Last updated:
Best Small Savings Schemes- After the cut in interest rates by banks, the dilemma has arisen in front of investors who do not take risks. They are looking for such investment options in which the return is also fine …Read more
Many people invest money in smaling saving schemes.
Highlights
- Sukanya Samriddhi Yojana is getting more than 8 percent interest.
- The National Saving Certificate is also giving excellent returns.
- Guaranteed returns are also being received in the Kisan Vikas Patra.
New Delhi. Since the reduction of the rate of RBI rate of the Reserve Bank of India, on the one hand, the home loans have been relieved, while the interest of bank FD has reduced. Almost all banks including State Bank of India and HDFC Bank have reduced the interest rates of FD. But, by putting money in many small savings schemes, you can still get great returns. These schemes are getting interest from 7.5 per cent annually to 8.2 per cent.
National saving certificate
7.7 percent returns are being received on the money invested in the National Saving Certificate (NSC). The lock-in period of this scheme is five years. Tax exemption is given under Section 80C of the Income Tax Act on Rs 1.5 lakh in NSE throughout the year. Yes, it must be known that you will have to pay income tax on the interest income of NSE.
Post Office Monthly Income Scheme
Investors are getting 7.4 percent returns on the money put in the post office monthly income scheme. The maturity period of this scheme is five years. The minimum deposit in the post office monthly income scheme is Rs 1,000. It can be invested in multiple Rs 1000. The limit of maximum deposit for single account is Rs 9 lakh. The limit of maximum deposit for joint account is Rs 15 lakh.
Farmer development letter
Kisan Vikas Patra is a lump sum deposit scheme. At present, 7.5 percent interest is being received on this scheme. Investors who do not take risks invest a lot of money in small savings schemes and bank FDs. Bank FD is the favorite investment option of Indians. Due to the risk of drowning money and getting guaranteed returns, a lot of money is invested in the firing deposit. In the Kisan Vikas Patra Scheme, you can invest in minimum 1000 rupees and 100 multiple. There is no limit for maximum investment.
Senior Citizen Saving Scheme
If you want to put your retirement fund in a place where you get a big interest, then there is nothing better than Senior Citizen Savings Scheme for you. Only people above 60 years of age can invest in this scheme and it is currently getting 8.2 percent interest. Up to Rs 30 lakh can be invested in Senior Citizen Saving Scheme.
