Worried about your savings in this lockdown 2.0 & don’t know what to do? Then, we have some good investment plans for you. If you are the kind of investor who is looking for a stable, secure & investments schemes backed by the Government of India, then this article will surely help you!
These investment schemes offer long-term investments, huge benefits, stable income, tax efficiency, retirement planning and much more.
Top Indian Government Schemes for a secure future:
1. Sukanya Samriddhi Yojana (SSY):
Sukanya Samriddhi Yojana Scheme was launched with an aim to encourage the parents to secure the future for their daughters. It was launched in the year 2015 by Indian PM Narendra Modi under the ‘Beti Bachao, Beti Padhao’ campaign. It targets towards the minor girl child. SSY account can be opened in the name of the girl from her birth to any time before she turns 10 years old. You only need a minimum investment amount from Rs 1,000 to a maximum of INR 1.5 lakh per year.
2. National Pension Scheme (NPS):
It is one of the famous schemes provided by the Government of India. It is a perfect retirement saving scheme which is open to all the Indians, though mandatory for all the government employees. NPS aims to provide retirement income to the Indian citizens. Citizens of India & NRIs in the age group of 18 - 60 can subscribe to this scheme. It is to be noted that Investments made up to Rs 50,000 are liable for deductions under section 80 CCD (1B). Additional investments upto Rs 1,50,000 are tax deductible under Section 80C of the Income Tax Act.
3. Public Provident Fund (PPF):
PPF is known as one of the oldest retirement scheme which was launched by the Government of India. Interestingly, the amount invested in this scheme, interest earned, plus the withdrawn amount is all exempted from tax. Therefore, the PPF Scheme is not only safe, but also can help you save taxes. Here, one can claim tax deductions upto Rs 1,50,000 under section 80C of Income Tax Act.
4. National Savings Certificate (NSC):
National Saving Certificate or NSC launched by the Government of India promotes the habit of savings amongst the Indians. You will be surprised to know that the minimum investment amount for this scheme is just Rs 100 & also there is no maximum investment amount. However, the interest rate of NSC changes every year. For FY 17-18 the interest rate of NSC was 7.6% p.a. You can claim tax deduction of Rs 1.5 lakh under Section 80C of the Income Tax Act. It is to be noted that only Indian residents are eligible to invest in NSC scheme.
5. Atal Pension Yojana (APY):
APY is launched by the Government of India for providing a social security scheme for the workers in the unorganized sector. The eligibility required for this scheme is the person must be an Indian citizen in the age group of 18-40 years with a valid bank account. Atal Pension Yojana aims to encourage individuals from the weaker section to opt for a pension, to benefit them during their old age. APY can also be taken by anyone who is self-employed. You can enroll for Atal Pension Yojana with your bank or post office. But, the only limitation in this scheme is that the contribution must be made until the age of 60.
6. Pradhan Mantri Jan Dhan Yojana (PMJDY):
PMJDY launched by the Government of India aims to provide easy access to basic banking services such as a Savings Account, deposit account, pension, insurance, credit and much more, to the Indians especially to the poor. The minimum age limit in this PMJDY for a minor is 10 years. Any Indian resident over the age of 18 years is also eligible to open this account. One can exit this scheme after reaching 60 years.
Disclaimer: All efforts have been made to make sure that the above information is accurate. No guarantee is made regarding correctness of data. You must verify with all scheme information document before making any investment.
