Saving Schemes

Effective tax planning is essential for reducing tax liabilities and enhancing income. The Income Tax Act outlines various deductions for investments, savings, and expenses incurred during a financial

The government on Monday left the interest rates on various small savings schemes including PPF and NSC unchanged for the third straight quarter beginning October 1, 2024. "The rates of interest on various small savings schemes for the third quarter of FY 2024-25, starting from October 1, 2024, and ending on December 31, 2024, shall remain unchanged from those notified for the second quarter (July 1, 2024, to September 30, 2024) of FY 2024-25," said a finance ministry notification. As per the notification, deposits under the Sukanya Samriddhi scheme will attract an interest rate of 8.2 per cent, while the rate on a three-year term deposit remains at 7.1 per cent. The interest rates for popular Public Provident Fund (PPF) and post office savings deposits schemes too have been retained at 7.1 per cent and 4 per cent, respectively. The interest rate on the Kisan Vikas Patra will be 7.5 per cent, and the investments will mature in 115 months. The interest rate on the National Savings

Senior citizens need to select investment tools wisely ensuring regular returns with low risk. Explore these 5 investment options for senior citizens

Mahila Samman Savings Certificate can be applied by women for personal investments or by guardians for minor girls.

If you are planning to apply for a Post Office Savings Scheme, have a look at the different types of Post Office Savings Schemes.

The government provides various options for citizens to plan their financial security

Unlocking financial security: Exploring the senior citizen savings scheme (SCSS)

The savings scheme for senior citizens is a government-backed scheme which ensures regular money flow post-retirement. The scheme gives guaranteed returns every quarter to senior citizens

The scheme was announced by Union Finance Minister Nirmala Sitharaman during her Budget speech this year

However, this scheme for women offers no tax benefit and is subject to potential reinvestment risk

Mahila Samman Saving Certificate to be available for two years till March 2025, offers 7.5% return, with provision for partial withdrawal

The government on Friday hiked the interest rates on small deposits -- including post office term deposits, NSC and senior citizen savings scheme -- by up to 1.1 percentage points from January 1, in line with firming interest rates in the economy. However, the interest rates on Public Provident Fund (PPF) and the girl child savings scheme Sukanya Samriddhi has not been changed. National Savings Certificate (NSC) will yield a 7 per cent interest rate from January 1, compared to 6.8 per cent at present. Similarly, the senior citizen savings scheme will give 8 per cent interest against 7.6 per cent currently. Interest rates on Post office term deposit schemes of duration 1 to 5 years will rise by up to 1.1 percentage points. The monthly income scheme too will yield 7.1 per cent interest, up from 6.7 per cent.

Some see potential in the newly introduced passive option, other see promise in active ELSS

Buying in tranches will also help you deal with interest-rate risk

In 2017-18, West Bengal accounted for 15 per cent of the total contributions made to the NSSF; its share increased from 12.4 per cent in 2007-08

But be ready for lock-in till the age of 60, volatility, mandatory annuitisation

The finance ministry has been nudging public sector banks to pass the whole repo rate cuts to retail loans for pushing consumption

The savings bank rate and the debt fund rate of return are variable and market-driven

If you were mis-sold this product with the promise of regular dividend, you should exit it

It further proposed that investments up to Rs 1.5 lakh under DLSS be eligible for tax benefit, subject to a lock in period of 5 years.