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Monday, May 23, 2022

Post Office Scheme vs NSC: Invest in Post Office, know which option is better in Time Deposit Scheme and NSC

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Post Office Time Deposit Scheme vs NSC: In today’s time, every person keeps on looking for new options of investment along with earning. The Post Office keeps on bringing many investment options to its customers. By investing in the post office, you are guaranteed the safety of the amount deposited. This investment is different from market risks and helps in giving maximum returns as well.

We are going to tell you about two post office schemes which help in giving better returns to the investors. The first scheme is the Post Office Time Deposit Scheme and the second scheme is the National Savings Certificate Scheme. If you want to invest in any one scheme in both, then we will tell you about the advantages and differences of investing in both-

TD Scheme vs NSC How much money will have to be deposited
Under the National Savings Scheme of the Post Office, you can open an account with an investment of only Rs 1,000. At the same time, under the time deposit scheme, you can open the account for Rs 1,000. In both the schemes, you can invest only in multiples of Rs 100.

At the same time, the Time Deposit Scheme can also be opened in the name of a minor child. Children above the age of 10 years get the facility to open an account under the Time Deposit Scheme. But, this facility is not available in the NSC scheme. In both the schemes, you can open both single and joint accounts. In a joint account, you can open an account with three people.

Interest is available in both the schemes
According to the information given on the official website of the post office, according to the time deposit scheme of the post office, you get an interest rate of 6.7 percent. At the same time, under the National Saving Scheme (Post Office Scheme), you get an interest rate of 6.8 percent.

But, the interest earned on NSC is available on compounding. Along with this, you get exemption under section 80C of Income Tax by investing in NSC. You can invest money in NSC scheme for up to 10 years. At the same time, you can invest in the Post Office TD Scheme for up to 5 years.

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