Senior citizens ALERT! THESE post office schemes offer higher interest rates than banks; check maturity calculator, other details

If you are planning to invest money and want some risk-free options, then the central government-run schemes can prove to be handy for you. The Central government-backed investment schemes are available for the public through banks and post offices. If you don't want to take any risk with your money, you can put your money into the time deposit schemes and Senior Citizens Savings Scheme among others. These schemes offer interest rates than the banks. Continue reading to know more about these schemes.

India Post offers a return of 6.7 per cent on FDs of five years, you will have to renew it after every five years.

Post office has some good schemes for their consumers to save money while earning high-interest rates. Similarly, the Post office runs a scheme for senior citizens called ‘Post office senior citizen saving scheme (SCSS) in which you can get a higher interest rate of 8% on saving deposits. The scheme not only helps to save money securely but also ensures good profits.