Best Post Office Scheme For Boy Child
These are the best saving schemes for boys! Impressive Benefits: Best Post Office Scheme for Boy Child: 2024
Best Post Office Scheme for Boy Child: Central government offers many types of small amount savings schemes. It has introduced many schemes especially for women and small children. It brought Sukanya Samriddhi Yojana scheme for the future of girls. At present this scheme is getting great popularity. Savings can be made in the name of female children under ten years of age.
Best Post Office Scheme for Boy Child: Millions of accounts have already been opened. And what schemes are available for parents with male children and in which schemes one can invest in the name of the male child? Central Government offers various Post Office Savings Schemes to parents of male children who are looking for a good investment scheme for their child’s future.
Best Post Office Scheme for Boy Child: There are many such as Kisan Vikas Patra Scheme, National Savings Certificate Scheme, Post Office Monthly Income Scheme, Recurring Deposit. In addition to investing month by month, you can also get monthly income by investing a large amount at once. Now let us know the five best savings scheme and their complete details
Kisan Vikas Patra Scheme..
Center brought Kisan Vikas Patra Medal in 1988 under Post Office. This scheme can be said to be the best option for low income groups. A short term Post Office Savings Scheme in the name of a male child. This scheme allows you to invest a certain amount annually. 18
Anyone who has reached the age of majority is eligible for this scheme. However, guardians and parents can apply on their behalf if they are below 18 years of age. A minimum of Rs. You can invest from 1000 to the maximum amount. The Center has fixed the annual interest rate at 7.9%. Maturity tenure is 10 years and 4 months..
National Savings Certificate
Best Post Office Scheme for Boy Child: National Savings Certificate (NSC) is the best scheme that provides low risk, fixed income. The aim is to encourage small and middle income inverters along with tax benefits. A parent or guardian can open an account in the name of a child under 18 years of age. At least Rs. Starting from 1000 and maximum can invest any amount. This scheme earns 7.7 percent annual interest. Maturity tenure is 5 years.
Post Office Monthly Income Plan
Post Office savings scheme for male children. You can invest from a minimum of Rs.1000 to Rs.4.5 lakhs in the monthly income scheme. The center has recently increased the interest rate of this scheme. Currently it is giving 7.6 percent interest. Interest is paid monthly. Maturity time is 5 years. TDS is not applicable for this scheme. Tax exemption can be availed under Section 80C.Best Post Office Scheme For Boy Child
Recurring Deposits
Those who want to invest in the names of male children can opt for this scheme offered by the post office. A regular savings account will earn high interest. Maturity period is 5 years. Lockin period is 3 months. The minimum investment in this is Rs.100. There is no upper limit. The interest rate is 5.8 percent. You can transfer funds from this plan to your savings account.
Public Provident Fund Scheme
Public Provident Fund (PPF) is said to be designed to save tax. It is the best option for boys. The start amount of investment in scheme is Rs.500. Maximum investment is Rs. 1.5 lakh can be invested. PPF has a lock-in period of 15 years. Can be extended for another 5 years after the end of tenure. The interest rate is 7.1 percent. Under Section 80C Rs. Tax benefits up to 1.5 lakhs can be availed.
