, which can help you to earn consistent returns. Some good and high returns post office schemes are describe below.

Post office saving account.

In the post office saving account you can save small-small amount for our future. Post office offer attractive rate of interest on saving account. They issue a passbook where deposit and withdraw receipts are maintain.

Recurring Deposit Account (RD).

Recurring deposit account which is also known as RD. RD is a most popular saving instrument in the post offices, saw the post office now the bank has started selling it. In the RD you deposit a specific amount in the every month. If we compare it form the bank post offices gives us high rate of interest, anyone one can open it and its time duration up to 5yrs you can also withdraw your fund after 3yrs.

Fixed (FD)

We all are aware with FD. Its a one time investment instrument you can start it with a slump-sum amount. The amount is fixed for 5 years. If you need a fund in the any kind of emergency you can it with some penalty charges. The rate of interest is good from the bank and for senior citizen they offer 1 or 2 percent extra interest and it gives you tax benefits.

Monthly Income Scheme(MIS)

Post office offer Monthly Income Scheme from which you can earn a specific amount monthly. In this scheme investor receive interest on our investment regular basis means per month. The scheme has 5 years lock in period. Any individual or jointly and minors aged 10 or above invest in this scheme. If you need fund premature facility can be availed after some penalty. Its give you guaranteed return plus monthly income.  

 

Advantages in the Post office savings. 

Easy to invest.

In the Post office schemes anyone can invest it is very easy and are best suited for those who are lived in rural and as well as the urban areas.

Tax Exemption

Many of them post office schemes can save your tax under taxation rebates.

Long term Investment .

The investments in the Post Office Schemes are more forward-looking and long-term oriented with the attractive returns with tax benefits. Through post office schemes you can secure your old age and it help in your retirement and pension planning.