Saving schemes in India
Saving schemes in India are maintained and organized under various banks and non-financial services.There are several fixed returns plan provided by government saving schemes in India for fixed tenure and at the end of tenure returned with a fixed amount.
There are several plans for the individuals and also provide special interest for women, senior citizens from various schemes.We are provide basic plans and detail for the various latest government savings schemes which provide guaranteed return without loss principle amount.
- Fixed deposits are preferred option for the safest investment and it offers guaranteed returns.Usually the tenure of the FD in the range between 7 days to 10 years. Based on tenure individual get interest.
- There are tax saver fixed deposits which consists minimum 5 year tenure for the tax deduction under Income tax act 80C.
- The interest is calculated based on the amount, interest rate and interest computation frequency.
Public Provident Fund
- Public provident fund are option for the long term investment and anyone get guaranteed returns after the tenure of 15 years.
- PPF account open with minimum 100 INR and yearly minimum 500 to 1,50,000 INR can be deposited by citizen and based on the compounding interest quarterly, at the end of financial year interest credited into the bank account.
- PPF account deposits and interest are tax free under Income tax act and also provide loan against investment in PPF account.
- This are basically deposits monthly fixed income in installments for the fixed tenure, and at the end of tenure the fixed return are credited into the account.The return given by recurring account is taxable.
- The recurring deposits are good option for those invest small amount in the monthly installments and get good return of the amount. The tenure of Recurring deposits is 6 months to 10 years.
Kisan Vikas Patra Account
- Indian Post office provides a very good investment option for those want to money doubled in 10 years. Kisan Vikas Patra account, individual can deposits an one time money for 10 year and at the end of tenure money get doubled.
- Kisan Vikas Patra account also provides premature withdrawl facilities for individuals.
Soveregin Gold Bond
- Reserve bank of India launched a scheme that provides fixed return of 2 % till 8 years and after that individual can get return of gold at the rate of post 8 years.
- Individiual can deposits an amount , on that amount government of India buy gold and at the maturity they provide returned value. This is a good investment opportunity to invest in gold without any physical risk.