Detailed Comparison of Top Saving Schemes in India and How to Obtain Great Benefits from Small Saving Schemes? · Content Duplication Tool

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Here are 10 Saving Schemes and Plans where you can Invest for a Secure Future:

Sukanya Samriddhi Yojana (SSY): The SSY scheme is a government-backed scheme that can be opened by the guardians of a girl child aged below ten years. Parents need to contribute for 15 years. A person gets a tax deduction of up to Rs.1.5 lakh per year under Section 80C. An utmost of two such accounts can be opened per household, one for each girl child. People can capitalize a minimum of Rs.250 and maximum of Rs.1.5 lakh per annum. The rate of interest is 7.6% p.a. The term of the account is 21 years from the date of opening or until the girl child gets wedded after 18 years. The scheme permits a partial withdrawal of up to 50% of the balance after attaining 18 years to meet higher education expenses.

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4. National Savings Certificate (NSC)

Under Section 80C, tax deductions on the investment can be claimed up to Rs.1.5 lakh. Presently, the interest rate of 6.8% p.a. is applicable. Interest will be accumulated annually and paid only upon maturity. The interest accrued is taxable upon maturity and must be added to the gross annual income. Under Section 80C, the interest reinvested and multiplied is eligible for a tax deduction.

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Here are 10 Saving Schemes and Plans where you can Invest for a Secure Future:

4. National Savings Certificate (NSC)