Govt Schemes 2023: Now Money Will Double Soon

Govt Schemes 2023 – Post Office Small Savings Schemes: Post Office’s Small Savings Scheme is very popular among investors. Especially in those investors who do not want to take market risk. If you also rely on small savings, then in the new year you will benefit more than before. In some post office schemes, your money will double quickly if you invest now as compared to last year. Returns on National Savings Time Deposit Scheme (TD), Monthly Income Scheme (MIS), National Savings Certificate (NSC), Kisan Vikas Patra (KVP), Senior Citizens Savings Scheme (SCSS), Recurring Deposit (RD) increased from the new year Is. However, Public Provident Fund (PPF), Sukanya Samdhi Yojana (SSY) will continue to get returns as before.

Table of Contents

Senior Citizens Savings Scheme (SCSS)

Interest rate now: 8% per annum
Time to double money: 9 years
First interest rate: 7.6 per cent per annum
Time to double money: 9.47 years

Its maturity is 5 years. In this, the maximum deposit can be made 15 lakhs, while the minimum deposit is 1000 rupees. Rebate under 80C on 1.50 annual investment. However, TDS will be deducted if the interest earned in a financial year exceeds Rs 50,000.

National Savings Certificate (NSC)

Interest rate now: 7.1 percent per annum
Time to double money: 10.14 years
First interest rate: 6.8% per annum
Time to double money: 10.58 years

The maturity of this scheme is 5 years. There is no limit on the maximum deposit, while the minimum deposit is Rs.1000. The amount of up to Rs 1.50 invested is eligible for tax exemption under section 80C of the Income Tax Act.

Time Deposit (TD)

Interest on 5 year scheme: 7% per annum
Time to double money: 10.28 years
First interest rate: 6.7% per annum
Time to double money: 10.75 years

There is no limit on the maximum deposit, while the minimum deposit is Rs.1000. Tax exemption under 80C on the amount invested up to Rs 1.50. But if the income from interest is 40 thousand or more then TDS will be deducted. The limit for senior citizens is 50 thousand.

Kisan Vikas Patra (KVP)

Interest rate now: 7.2 per cent per annum
Time to double money: 120 months
First interest rate: 7% per annum
Time to double money: 1230 months

There is no limit on the maximum deposit. While the minimum deposit is Rs 1000.

Recurring Deposit (RD)

Interest rate now: 7% per annum

Maturity value at Rs 5000 monthly investment for 5 years: Rs 359667

Total Investment: Rs 3 Lakh

First interest rate: 5.8 per cent per annum

Maturity value at Rs 5000 monthly investment for 5 years: Rs 348480

Total Investment: Rs 3 Lakh

Govt Schemes 2023: Now Money Will Double Soon in NSC, SCSS, TD, KVP, How Much Benefit Increased From The New Year

Senior Citizens Savings Scheme (SCSS)

National Savings Certificate (NSC)

Time Deposit (TD)

Kisan Vikas Patra (KVP)

Recurring Deposit (RD)

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