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Post Office FD vs NSC: There are many investment options available in the market, but even today a large section of the country prefers to invest in the Post Office Scheme. The biggest reason for this is that investors’ money is 100 percent safe in this. It gets government guarantee. Investing in many post office schemes also gives the benefit of Tax Saving Schemes.
The month of March has come to an end. In such a situation, if you want to take advantage of tax exemption in the financial year 2022-23 (FY 2022-23), then before March 31, definitely invest in schemes that give the benefit of tax exemption. Today we are giving you information about two such schemes of the post office, in which you will get the benefit of tax exemption (Post Office Tax Saving Schemes) along with strong returns. This scheme is Post Office Fixed Deposit Scheme and National Savings Scheme (Post Office FD vs NSC).
Post office FD scheme-
Post Office FD scheme is also known as Time Deposit Scheme (Post Office TD Scheme). You can invest in the post office in the form of FD for a total of 5 years. On investing in a period of 5 years, you get a rebate of Rs 1.5 lakh under Income Tax Section 80C (Income Tax Section 80C). You can start investing in this scheme from Rs 1,000. At the same time, no limit has been fixed for the maximum investment. On investing in a five-year time deposit scheme, customers get a return of 7 per cent. At the same time, the post office is offering an interest rate of 6.6 percent on investment for a period of one year, 6.8 percent on a period of 2 years and 7.00 percent on a period of 3 years. Note that the tax benefit is available only on FDs of 5 years.
National Savings Certificate-
National Savings Scheme i.e. National Saving Certificate is one of the famous schemes of the post office. In this, the investor can invest for a total of 5 years. Interest is available on this scheme at the rate of 7 percent. You get this interest on the basis of compounding. In this scheme also, you can invest as much as you want in multiples of Rs 1,000 to Rs 100. If you invest Rs 1,000 in this scheme for 5 years, you will get Rs 1403 in return. By investing in this scheme also, you get a rebate of up to Rs 1.5 lakh under Section 80C of Income Tax. By investing under this scheme, you also get the facility of loan.
Which scheme is better?
In terms of tax saving, you will get a rebate of up to Rs 1.5 lakh in both the schemes. The difference is that by investing in the National Savings Certificate of the Post Office, you get the benefit of interest on the basis of compounding. Along with this, the thing to note is that you will have to pay tax on the interest received on both the schemes according to the income tax slab. If you want to take a loan in future, then you can take it only on the amount invested in the NSC scheme.
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