Quick Answer: Which Scheme Is Best In Post Office?

What is NSC interest rate 2020?

STORY OUTLINEInstrumentInterest rate (%) from October 1, 2020Compounding frequency5-year Senior Citizen Savings Scheme7.4Quarterly and Paid5-year Monthly Income Account6.6Monthly and Paid5-year National Savings Certificate6.8AnnuallyPublic Provident Fund7.1Annually8 more rows•Oct 27, 2020.

What is MIS scheme of post office?

Monthly Income SchemeMonthly Income Scheme (MIS) is an investment scheme that promises the investor guaranteed returns at an interest rate of 7.9% per annum. These returns can be availed as fixed monthly income. Post Office Monthly Income Scheme (POMIS) is an investment scheme of Indian postal service.

Which is best for savings?

Here is a look at the top 10 investment avenues Indians look at while saving for their financial goals.Equity mutual funds. … Debt mutual funds. … National Pension System (NPS) … Public Provident Fund (PPF) … Bank fixed deposit (FD) … Senior Citizens’ Saving Scheme (SCSS) … Real Estate. … Gold.More items…•

How can I earn 50 lakhs in 5 years?

How Can You make Rs. 50 lakh in 5 years?1.HDFC Small Cap Fund.2.L&T Emerging Businesses Fund.Parag Parikh Long Term Equity Fund.Mirae Asset India Equity Fund.The Moderate Investor.1.Invesco India Contra Fund.Axis Focused 25 Fund.3.Principal Focused Multicap Growth Fund.More items…•

What’s the safest investment with the highest return?

Safe Investments With High ReturnsSafe Investments With High Returns.High Dividend Stocks.Certificates of Deposit (CDs)Money Market Funds.U.S. Treasury Securities.Treasury Inflation-Protected Securities (TIPS)Municipal Bonds.Annuities.More items…

Which is better MIS or FD?

The cash flow earnings from a MIS can vary over time as the earnings vary with market fluctuations. So if you are looking to get surety in terms of interest, an FD is right for you; if you are open to ups and downs in the money you make, choose MIS.

How much money is safe in FD?

Your investment in a bank is insured under the Deposit Insurance and Credit Guarantee Corporation (DICGC) scheme, which covers your deposits up to Rs. 1 lakh for both principal and interest amount held in the same capacity and same right. So, even if the bank you have an FD in goes insolvent, your money would be safe.

Is money safe in post office?

Backed by a sovereign guarantee, deposits in post office schemes are secure, and offer an alternative to banks. … The government set up the Deposit Insurance and Credit Guarantee Corporation under the RBI to protect depositors in case a bank fails.

Which saving scheme is best in post office?

CRIF HIGH MARK TERMS AND CONDITIONSSmall Savings SchemeInterest RateInterest TaxablePost Office Time Deposit (5 year)*7.7%YesKisan Vikas Patra (KVP)7.6%YesPublic Provident Fund (PPF)7.9%NoSukanya Samriddhi Yojana8.4%No8 more rows•Sep 16, 2020

How many years FD will double in post office?

10 yearsThe annual interest is credited to the investor’s savings account at his/her option. How many years will FD double in the post office? At the interest rate of 7%, a post office fixed deposit investment will double in 10 years and four months.

Which scheme gives highest rate of interest?

Top 5 interest rates on Tax-saving Bank FDs.Unit Linked Insurance Plan (ULIP)Equity Linked Savings Scheme (ELSS)Sukanya Samriddhi Yojana.National Pension Scheme (NPS)Pradhan Mantri Vaya Vandhana Yojana (PMVVY)Senior Citizen Saving Scheme (SCSS)Public Provident Fund :More items…

Can I double my money in 5 years?

Similarly, if you want to double your money in five years, your investments will need to grow at around 14.4% per year (72/5). If your goal is to double your invested sum in 10 years, you should invest in a manner to earn around 7% every year. Rule of 72 provides an approximate idea and assumes one time investment.

What is the FD rate in post office?

Post Office FD Interest RateTenure (years)Post Office FD Interest RatesBajaj Finance FD Interest Rates1 year5.5%6.35%2 year5.5%6.55%3 year5.5%6.85%5 year5.7%6.85%

What is the interest of 1 lakh in post office?

India Post Office FDs have tenures ranging from 3 years 1 day to 5 years with maximum rate of interest of 6.70%….India Post Office Fixed Deposit Calculator 2021.TenureRatesMaturity Amount for ₹ 1 Lakh3 years 1 day to 5 years6.70% to 6.70%₹ 1,22,081 – ₹ 1,39,4073 more rows•Nov 25, 2020

How can I invest 50k wisely?

How to Invest 50k?Get an Emergency Fund.Pay Off Debt.Determine Your Goals and Risk Tolerance.Understand Which Kind of Investor You Are.Understand the Difference Between Passive and Active Investing.Invest in Individual Stocks.Invest in Real Estate.Invest in Individual Bonds.More items…