Post Office Scheme: PM Modi has invested in this scheme of post office, you should also take advantage of it
Newz Fast, New Delhi: If you too are planning to invest to secure your future, then there is good news for you.
Investing in Post Office Scheme gives you better returns. Let us tell you that Prime Minister Narendra Modi himself invests in this post office scheme. PM Modi has invested heavily in Life Insurance and National Savings Certificate.
According to the information, in June 2020, he had invested 8 lakh 43 thousand 124 rupees in NSC. He had deposited a premium of Rs 1 lakh 50 thousand 957 for life insurance. Let us know about this scheme.
National Savings Certificate
If you want to invest at zero risk then you should invest in post office. If you want to invest in a safe and government scheme, then you can invest in National Savings Certificate.
This is a safe investment because it is part of the small savings scheme of the post office and the Prime Minister of the country himself invests in it.
Invest like this?
The National Savings Certificate has a minimum lock-in period of five years. This means that you will be able to withdraw it only after five years of investment. There are three ways one can invest in NSC.
Single Type - In this type you can invest for yourself or for a minor.
Joint A Type - This type of certificate can be taken by any two people together i.e. two people can invest together
Joint B type is invested by two people but on maturity the money is given to only one investor.
How much can you invest?
This post office scheme currently has an interest rate of 6.8%. You can invest a minimum of Rs 1,000 in this scheme and invest money in multiples of 100. However, there is no maximum limit for investment in this.
Income tax exemption
If you also invest in NSC, then you will also get tax exemption by investing up to Rs 1.5 lakh every year under Section 80C of Income Tax. In case of taxable income, the amount is deducted from the total income.