Is Your Hard Earned Money Safe In The Bank? Know How You Can Keep Your Money Safe?
You can invest your money in post office schemes of the bank. The biggest advantage of investing money in post office is that your money is completely safe here.
Often a question will come in your mind that where can the money be kept safe. Bank fraud has been reported many times. Money is withdrawn from the account and the bank is not even aware of it.
Recently, the Reserve Bank of India imposed strict control on transactions in Mumbai-based Punjab and Maharashtra Cooperative Bank for six months, in which the problems of customers have increased.
The same thing happened after demonetization, when customers have started harassing their deposits in the bank. In such a situation, the question now arises as to which is the safest place to deposit money …. So let us answer this question and the answer is post office.
Actually, people do not know that under certain circumstances your deposit held in the bank is not safe. If a bank defaults, then in that case the DICGC i.e. Deposit Insurance and Credit Guarantee Corporation guarantees just 1 lakh rupees security to the bank customers.
This rule applies to all branches of the bank. This includes both principal and interest. That is, if there is more than 1 lakh by adding both, then only 1 lakh will be considered safe.
Post Office is safe – Benefits too much:
Customers are also getting benefit in the form of interest on post office deposit schemes. Interest is getting up to 8.6% per annum on different schemes.
Post office FD Interest Percentage:
1 year: 6.9 percent
2 years: 6.9 percent
3 years: 6.9 percent
5 years: 6.9 percent
If there is a risk in the bank, then you can take advantage of post office schemes, here the government is guaranteed on your money. If the postal department fails to return the amount, then the post office deposit money is guaranteed.
That is, if the postal department fails to return the investors’ money, then the government goes ahead and guarantees the investors money. In any case, your money is not trapped here. The money used in the post office scheme is used by the government for its work, that is why the government also guarantees these money.
- Senior Citizens Savings Scheme: 8.6%
- Monthly income scheme: 7.6 percent
- Sukanya Scheme: 8.4 percent
- NSC: 7.9 percent
- Kisan Vikas Patra: 7.6 percent
- PPF: 7.9 percent
What happens to bank deposits:
Banks use the money deposited in the bank to grow their business. With this money, loans are given to common people or corporate. Many times a bank loan gets stuck or there is a big loss in business. In this case, it can also have an effect on the planets. So if you want risk free income, then you can earn more profit by investing in post office schemes.
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