5 Best Post Office Schemes For Your Child's Future

As a parent/guardian, here are 5 best post office savings schemes you can invest in, for your children’s future.

National Savings Monthly Income Account (MIS)

You can open an MIS account with only Rs 1000 while the upper limit varies for children. This scheme gets you monthly income till maturity (5 years) at 7​.1​% interest per annum.

Public Provident Fund Account (PPF)​

You can open a PPF account with a lump sum or periodical investment of Rs 500 to Rs 1,50,000 in a financial year. This scheme gets you 7.1% compounded interest per annum with tax deductions under 80C.

Sukanya Samriddhi Account (SSA)​

Two SSA can be opened for your girl child with an investment of Rs 250 to Rs 1,50,000 in a financial year. With a maximum tenure of 15 years, this scheme gets you 7.6​​% interest per annum.

National Savings Certificates (NSC) - VIIIth Issue

You can get multiple NSC accounts starting at Rs. 1000 with no maximum limit. This scheme will get you 7.0% interest compounded annually but payable only at maturity(5 years).

Kisan Vikas Patra (KVP)

You can open several KVP accounts with a minimum deposit of Rs. 1000 and no maximum limit to get 7.2% interest compounded annually and double the investment in 120 months.

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