Post Office Saving Schemes can offer guaranteed returns which means that you can remain confident of the fact that you are not going to lose any hard-earned money.
These schemes also promise to double the money you invest in all their savings schemes with lesser interest rates.
1. Post Office Time Deposit
The 5.5% interest rate is being offered to 1 year to 3 years time deposit (TD) of the post office and if you invest in it, then your money will double in about 13 years.
2. Post Office Saving Bank Account
Post office savings account offers only 4.0 percent interest on your investment, and your money will double in 18 years.
3. Post Office Recurring Deposit
The 5.8 percent interest on the Post Office Recurring Deposit (RD) is being offered, if the money is invested and it will double in about 12 years.
4. Post Office Monthly Income Scheme
The 6.6 percent interest is given on the Post Office Monthly Income Scheme (MIS), if the money is invested and it will double in about 10 years.
5. Post Office Senior Citizens Savings Scheme
The Senior Citizen Saving Scheme (SCSS) of the Post Office is currently paying an interest of 7.4% and it doubles your money in 9 years.
6. Post Office PPF
The 15-year public provident fund (PPF) of the post office is currently giving 7.1 percent interest which will take about 10 years to double your money at this rate.
7. Post Office Sukanya Samriddhi Account
The Sukanya Samriddhi account scheme of the post office is offering the highest interest of 7.6% and this scheme will take 9 years to double the money.
8. Post Office National Saving Certificate
The 6.8% interest is offered on the National Saving Certificate (NSC) of the post office which is a 5-year savings plan and if the money is invested with this interest rate, it will double in about 10 years.
9. Post Office Kisan Vikas Patra
At present, 6.9 percent interest is being given in the post office Kisan Vikas Patra (KVP) scheme. With this interest rate, the amount invested here doubles in 10 years and 4 months.