Features of Post Office Saving Schemes

Post Office Saving Schemes come with distinctive features designed to cater to the diverse financial needs of investors. These features include,

Eligibility to Invest: These Post Office Saving Schemes are offered to resident Indian individuals.

Easy Process to Invest: Post Office Saving Scheme's application process is very easy and require minimal documents for investment.

Flexibility in Investment Tenure: They are available for different investment tenures which the investors can select as per their requirements and financial objectives.

Nominal Account Opening Investment: Such schemes usually do not require large investment amounts. Some of the schemes such as Rs. 1000/- as in case of Kisan Vikas Patra. Post Office Recurring Deposit can be opened with a small amount of Rs 100/- p.m. only.

Attractive Interest Rates: Very competent and attractive interest rate is offered by these Post Office Saving Schemes. Post office savings schemes offer risk-free interest rates in the range from 4% to 8% which is highly competitive with banks.

Ease of Accessibility: through a vast network of post offices across the country makes these schemes convenient for all.

Transferable: It is possible to transfer your account from one post office to another post office without any problem.

Review of Interest: Interest of Post Office Saving Schemes are usually reviewed by the government in every quarter of the financial year.