InvestorQ : Why are post-office savings schemes so popular in India?
Priyanka Singh made post

Why are post-office savings schemes so popular in India?

Answer
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Gauravi Patel answered.
1 year ago


India Post, the government-operated postal system in India, offers Indian citizens a variety of savings schemes which are known as post-office savings schemes.

The savings schemes offered by India Post are:

1. Post Office Savings Account

2. Five-Year Post Office Recurring Deposit Account (RD)

3. Post Office Time Deposit Account (TD)

4. Post Office Monthly Income Scheme Account (MIS)

5. Senior Citizen Savings Scheme (SCSS)

6. 15-year Public Provident Fund Account (PPF)

7. National Savings Certificates (NSC)

8. Kisan Vikas Patra (KVP)

9. Sukanya Samriddhi Accounts (SSA)

India Post offers a number of savings schemes including fixed deposits (FDs) monthly income schemes (MIS) and recurring deposits (RDs).

The reason these post-office savings schemes are so popular is because these financial products provide reliable and risk-free returns on an individual’s investment. The fact that the India Post is backed by the central government provides it another layer of security that helps people invest in it without any fears of default.