In the last blog we discussed about how can we beat the infaltion by investing in fixed deposit schemes. Today i am to present you two different government schemes. You can invest in these schemes if you want your money to be ultra-safe. Though safe these are rewarding too. Will give you around 8- 8.7% of returns on your savings. Let’s talk about the NSCs first. National savings certificate (NSC) are basically government bonds. You invest money in this scheme by buying such bonds from your nearby post office.
These bonds are present in physical form you buy them by paying an amount in lumpsum. The interest you will receive on NSCs will be fixed on the day you invest and will remain the same during the period your money remains invested. On maturity you receive a handsome amount. The amount you actually get is the principle amount added the compound interest you have earned at a decent rate of 8.4%. while on the other side when we talk of ‘post office monthly income scheme’ it’s a completely different scheme. Although the way of investing is same as the NSCs but the way you get benefited is different. This scheme is best for those who have an amount to invest but need a little money every month. This scheme is similar to fixed deposit scheme where interest doesn’t gets reinvested, but you withdraw the amount of interest every month to cater to your basic expenses. Same as NSCs you need to invest your money in POMIS through your nearby post office. The scheme provides a decent interest rate of 8.4 – 8.7 % there is no age limit for investing in such scheme but there is a limited amount you can invest. Check with your nearby post-office for details. Both the above schemes mentioned above can fetch you deductions in income tax. Under the section 80 C of income tax law. These two schemes are good for you if you want your money to be invested with government. It provides you with a grwater security of your miney while giving good returns. Go add these to your investment portfolio. Invest wise, be wealthy.