What to do to get more interest than Bank FD
Currently, the interest rate on Fixed Deposit (FD) is at the lowest level. In such a situation, if you want a higher return on your investment than FD, you can get help from Post Office Kisan Vikas Patra, National Savings Certificate and Monthly Income Scheme. With this scheme you will get more interest than FD and your money will be safe.
We are telling you about these schemes. Kisan Vikas Patra (KVP). Kisan Vikas Patra (KVP) Savings Scheme is currently earning 6.9% interest. There is no maximum limit to invest in KVP. If that is your minimum investment of Rs.1000. . The investor must be at least 18 years of age. It has the facility of joint account in addition to single account. . · Minors can also be involved in the scheme, but their parents have to take care of it. If you want to withdraw your investment you have to wait at least 2.5 years. It has a lock-in period of two and a half years.
. It provides tax exemption on deposits up to Rs 1.5 lakh under Income Tax Act 80C. How much money will double in time: It is earning 6.9% interest. According to Rule of 72, if you invest money in this scheme, it will take 10 years and 5 months for the money to double. National Savings Certificate Scheme • Post Office in National Savings Certificate (NSC).
The investment is earning 6.8% annual interest. . The interest is calculated on an annual basis, but the amount of interest is paid only after the investment period. . It provides tax exemption on deposits up to Rs 1.5 lakh under Income Tax Act 80C. You have to invest a minimum of Rs.1000 to open an NSC account. This account can be opened in the name of a minor and a joint account can also be opened in the name of 3 adults. . You can invest any amount in NSC. There is no maximum investment limit.
How long it will take for the money to double: 6.8% interest is being earned on it. In this case, according to Rule of 72, if you invest money in this scheme, it will take 10 years and 7 months for the money to double. Monthly Income Scheme offers 6.6% interest. An account can be opened under this scheme with a minimum of Rs.1000. If your account is single, you can make a maximum deposit of up to Rs 4.5 lakh. Also, if you have a joint account, you can deposit a maximum of Rs 9 lakh in it. The maturity period is 5 years.
Under this scheme, interest is paid on an annual basis, but it is calculated on a quarterly basis. This account can be opened in the name of a minor and a joint account can also be opened in the name of 3 adults. How much money will double in time: 6.6% interest is being earned in it. In such a situation, according to Rule of 72, if you invest money in this scheme, it will take 10 years and 11 months for the money to double.
What to do to get more interest than Bank FD
FD કરતા વધુ વ્યાજ જોઈતું હોય તો ગુજરાતીમાં આર્ટિકલ વાંચવા અહીં ક્લિક કરો