Best 5 Years Savings Scheme: In India, there are many savings schemes available with a maturity of 5 years, which offer different interest rates. Fixed deposits (FDs) are the most popular among them. This facility is available in government and private banks as well as post offices. Some companies and non-banking financial companies (NBFCs) also offer FDs. It allows investors to earn assured returns by depositing money for a fixed period.

Post Office's National Savings Certificate (NSC) and Senior Citizens Savings Scheme (SCSS) are quite popular among investors, as they offer high interest rates. SCSS is only for senior citizens, but you can open an account in the name of your parents. If you want to make a risk-free investment for 5 years, it is important to understand which of these two will give you more benefits.

SCSS Calculator-

Senior Citizens Savings Scheme is currently getting 8.2 percent annual interest, which is paid every quarter. If you deposit Rs 10 lakh in lump sum in this scheme, then the amount received on maturity of 5 years will be Rs 14,10,000. Keep in mind that on depositing Rs 10 lakh, you will get Rs 20,500 interest every 3 months. If this interest is not withdrawn, the maturity amount will be Rs 14,10,000. However, the final amount will be reduced if the interest is withdrawn. Another thing is that interest is not paid on interest in this. Interest will be received only on the principal amount.

Lump sum deposit: Rs 10,00,000
Annual interest: 8.2%
Maturity period: 5 years
Quarterly interest: Rs 20,500
Amount on maturity: Rs 14,10,000
NSC Calculator-
National Saving Certificate is a 5-year savings scheme of the post office, which gives 7.7% compound interest annually. In this scheme, interest is compounded annually and is received together on maturity. If you invest a lump sum of ₹ 10 lakh in it, then after 5 years on maturity you will get ₹ 14,49,034, of which ₹ 4,49,034 will be interest.

Lump sum investment: Rs 10,00,000

Annual interest: 7.7% compounded annually

Maturity period: 5 years

Amount on maturity: Rs 14,49,034

Interest benefit: Rs 4,49,034

FD Calculator -
General citizens and senior citizens have different interests in bank's Fixed Deposits. Senior citizens usually get 50 basis points i.e. half a percent more interest than the general.

In the major government and private banks of the country, senior citizens are getting attractive interest up to 7.60% per annum, while general citizens get a maximum of 7.10% interest. If a senior citizen deposits ₹ 10 lakh, he will get ₹ 14,57,081 on maturity, out of which ₹ 4,57,081 will be the benefit of interest only. This is a great opportunity for senior citizens to get great returns on their savings.

Lump sum investment: Rs 10,00,000
Annual interest: 7.7% compounded annually
Maturity period: 5 years
Amount on maturity: Rs 14,57,081
Interest benefit: Rs 4,57,081

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