Facebook Twitter Instagram
    • Home
    • About us
    • Disclaimer
    • Privacy policy
    • Contact us
    Facebook Twitter Instagram Vimeo
    Artistwriters
    • Home
    • Featured
    • Entertainment
    • Gaming
      • Sports
    • Business
      • Finance
      • Real Estate
    • Fashion
    • Tech
      • Automobile
      • Digital Marketing
    • Health
    • More
      • Daily bites
      • Lifestyle
      • Pets
      • Travel
      • Fitness
      • Education
      • Law
      • Home Improvement
    Artistwriters
    Home » Important Facts to Know About the Savings Schemes in India
    Finance

    Important Facts to Know About the Savings Schemes in India

    Ghiselle RoussoBy Ghiselle RoussoJanuary 14, 2023No Comments4 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp VKontakte Email
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Savings schemes in India bring multiple benefits, and it’s time to get familiar with the different options. It helps you explore life better and easily deal with financial crisis. However, before you invest, you must learn the details of the schemes. 

    It helps you eliminate all confusion, and you will find it easy to invest. And it’s good to choose a monthly income scheme that helps you receive interest payouts monthly.  it becomes easy to choose a savings scheme that gives you the confidence to live a better life. The representatives will reveal the schemes’ details, and thus you will find it easy to make the right decision.

    Get Familiar with the Savings Schemes in India

    Here, you get a clear idea of the savings schemes in India:

    Public Provident Fund

    A public provident fund is a good savings scheme; usually, it comes up with an interest rate of 8% per year. The scheme’s duration is 15 years, and you can increase the duration for 5 more years. A public provident fund helps you generate a stable source of income, and you start investing with a minimum amount of Rs. 500.

    Kisan Vikas Patra

    The Kisan Vikas Patra is one of the popular savings schemes in India. Presently, the scheme is offering an interest rate of 7.7%. The interest is compounded annually, and you can start investing a minimum amount of Rs.1000, and there is no maximum limit. Usually, within 112 months, the invested amount becomes double, and thus it helps you eliminate all monetary crisis.

    National Savings Certificate

    It’s another good savings scheme in India, and the India Government authorizes this scheme. The tenure is 5 years, and it’s the best option if you want to develop a long-term investment plan. It helps you get guaranteed returns, and even you will enjoy tax benefits. In addition, the Indian Government offers interest rates every quarter; the basic interest rate is 8.0%.

    National Pension System (NPS)

    The Central Government launched this scheme for retired personnel. This scheme will help you generate good returns, and there will be good income after retirement. And employees need to pay a small premium that helps them enjoy the benefits in real time. You will receive an amount at the time of retirement, and also you will receive a pension every month. It helps you meet the expenses; thus, life after retirement becomes easy.

    Fixed Deposits

    Fixed deposit is the best investment option, generating steady returns. It’s the safest option, and market inflation won’t affect the interest rate. Thus, your money will be completely safe, and you will learn why investing in fixed deposit accounts is good. Fixed deposit interest rates vary for different NBFCs, and senior citizens receive a higher interest rate. It’s easy to open an FD account, and the NBFC representative will help you open your FD account.

    Senior Citizens Savings Scheme (SCSS)

    People above 60 years are eligible to invest in this scheme. The interest rate is 7.6%, and you can invest a minimum amount of Rs.1000. The maximum limit is Rs 15 lakh. The scheme is 5 years, and you may extend the scheme for 3 more years. And there will be a deduction on principal, and thus it helps you handle monetary crisis confidently.

    Sukanya Samriddhi Yojana

    It’s a Government savings scheme, and it’s the best option to save for a girl child. This scheme is a good option for girls above 10 years or younger. This scheme has an interest rate of 7.6%, and you must invest a minimum of Rs.1000 annually. A legal guardian of the girl child will open the account, and t gets matures after 21 years from the date you opened the account or during the marriage of the girl after the age of 18. 

    Atal pension Yojana

    This scheme is a suitable option for people under the poverty line. And it even helps investors to get financial help from the Government. Moreover, this scheme requires investors to pay a small premium, and you will receive a pension post-retirement. Thus, you will learn how this scheme brings benefits, and thus you can invest confidently.

    Overall, you get a clear idea of the investment schemes and can even learn how a monthly savings scheme brings beneficial solutions. Bajaj Finserv is one of the leading NBFCs in India, and they have come up with multiple savings schemes.

    Read More: https://artistwriters.com/

    Share. Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp Email
    Previous ArticleWhat Are The Top Advantages Of Depending On The Test Series For UPSC?
    Next Article Is Eyebrows Threading Right for You?
    Ghiselle Rousso
    • Website
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    • Tumblr
    • BlogLovin
    • LinkedIn

    Guest Blog News Visit Also Kate Johnson is a content writer, who has worked for various websites and has a keen interest in Online Signals Report and Stock portfolio generator. She is also a college graduate who has a B.A in Journalism. Read More: Fin Scientists >> Read More: Stocks Signals Mobile App >> Read More: Crypto Signals >> Read More: Crypto Trade Signals App >> Read More: Trade Signal Buy and Sell Paid Guest Blog News

    Related Posts

    How to Go About Preparing Your Company’s Tax Returns

    February 2, 2023

    What Is Maximum Tenure Allowed for Personal Loan Repayment Schedule?

    February 1, 2023

    Is a Personal Loan with a Longer Repayment Term a Good Idea?

    January 31, 2023

    Understanding the Personal Loan Disbursement Process

    January 31, 2023

    Comments are closed.

    Latest posts
    Gaming

    Why You Should Buy a CS:GO Prime Account?

    By Ghiselle RoussoFebruary 2, 20230

    The CS:GO Prime status upgrade is one of the best things that has happened to…

    Why Choose My Academic Helps for Business law Assignment?

    February 2, 2023

    How to Choose the Right Disability Care Company

    February 2, 2023

    Vaishnavi Houdini Luxury Apartment Bandlaguda Jagir

    February 2, 2023
    Facebook Twitter Instagram Vimeo
    • Home
    • About us
    • Disclaimer
    • Privacy policy
    • Contact us
    Copyright 2021 Artistwriters All Rights Reserved

    Type above and press Enter to search. Press Esc to cancel.