If you are in a mood to invest in a small savings scheme, then it is very important to know which scheme is giving how much return. This method of investment is for those people who are looking for a safe investment option, that is, they are planning to move away from the stock market or schemes like mutual funds and invest somewhere else. In these small savings schemes, the investor not only gets good returns, he also gets income tax exemption of Rs 1.5 lakh under Section 80C of the Income Tax Act, 1961. Let us also tell you which small savings scheme is giving how much return.
This much return is being received in small saving scheme
- Post Office Saving Account: Anyone can open an account alone or jointly with someone. This account can be opened by depositing a minimum of Rs 500. There is no limit on maximum. This account gives returns of 4 percent per year.
- Recurring Deposit: This account can be opened with a monthly deposit of Rs 100. More than this can be deposited in minimum multiples of Rs 10. 6.7 percent interest is available on recurring deposit account.
- Monthly Income Scheme: This account can be opened with a minimum of Rs 1,000 and in multiples of Rs 1,000. A maximum of Rs 9 lakh can be deposited in a single account and Rs 15 lakh can be deposited in a joint account. This account gives an annual return of 7.4 percent.
- Senior Citizen Saving Scheme: The minimum amount that can be deposited in this account is Rs 1,000 and in multiples of Rs 1,000. Senior citizens can invest maximum up to Rs 30 lakh in this account. This account gives an annual return of 8.2 percent.
- Public Provident Fund: A minimum of Rs 500 and a maximum of Rs 1.5 lakh can be invested in PPF in a financial year. In this scheme, investors get a return of 7.1 percent.
- Sukanya Samriddhi Account: In a financial year, a maximum of Rs 250 and a maximum of Rs 1.50 lakh (in multiples of Rs 50) can be deposited in this scheme in lump sum or in several installments. In this scheme, investors get a return of 8.2 percent.
- National Savings Certificate (Eighth Issue): In this scheme, minimum amount can be deposited in multiples of Rs 1,000 and Rs 100. The special thing is that there is no maximum limit in this scheme. Investors get 7.7 percent return in this scheme.
- Kisan Vikas Patra: In this scheme, investors can deposit minimum Rs 1000 and multiples of Rs 100. There is no limit on maximum. In this scheme, investors get a return of 7.5 percent.
- Mahila Samman Saving Certificate: In this scheme, any woman can invest a minimum of Rs 1,000 and in multiples of Rs 100. The maximum limit is Rs 2 lakh. It gives an annual return of 7.5 percent.