Sukanya Samriddhi Yojana is getting 7.6 percent interest.
Small Savings Schemes: It is said that the ocean fills with drops. The same formula works in savings. By saving small, you can collect a large amount. The Government of India has started many Savings Schemes for saving and security for the common man. By investing in these schemes, not only can you fulfill your future target, but your money is also completely safe here.
Now the problem is that which savings plan will be right for us and which plan gets more returns, how to know this. To solve this problem, market experts of Zee Business are putting every aspect of every plan in front of you.
The government has launched several schemes including Sukanya Samriddhi Yojana, Kisan Vikas Patra (Kisan Vikas Patra-KVP), Senior Citizen Savings Scheme-SCSS, Public Provident Fund (PPF investment) for girls. Huh.
Sukanya Samriddhi Yojana (Sukanya Samriddhi Yojana)
Sukanya Samriddhi Yojana Scheme is only for daughters up to 10 years old. 7.6 percent interest is being received on this scheme. In this scheme, the amount will double in 9 years and 4 months. Maximum 1.5 lakh rupees can be deposited in this scheme in a year.
In Sukanya Samriddhi Yojana, you can open an account for your two daughters. For 10 years after the birth of a daughter, you can open this account with a deposit of at least 250 rupees for your daughter in any government bank or post office. At the age of 21, daughters can withdraw money from this account. After the age of 18, up to 50 percent of the amount can be withdrawn for the higher education of the child.
Public Provident Fund
PPF is the most popular scheme in terms of saving income tax. Investment in PPF matures in 15 years. There is a lock-in period of 5 years. You can also deposit 500 rupees in PPF account. Interest is being given on this scheme at 7.1 percent.
Under Section 80C of Income Tax, tax exemption can be availed on investment of Rs 1.5 lakh in this scheme.
Kisan Vikas Patra (Kisan Vikas Patra)
Kisan Vikas Patra (KVP) is a savings scheme available in post offices in India in the form of certificates. PPF account can be opened in any post office or any government bank. In Kisan Vikas Patra Yojana, you can buy Kisan Vikas Patra Certificate of Rs 1,000, 5,000, 10,000 or Rs 50,000. You have to invest at least 1000 rupees, there is no limit for maximum investment.
Currently, 6.9 percent interest is being received in Kisan Vikas Patra. It is promised in the Kisan Vikas Patra that your investment will double in 10 years and 4 months.
Senior Citizen Saving Scheme
Senior Citizen Savings Scheme has been made for people above 60 years of age. The annual interest rate of this scheme is 7.4 percent. Interest on the scheme of senior citizens is paid on a quarterly basis. After 5 years from the date of opening the account, the deposit matures, but this period can be extended only once for 3 years.
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