Saving schemes are low-risk investment options designed to encourage disciplined savings while delivering steady returns to help investors achieve their financial goals.
Best Savings Plans
Post Office Recurring DepositNSCPPFP.O. Monthly Income SchemeSenior Citizens' Savings SchemeSukanya Samriddhi YojanaAtal Pension YojanaNPS KVP
Post Office Recurring Deposit
Tenure: 5 yearsReturns: 5.8% p.a.Features: Flexibility to withdraw half of the total balance after a year.
National Savings Certificate (NSC)
Tenure: 5 yearsReturns: 6.8% p.a.Features: Eligible for tax deduction under Section 80C of the Income Tax Act.
Public Provident Fund (PPF)
Tenure: 15 yearsReturns: 7.1% p.a.Features: Loans & advances can also be availed against the PPF account.
Post Office Monthly Income Scheme
Tenure: 5 yearsReturns: 7.4% p.a.Features: Investors can open multiple accounts but are limited to 4.5 lakhs & 9 lakhs (joint accounts).
Senior Citizens’ Savings Scheme (SCSS)
Tenure: 5 yearsReturns: 7.4% p.a.Features: Investors can open multiple accounts but are limited to 4.5 lakhs & 9 lakhs (joint accounts).
Sukanya Samriddhi Yojana (SSY)
Tenure: 21 years from date of opening, 18 in case of marriage.Returns: 8% p.a.Features: Exclusively for girl child.
Atal Pension Yojana
Tenure: Until the investor turns 60.Returns: Monthly pension between ₹1,000 - ₹ 5,000.Features: Available for non-taxpayer Indians aged 18-40.
National Pension System (NPS)
Tenure: Until the investor turns 60.Returns: 9-12% p.a.Features: Additional deduction up to ₹50,000 under section 80CCD.
Kisan Vikas Patra
Tenure: 115 monthsReturns: 7.5% p.a.Features: Can avail a loan against KVP.
Final Word
All these are government-backed schemes & are risk-free, with excellent returns to plan your retirement.