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Post Office Tax Saving Schemes

Post Office Monthly Income Scheme (Post office MIS)

Post OffIce Savings, Money and FinanceThe post-office monthly income scheme (MIS) provides for monthly payment of interest income to investors. It is meant for investors who want to invest a sum amount initially and earn interest on a monthly basis for their livelihood. The postal MIS is meant to provide a source of regular income on a long term basis. In India the post office MIS is a popular scheme for retired persons who can earn monthly income by way of safely depositing lump sum amount in the post office. MORE

 

National Savings Certificates (NSC)

The National Savings Certificate or NSC as they are popularly called are certificates issued by the Department of post, Government of India and are available at all post office counters in the country. They are a time-tested tax saving instrument that combine adequate returns with high safety. In fact NSC’s are one of the most popular instruments for facilitating long-term savings in India. A large chunk of middle class families use NSCs for saving on their tax, getting double benefits of investing as well as saving. The certificates are easily transferable from one person to another through the post office. There is a nominal fee for registering the transfer. They can also be transferred from one post office to another. One can take a loan against the NSC by pledging it to the RBI or a scheduled bank or a co-operative society, a corporation or a government company, a housing finance company approved by the National Housing Bank etc with the permission of the concerned post master. MORE

(Linked to Post office NSC)

Kisan Vikas Patra (KVP)

Kisan Vikas Patras is a saving instrument backed by the Government of India that provides interest income similar to the Government bonds. Since the amount invested in Kisan Vikas Patra doubles on maturity after 8 years & 7 months, it serves as an excellent investment option as well. As an investment option, KVP is beneficial for those looking for a safe avenue of investment without the pressing need for a regular source of income. KVP’s are quite popular with the salaried and middle income group people in India since the invested amount gets doubled at maturity. More

 

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