Q.Write any four Post Office savings schemes.

The Post Office runs government-backed small-savings schemes that give safe, assured returns and reach even rural savers who may not use commercial banks.

The post office savings organisation encourages the habit of thrift among common people by offering simple, secure schemes. Any four of them are:

1. Post Office Savings Account — an ordinary deposit account, similar to a bank savings account, on which a fixed rate of interest is paid.
2. Recurring Deposit (RD) Account — the saver deposits a fixed sum every month for a set period and receives the total with compound interest at maturity, ideal for regular small savers.
3. National Savings Certificate (NSC) — a fixed-period certificate bought for a lump sum; interest accumulates and is paid with the principal at maturity, and it also gives an income-tax benefit. …