There are several Saving Schemes available in India. Most of these Savings schemes are offered by Government of India while few such as Recurring Bank FDs are offered by Private & Nationalized Banks.
Complete List of Best Saving Schemes in India -
01) National Savings Certificate Scheme (NSC)
02) National Savings Scheme (NSS)
03) Post office Time Deposit Scheme
04) Post office Recurring Deposit Account (RDA)
05) Post office Monthly Income Scheme (MIS)
06) Post office Senior Citizen Scheme
08) Public Provident Fund (PPF)
Where to Buy the above Saving Schemes? -
All of the above Saving Schemes except PPF are available at the wide network of Post offices all over India. You have to just go to your nearest Post office and ask for the Application form. You have to just fill that form and they will provide you a Passbook/Certificate of any of the above Schemes.
PPF Scheme is available at any of the Indian Nationalized Bank.
Advantages of the Saving Schemes India -
- Safety of Principal
- Regular Income after Retirement
- Tax Benefits
- Nomination Facility
- Higher Guaranteed returns than Bank FDs
Things to Keep in Mind Before Investing in Saving Schemes -
Before investing in any of the above Savings schemes available in India, you should consider their Lock-in periods, Pre mature withdrawal facility, Tax benefits, Rate of return & several other factors.
If the scheme fits in your own Financial Plan, than and only you should Invest in that Scheme. Each and every Saving Scheme is designed for specific type of people. So first of all check that, weather you fall into that category or not. Otherwise you will be end up with the dead Investment…!!!
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