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Tax Saving Scheme:  Post Office's Small Saving Schemes have been a great risk-free investment option. The schemes are popular among citizens because many of them offer higher interest rates than bank FDs. The investment in post office small saving schemes is protected by the government itself and the majority of these schemes offer tax-saving benefits. Below are the top tax saving investment schemes among post office small saving schemes.

Public Provident Fund (PPF)

The public provident fund is considered a long-term investment instrument. The maturity period in PPF is 15 years, investors can further increase the tenure as well. Under this scheme, investors get returns of 7.1 per cent annually. The investment instrument offers tax benefits under Section 80-C of the Income Tax Act.

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National Savings Certificate (NSC)

The Post Office National Savings Certificate (Post Office NSC) scheme offers the benefit of tax deduction under Section 80-C of the Income Tax Act. There is no upper limit for investment in the scheme. The post office provides a 7 per cent interest rate on investment under the National Saving Certificate. Investors can start investing by depositing Rs 1,000.

Sukanya Samriddhi Yojana (SSY)

SSY is being designed especially for daughters. Under this scheme, parents can open a SSY account for their girl child. The girl's age should not exceed 10 years. The government-run welfare scheme offers tax benefits under Section 80-C of the Income Tax Act. Currently, SSY offers interest at the rate of 8 per cent per annum.

Post Office Time Deposit

Post Office Time Deposit Scheme offers tax benefits under Section 80C of the Income Tax Act. A maximum investment of up to Rs 1.50 lakh can be made in this scheme. Under the scheme, you get interest at 7 per cent annually.

Senior Citizens Saving Scheme (SSSC)

Investors get the maximum interest benefit in SSSC, the scheme run by the post office. Investors get tax benefits under Section 80-C of Income Tax. At present this scheme is giving returns of 8.2 percent per annum.

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