These 4 schemes of the government are a better option for your safe investment. These schemes encourage common people to save for their future needs.
If you are looking for an option to invest, then 4 special schemes are being run by the government for your investment. You can get good returns by investing in them. These 4 schemes of the government are a better option for your safe investment. These schemes encourage common people to save for their future needs. These schemes are for senior citizens, women, farmers and salaried individuals. tax exemption Also gives the benefit of. Along with this, they help the government to raise funds for various projects for the development of the country.
There are 4 government supported schemes available to common people through banks and post offices across the country.
- A minimum investment of 1000 is necessary in the National Savings Monthly Income Account Scheme. The maximum limit for single account is Rs 9 lakh. 15 lakhs for joint account. The maturity period of this account is 5 years and in this you get interest at the rate of 7.4%.
- National Savings Time Deposit Account offers four part Time Deposit accounts with a minimum deposit of Rs.1000 and no maximum limit. The amount deposited in a five-year fixed deposit account is eligible for deduction under section 80-C of the Income Tax Act. The rate of interest varies from 6.80% to 7.5% depending on the tenure of the deposit.
- Senior Citizen Savings Scheme allows individuals aged 60 years or more to open an account with a minimum deposit of Rs 1000 and a maximum limit of Rs 30 lakh. Retired defense personnel who are 50 years or above can also open the account. The account can be opened individually or jointly with the spouse and offers an interest rate of 8.20%.
- National Savings Certificate requires a minimum deposit of Rs 1000 and there is no maximum limit. The account matures in 5 years and offers an interest rate of 7.7%. Joint accounts can be opened by three adults payable to both the holders jointly or to the survivor.
- The Public Provident Fund Scheme allows a minimum deposit of Rs.500 and the maximum deposit amount is Rs.1,50,000 in a financial year. The account matures on completion of fifteen full financial years. Along with this, this scheme provides loan and withdrawal facility. The account can be extended indefinitely with the prevailing rate of interest. Explain that the objective of government savings schemes is to promote the culture of savings in the country and provide safe investment options to individuals.
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