THESE three finest post office schemes offer better returns; Check calculator, maturity, policy terms, other key details

If you invest wisely, your money can increase and provide you with good returns. Fixed deposits are one of the most profitable solutions that spring to mind, and they are popular due to their low risk factor. There are other more schemes that offer a high rate of return with solid and guaranteed returns. Post Office Saving Schemes are one such possibility.

Post Office Saving Schemes are higher-yielding investment tools than fixed deposits. While fixed deposits are secured by banks, the interest rate and tax benefits are not as great as Post Office Saving Schemes.

The government backs the post office programmes, which provide interest rates ranging from 5.5 percent to 7.6 percent. Aside from such appealing interest rates, the Post Office Saving Schemes also minimises tax liability.

If you're interested in these, we've compiled a list of the three finest post office schemes to assure a profitable investment.

The scheme, as the name implies, is intended for a girl kid and can be opened for a girl under the age of ten. It can provide returns at a 7.6 percent interest rate. The Sukanya Samriddhi Yojana programme can be opened with as little as Rs 250 and has a maximum deposit of Rs 1.5 lakh. The interest earned under the Sukanya Samriddhi Yojana programme is tax-free, hence account holders under the SSY scheme can benefit from tax breaks under Section 80C of the Income Tax Act.

This account guarantees earnings with an annual interest rate of 7.4 percent and can be created by anyone over the age of 60. Deposits in the account must be made in multiples of Rs 1,000, and the maximum deposit a person can make is Rs 15 lakh.

The Public Provident Fund now offers an interest rate of 7.1% per annum with a minimum deposit of Rs 500 and a maximum deposit of Rs 1.5 lakh in one fiscal year. The account maturity time for the PPF programme is 15 years, omitting the year of account opening.