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Small Savings Schemes: After reducing the repo rate of the Reserve Bank of India (RBI), banks have also reduced interest on fixed deposits (FD). Apart from FD, many banks are also losing interest rates on savings accounts. However, due to guaranteed returns, the trust of the people on FD still remains. Today we are going to tell you about some such government schemes through this news, in which there is no danger of drowning money and returns are more than FD.
Sukanya Samriddhi Yojana
In the Sukanya Samriddhi Yojana (Sukanya Samriddhi Yojana), investors are getting interest at the rate of 8.2 percent. The purpose of this savings scheme of the Government of India is to secure the future of the girls so that there is no obstruction in their education or marriage in the coming time. Under this scheme, their parents or legal guardians can open the account in the name of girls under 10 years of age.
In this, from Rs 250 to Rs 1.5 lakh can be deposited annually. This account can be opened by going to banks or post offices. The maturity period in the scheme is about the girl’s 21 years or 18 years of marriage. Under Section 80C of the Income Tax Act, 1961, it gets tax exemption up to Rs 1.5 lakh.
Farmer development letter
Kisan Vikas Patra is also a savings scheme of the Government of India, on which 7.5 percent interest is currently getting. Its most special thing is that the amount invested in it doubles in 115 months i.e. 9 years and 7 months. It is also a safe option of investment, which provides guaranteed returns.
In this scheme, minimum can start investing from Rs 1000 and there is no upper limit. In this also, under Section 80C of the Income Tax Act, 1961, it gets tax exemption up to Rs 1.5 lakh. You can get more information about this by visiting the Indian post website and or any bank website.
National saving certificate
The National Saving Certificate (NSC) gets interest at a rate of 7.7 percent annually. It is a maturity period year. In this too, minimum can start saving from Rs 1000 and there is no limit for maximum investment. NSC will have to pay income tax at interest rate.
Senior Citizen Savings Scheme (SCSS)
The aim of this scheme of the government is to give financial stability to the people after retirement. In this, the rate of 8.2 percent on the investment of retirement funds gets a big interest. People above 60 years can invest in the scheme. The minimum deposit limit is Rs 1000 and the maximum deposit limit is Rs 30,00,000. In this also, tax benefit is available up to Rs 1.5 lakh.
Post Office Monthly Income Scheme
Investors get interest at the rate of 7.4 percent on the money invested in Post Office Monthly Income Scheme. In this too, the maturity period is 5 years. You can start investing in this scheme with Rs 1,000. If you want, you can also invest in multiple rupees multiple rupees in it. The limit of maximum deposit for single account is Rs 9 lakh, the limit of maximum deposits for joint account is Rs 15 lakh.
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