The Indian post office is a wide network of material communication, delivering letters to couriers, parcels, and all legal drafts, POST office works as the main body is sending crucial documents from government house to your house. But these are not the only service that Indian Post provides, Post office folds many other savings and investment schemes for you.
Post Office Savings Account Scheme :
With a minimum balance of 500/- a single adult or an adult duo, guardian of a minor or unsound mind people can open this account with interest payback @ 4.0% let annum and additional facilities like ATM card, cheque book, ebanking, mobile banking, AADHAR seeding. Forms are available in the nearest post office.
National Service Recurring Deposit Account (RD) :
This scheme is invented to provide small interesting opoptions to small investors. Minimum INR 100/- per month or any amount in multiples of INR 10/-. No maximum limit is required to open this account. Interest payable will be periodically @5.8% annum and maturity of deposits after 5 years and 60 monthly deposits. Repayment prevails after the death of the account holder to the nominee.
Senior Citizen Savings Scheme :
Backed with many benefits and ease to old age, Senior citizens scheme a folds requirements of at least deposit of 1000/- not exceeding 15,00,000/-. A person above 60 can apply, retired civilian or defense employee can open on his name or with his/ her spouse name. The account can be prematurely closed any time you want and extend film the date you want. Account maturity after 5 years.
Sukanya Samriddhi Account :
Account to preserve amount and richer for girl child for her education other needs. Only one account can be open all over India after one girl’s name, the guardian is allowed to maintaining an account for the girl child younger than 10 years. Minimum 250/- deposit and maximum 150,000/- in a financial year can be deposited. ROI @ 7.6% starting from financial year 01.04.2021. Closure after 21 years after opening and pre mature closure after 5 years.