Open Sukanya Samriddhi In Banks Or Post Office Account With Just Rs 250, Here s How May 03, 2021, 18:42 IST
Sukanya Samriddhi Scheme is a Risk-free scheme
You can open an account with just Rs.250
Wondering what this scheme is all about? If you have any questions about this scheme - Sukanya Samridhi, keep on reading.
You can join this scheme with just Rs.250. Then you can deposit as much money as you like each month.
By entering this scheme, you can get fair returns. There is no risk. It can, however, be placed into long-term investments.
Money should be invested for 15 years. The Sukanya Samridhi Scheme is currently offering a 7.6% interest rate.
What is inflation-adjusted return
May 01, 2021
A phone call between two friends leads to a talk about inflation-adjusted returns.
Akhila: What are you up to, Karthik?
Karthik: I was planning to buy a television set for ₹50,000. But I later changed my mind to save and invest that amount to buy a better version next year.
Akhila: I hope inflation doesn’t eat into your returns.
Karthik: What do you mean?
Akhila: A few economists expect inflation to rise going ahead. If that happens, your inflation-adjusted returns can be low or even negative.
Karthik: Can you explain that?
Akhila: If you invest that ₹50,000 at four per cent p.a. in a fixed-income instrument, your investment will be worth ₹52,000 by year-end. Say, the average inflation over the next one year is six per cent and the price of the TV set which you decided not to buy, becomes ₹53,000. Let alone buying a better version, your investment amount won’t be sufficient to buy even the current model.
Post Office schemes: Check interest rates and tax benefits on saving schemes
All the post office investment schemes are tax-exempt under Section 80C, i.e. tax exemption up to Rs. 1,50,000 is allowed. (Image Source: File Photo)
Updated: Apr 27, 2021, 12:42 PM IST
If you are thinking of investing in risk-free saving schemes then here s your chance to do some investments. Post Office Investments include a number of saving schemes that provide a high rate of interest as well as tax benefits and most importantly, carry the sovereign guarantee of the Indian Government.
Among the Post Office schemes, National Small Savings Schemes are very popular. In these small savings schemes, people make moderate investment and get assured returns. The interest rates on small savings schemes are decided by the Union Ministry of Finance.
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Last Updated: Apr 26, 2021, 06:30 AM IST
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The tax planning season is still far away, so few people have tax savings on their mind right now. But experts say you should start your tax planning from April itself, rather than wait and make hasty decisions in the last few weeks of the financial year.
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The resurgence of covid infections has thrown life out of gear. As you sit at home, locked in due to the pandemic, complete these financial tasks before the month ends.
26 April: File forms 15H or 15G to avoid TDS
Launched by the government of India, Sukanya Samriddhi Yojana is part of the “Beti Bachao, Beti Padhao Yojana” which is meant for the welfare of the girl child. If someone invests in the Sukanya Samriddhi scheme at the Post office, he/she will get a rate of interest of 7.6 percent per annum calculated on yearly basis.