It is very important to know where and how to invest so that your hard-earned money does not go to waste. People have been investing in gold and property for a long time but these days the trend of investing money in the stock market and mutual funds has increased a lot. However, there is a lot of risk in the stock market and mutual funds, so one should invest his hard-earned money only after fully understanding it.
If you are also looking for a profitable scheme before Diwali, then here we are telling you about 4 such government policies that can give better returns in the future.
This scheme of Indian Postal Service is a low-risk investment option. Under this scheme, a fixed monthly income is available on the deposited capital.
All Indian citizens can invest in this scheme. Youths below 18 years of age can also become a part of this scheme with their guardians. A joint account can also be opened in this scheme of the Indian Post Office.
A minimum of Rs 1,000 can be deposited in the post office investment scheme. The maximum limit is Rs 9 lakh for a single account and Rs 15 lakh for a joint account. As of April 2024, this scheme has an annual interest rate of 7.4% and the tenure is 5 years.
This is a government fixed-income investment scheme. The National Savings Certificate Scheme encourages people to save by giving an exemption in the scheme under Indian tax law. Only Indian citizens can invest in this scheme.
A minimum of Rs 100 can be invested in the National Savings Certificate Scheme and there is no upper limit in it. As of April 2024, this scheme has an annual interest rate of 7.7 percent. In the National Savings Certificate Scheme, a tax deduction of up to Rs 1.5 lakh can be availed under Section 80C. This scheme is available in post office branches.
This is a small savings scheme, which was launched by the Indian government in the year 2023. This scheme has been brought to promote savings among Indian women. Women of any age can participate in the Mahila Samman Savings Certificate Scheme.
Girls below 18 years of age can become a part of this scheme with the help of their natural or legal guardians. Mahila Samman Savings Certificate Scheme offers an interest rate of 7.5%, which is credited quarterly directly to the account. The duration of this scheme is 2 years.
This is a government investment scheme specially designed for small girls. This scheme aims to promote the education of girls and also empower them financially at attractive interest rates.
Only girls aged 10 years can be eligible for this scheme. A minimum of Rs 250 can be invested in Sukanya Samriddhi Yojana and the upper limit has been fixed at Rs 1.5 lakh per annum. As of April 2024, this scheme has an interest rate of 8.2% per annum. Amount can be deposited in Sukanya Yojana only for the first 15 years and it remains active only till the girl turns 21 years old.
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