Investment Tips 2023 These government schemes give interest like FD, see the complete list here

Finance

Investment Tips 2023 These government schemes give interest like FD, see the complete list here

CRAZY NEWSX

August 15, 2023

Investment Tips 2023 These government schemes give interest like FD, see the complete list here — Investment Tips These government schemes

Investment Tips: These government schemes give interest like FD, see the complete list here

Sukanya Samriddhi Yojana: This is a savings scheme launched in 2015 for the girl child under the ‘Beti Bachao Beti Padhao’ campaign. It offers tax benefits under section 80C of the Income Tax Act, and one can invest a minimum of Rs 1,000 and a maximum of Rs 1.5 lakh per annum. The account remains operative for 21 years.
National Pension Scheme: This government-backed scheme was launched in 2004 for government employees and later opened to all citizens in 2009. It is one of the best retirement saving plans and allows investments tips in equity, corporate bonds, and government securities. Investments up to Rs 50,000 are eligible for deduction under Section 80CCD (1B), while additional investments of up to Rs 1,50,000 can be claimed for tax deduction under section 80C of the Income Tax Act.
Public Provident Fund: PPF is a popular long-term investment scheme backed by the Government of India. It offers an attractive rate of interest, and returns earned from this scheme are fully exempt from tax. An investor can claim a tax deduction of up to Rs 1.5 lakh under section 80C of the Income Tax Act.
National Savings Certificate: This is a fixed investment savings scheme that can be opened in a post office. The minimum investment required is Rs 100, and there is no maximum limit. Investments up to Rs 1.5 lakh are eligible for tax deduction under section 80C of the Income Tax Act. The scheme has two maturity periods of 5 years and 10 years.
Atal Pension Yojana: Launched in 2015, this is a guaranteed pension scheme operative under the Pension Fund Regulatory and Development Authority (PFRDA). It is designed to encourage individuals from weaker sections to choose a pension plan for a better future. Citizens aged 18 to 40 years with an account in a bank or post office can apply for this scheme. The investor gets a guaranteed pension ranging from Rs 1,000 to Rs 5,000 based on the investment amount and tenure of the scheme.
Pradhan Mantri Jan Dhan Yojana: This scheme was launched in 2014 to provide financial services and products to individuals who do not have access to a bank account. Any Indian resident aged 18 years or above can open a zero balance account under this scheme. Overdraft facility is allowed after satisfactory operation of the account for 6 months.
Kisan Vikas Patra: This is a savings certificate scheme sponsored by the Government of India. It was initially introduced only for farmers but is now open to all. The tenure of the scheme is 112 months, and one can make a minimum investment of Rs 1,000 with no upper limit. No tax benefit can be gained from this scheme, but one can hold it as collateral for a bank loan.