New Delhi: With interest rates on savings and fixed accounts at record lows, many investors are looking for other tools to grow their money quickly. If you want to invest your money in secure systems, what can be safer than investing in post office systems.
Here is a list of all of the investment options offered by Post that will help you double your money in just a few years:
1. Post fixed deposit
Post Office offers Time Deposit (TD) for an investment period of 1-3 years. Swiss Post currently offers 5.5% interest rates for fixed-term deposits. If you invest in this program, the amount you invested will double in 13 years.
You can also invest in this system for 5 years, with an attractive interest rate of 6.7%. If you opt for a 5-year fixed-term deposit, your investment will double in almost 10 years and 9 months.
2. Postal savings account
If you invest your money in a postal savings account, your money will double in almost 18 years as the investment option only offers an interest rate of 4%.
3. Post recurring deposits
Post offers a 5.8% interest rate on its Recurring Deposit (RD) program. If you invest your money in this program, it will double in nearly 12 years and 5 months.
4. Post-Monthly Income Scheme
Currently, the Post Office Monthly Income Scheme (MIS) offers an interest rate of 6.6%. The amount you invested in this program will double in 10.91 years.
5. Swiss Post’s savings program for senior citizens
Post’s senior citizens’ savings program offers an interest rate of 7.4%. Your investment will double in 9.73 years if you choose this program.
6. Post Office PPF
Swiss Post is offering a 7.1% interest rate on its Public Provident Fund (PPF), a 15-year investment. Your money will double in 10.14 years when you invest in this program.
7. Post likes Samriddhi account
The Post’s Sukanya Samriddhi account currently offers an interest rate of 7.6%. The program, specially tailored for women at a young age, offers the opportunity to double your money in almost 9 years and 6 months.
8. National Post Office Savings Certificate
The Post’s National Saving Certificate (NSC) offers a 6.8% interest rate. It is important to note that this is a 5 year investment program that also offers tax benefits. Your investment in this program will double in nearly 10 years and 7 months.
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