POSTAL SAVINGS SCHEMES

As far as the Postal Savings Schemes are concerned, there are several schemes for saving which are designed by the Post Office in India. In our Country, we have wide network of post office. Post office play very significant and crucial role in distributing the Financial Services to the areas like Rural and Remote with the intension of spreading financial  facilities so as all the segment and sector of the society can get the benefit of it.

Coming to the Schemes which are offered or designed by the Post office are "Public Provident Fund (PPF)", "Sukanya Samriddhi Yojana", "Senior Citizens Saving Schemes" and many more.

1) The "Public Provident Fund PPF" is an long term investment. In this scheme an individual has to invest a certain amount annually for a period of 15 years which can further extended. One of the benefits of PPF is that it offers attractive interest rate and tax benefit.

2) The another scheme is "Sukanya Samriddhi Yojana". This is the scheme which is specially designed for the benefits of girl child. In this scheme, the parent or the legal guardian open an account in the name of their girl child that is their daughter whose age is below 10 years. This account is  mature till the girl turns 21 years old. The scheme also provides high interest rate and tax benefits too. This scheme are designed which aimed in promoting welfare, security for the educational and marriage expenses in future.

3) Last but not the least "Senior Citizens Saving Scheme" is the schemes which is made for the benefits of senior citizens. In the respective scheme, the senior citizens are offered and given financial security and stable returns during their retirement age that is in the age of 60 or above. This scheme also provide flexible withdrawal options along with competitive interest rate.

Postal savings schemes are financial services offered by the postal department to motivate savings among individuals. These schemes provide a safe and helpful way for people to save money and earn interest. Some popular postal savings schemes in India are the Post Office Savings Account, National Savings Certificates (NSC) and Kisan Vikas Patra (KVP). Postal Savings Scheme help people to save money and feel financially secure. These schemes are accessible to different groups of people, even those who may not have access to traditional banks. They offer good interest rates, so your savings can grow over time.

In Conclusion, postal savings schemes are all about making it easy for everyone to save money and have a brighter financial future.

By Asmita Waghmare .

Roll no. 726.

Class Div - SY. Bcom G.

Group No. 12.