Question: Is it safe to invest in post office?

Which is the best investment in post office?

Savings Schemes under Post Office Investments

Five Years Post Office Recurring Deposit Account (RD) Post Office Monthly Income Scheme Account (MIS) Public Provident Fund (PPF) Account for 15 Years.

Which is better bank or post office?

The Post Office Time Deposit Account (TD) is much better than bank FD. In this, you get 6.7 per cent interest for five years. One of the most preferred investments of post office is Time Deposit Scheme.

Can I double my money in 5 years?

Let’s apply Thumb rule in a reverse way, if you wish to double your money say in 5 years, then you will have to invest money at the rate of 72/5 = 14.40% p.a. to achieve your target. This means you have to invest money in those financial products that will give you a return at 14.40% per annum.

How do I double my money at the post office?

1] Kisan Vikas Patra: As per the India Post website, Kisan Vikas Patra scheme offers 6.9 per cent annual interest, which is compounded annually. In this scheme, no need to apply Formula 72 as the scheme aims to double one’s money in 124 months — the maturity period of the scheme.

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Is FD tax free in post office?

You can claim income tax deduction under Section 80C of the Income Tax Act of India, 1961, on the deposit you have made in the 5-year fixed deposit account. If the interest you earn on the FD account exceeds Rs. 40,000 per financial year for regular customers, the tax may be deducted at source by the Post Office.

What is the best investment for 5 years?

Best Investment Plans for 5 years

  • Liquid Funds. Also known as money market fund, these are a type of mutual fund scheme, which invests the money in short-term government securities and certificates. …
  • Savings Account. …
  • Post-Office Time Deposits. …
  • Large Cap Mutual Fund. …
  • Stock market/ Derivatives.

What’s a good investment for $10000?

Now let’s look at some ideas on how to invest $10,000:

  • Invest With Betterment. …
  • Buy Worthy Bonds. …
  • Invest in a 401k to Get the Company Match. …
  • Max out an IRA. …
  • Invest in a taxable account. …
  • Pay off high-interest credit card debt. …
  • Increase your emergency fund. …
  • Fund an HSA account.

Where can I invest money for a higher return?

Here is a look at 10 investment avenues Indians look at while saving for financial goals.

  • Direct equity. …
  • Equity mutual funds. …
  • Debt mutual funds. …
  • National Pension System (NPS) …
  • Public Provident Fund (PPF) …
  • Bank fixed deposit (FD) …
  • Senior Citizens’ Saving Scheme (SCSS) …
  • Pradhan Mantri Vaya Vandana Yojana (PMVVY)

How much money can be deposit in post office?

There is no limit on the maximum amount that can be deposited in a post office savings account. It is also eligible for tax exemption for interest of up to Rs. 10,000 earned in a financial year (for all savings accounts combined) under the Income Tax Act 80TTA.

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