There are a number of government schemes which can be worthy of funding and with the Modi government promising to not scale back the rates of interest of saving schemes, there’s icing on the cake for the staff.
However, are you conscious of the truth that sure schemes guarantee one in every of nice returns and these are none apart from small financial savings schemes?Â
The high three small financial savings schemes run by the government of India are Senior Citizens Savings Schemes (SCSS), Public Provident Fund (PPF), and Sukanya Samriddhi Yojana they usually include the National Saving Certificate (NSC), Public Provident Fund (PPF), Kisan Vikas Patra (KVP) and Sukanya Samriddhi Scheme.Â
Sukanya Samriddhi Scheme
The investments could be finished with as little as Rs 250 and with multiples of Rs 150 and an annual cap of Rs 1,50,000 in a monetary yr. The investments could be made as much as 21 years and the utmost as much as which deposits could be made is 15 years from the date of opening of the account.
 Senior Citizens Savings SchemeÂ
The Senior Citizens Savings Scheme (SCSS) offers safety to retired staff who need an assured return. This scheme requires one to be aged 60 years and people who have retired on superannuation or underneath a voluntary or particular voluntary scheme, the age requirement is 55 years. Rs 1000 is the minimal funding and the utmost is Rs 15 lakh with a tenure of 5 years that may additional be prolonged by 3 years.Â
PPF
The PPF account could be opened with a minimal quantity of Rs 500 and the utmost can go as much as Rs 1.5 lakh with a maturity interval of 15 years. It could be prolonged for one other 5 years. The fee of rate of interest is 7.10%. Â
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