Top 10 Best Saving Plans In India to Invest
WRITTEN BY Saumya Jaiswar
National Savings Certificate
This savings plan is a Government of India initiative that encourages investors, primarily those with low or middle-incomes, to invest while saving taxes.
Senior Citizen Savings Scheme
The senior citizen savings plan provides its investors with high levels of security, consistent income, and is an excellent tax-saving investment vehicle.
Also known as an RD, is a type of term deposit provided by banks. This savings plan is intended for those who can deposit money on a regular basis and want a large return at maturity.
Post Office Monthly Income Scheme (MIS)
This is a savings plan where you invest some amount for which an interest amount will be paid monthly.
Public Provident Fund (PPF)
It is the safest and most popular savings option in India as a government-backed savings scheme.
KVP (Kisan Vikas Patra)
The Indian Post Office's savings plan doubles any money invested over a period of 100 months, or eight years and four months. This savings plan requires a minimum investment of Rs. 1000.
Sukanya Samriddhi Yojana (SSY)
This is a savings scheme, which is specifically designed to secure the financial future of the girl child.
Atal Pension Yojana
his scheme is applicable for any individuals who are working in the unorganized sectors and those who require financial support from the government-sponsored welfare program.
Employee Provident Fund (EPF)
It is mandatory for salaried individuals to make an equal financial contribution towards the Provident Fund (PF) account to help plan out after retirement life.
Pradhan Mantri Jan Dhan Yojana
It offers cost-effective solutions related to accessing the financial services such as remittance, banking, pension, insurance, etc.
For more such stories stay tuned...