Are you seeking to put money into a secure monetary instrument for a long run funding? Moreover fixed deposit (FD), bonds or debt mutual funds, one can put money into a publish workplace small financial savings scheme. Amongst all these choices, one of many common small financial savings scheme is public provident fund (PPF).
Funding in public provident fund affords 7.1 p.c each year to buyers. The minimal funding one could make is ₹500 and the utmost is ₹1.5 lakh each year.
Traders are allowed to go for one withdrawal throughout a monetary yr after 5 years excluding the yr of account opening. This implies if an account was opened throughout 2010-11, the withdrawal may be taken throughout or after 2016-17. The quantity of withdrawal may be taken as much as 50 per cent of steadiness on the credit score on the finish of 4th previous yr or on the finish of previous yr, whichever is decrease.
Nonetheless, one can resolve to put money into different small savings schemes akin to given beneath.
Different small financial savings scheme moreover PPF
Put up workplace financial savings account: It affords 4 p.c curiosity each year. The minimal quantity that one can make investments is ₹500 to open the account.
Nationwide Financial savings Recurring Deposit: It affords 6.7 p.c curiosity on deposits. The minimal contribution to recurring deposit is ₹100 monthly.
Nationwide Financial savings Time Deposit: One can open a Nationwide Financial savings time deposit by depositing a minimal of ₹1,000. There are 4 tenures of this residue.
1-year-time deposit: It provides 6.9 per cent curiosity each year
2-year time deposit: It affords 7 per cent curiosity each year.
3-year time deposit: This affords 7.1 p.c each year.
5-year time deposit: This affords 7.5 per cent each year.
Nationwide Financial savings month-to-month earnings account: This account affords 7.4 per cent each year payable month-to-month. The minimal one can make investments on this scheme is ₹1,000.
Senior Citizen Financial savings Scheme: This scheme affords 8.2 p.c curiosity each year. And one could make a deposit of ₹1,000 and most upto ₹30 lakh.
Sukanya Samriddhi Account: One will get to earn 8.2 p.c each year. One can make investments anyplace between ₹250 to ₹1.5 lakh in a single yr.
(Supply: indiapost.gov.in)
Nationwide Financial savings Certificates (VIIIth challenge) (NSC): One will get to earn 7.7 p.c compounded yearly however payable at maturity on NSC. The minimal funding is ₹1,000 and in multiples of ₹100. There isn’t any most restrict.
Kisan Vikas Patra: It affords 7.5 p.c compounded yearly. The minimal funding is ₹1,000 and in multiples of ₹100 whereas there isn’t a most restrict.
Mahila Samman Financial savings Certificates: This scheme affords an curiosity of seven.5 p.c each year. The deposit may be made for an quantity between ₹1000 and ₹2 lakh.
