If you want to add big money from small savings, then these 5 schemes of the government can prove beneficial for you. You can take them according to your need. There is also no fear of risk in them.
There is no problem in difficult times, so it is very important to have a good bank-balance. Therefore, if the habit of saving is adopted from the beginning, it is better. But the problem comes in which scheme to invest money, because there are many types of schemes available in the market these days. In such a situation, we will tell you about some schemes in which you can invest with small amount and get more profit.
These schemes are also reliable in terms of security as these schemes are being run by the government. The fear of risk in them is negligible. The good thing is that you can take these schemes according to your different needs. For example, for daughter’s marriage, children’s education, home etc.
Sukanya Samriddhi Yojana
Sukanya Samriddhi Yojana of the post office is a very popular scheme. Most people invest in this scheme for their daughter’s wedding. If you want, you can also use it for his education. Its maturity period is 21 years, but the investment has to be made for only 14 years. A minimum amount of Rs 250 has to be deposited every year. While its maximum limit is 1.5 lakh rupees. About 7.6 percent interest is being given in it. In this, you can withdraw 50% of the total deposit when the daughter is 18 years old. While the entire amount can be withdrawn at the age of 21 years.
National Pension System
This scheme, run by PFRDA, provides a lump sum amount at the age of 60 with monthly income. People between 18 and 65 years of age can invest in it. There are two types of accounts in NPS. First Tier-I and second Tier-II. Tier-I is a retirement account, which is mandatory for every government employee to open. At the same time, Tier-II is a voluntary account, in which any salaried person can start an investment on his behalf and withdraw money at any time.
Public provident fund
PPF is a better scheme for small savings. With this you can add large amount of money. Its maturity period is 15 years. However, it can be extended for another 5-5 years. There is no tax on investment of up to one and a half lakh rupees. In this, 7.1 percent interest is being paid annually. You can open a PPF account in any government bank or post office.
Senior Citizen Saving Scheme
Senior Citizen Savings Scheme-SCSS of Post Office is a better option for senior citizens. This scheme is for 5 years. You can invest up to 15 lakh rupees in it. After maturity, this scheme can be extended for 3 years. The minimum deposit amount to open an account should be Rs 1,000.
National Savings Certificate
Another scheme of the post office is quite popular in which millions can be benefited on investment. Its name is National Savings Certificate NSC. In this, you can open an account with 100 rupees. Its maturity period is 5 years, but you can extend it 5 times for five years. Under this scheme you can invest from 100, 500, 1000, 5000 and 10 thousand rupees, there is no maximum limit.
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