Which is best saving scheme in India?

Savings Plans Current Interest Rate
Public Provident Fund (PPF) 7.1%
KVP (Kisan Vikas Patra) 7.6%
Sukanya Samriddhi Yojana (SSY) 7.6%
Atal Pension Yojana N/A

Which scheme gives highest rate of interest?

Comparison table

Scheme Duration Rate of Interest*
NSC 5 years 6.8% p.a.
Post Office Monthly Income Scheme 5 years 6.6%
Senior Citizens Savings Scheme 5 years 7.4% p.a.
Kisan Vikas Patra 124 months (10 years and 4 months) 6.9% p.a.

Which is the best small saving scheme?

15-Year Public Provident Fund Account. National Savings Certificates. Kisan Vikas Patra. Sukanya Samriddhi Yojana Scheme.

Which is the best saving plan in India for middle class?

Public Provident Fund (PPF) is a popular investment option offered by the government. One can invest up to Rs 1,50,000 a year while a minimum of Rs 500 a year is needed to be invested. It is covered under Section 80C of the Income Tax Act, 1961.

Which is best for savings?

There are some savings schemes offered by the government, financial companies, and banks to encourage investors to invest more and earn high returns.

Best Saving Plans.

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Savings Plans Current Interest Rate
Recurring Deposits 6-7%
Post Office Monthly Income Scheme (MIS) 6.6%
Public Provident Fund (PPF) 7.1%
KVP (Kisan Vikas Patra) 7.6%

Which plan is best for saving?

Best Savings Plans in India

Plan Name Plan Type Maximum Maturity Age
SBI Life Smart Wealth Builder Plan Unit Linked Insurance Plan 70 years
HDFC Life Pension Super plus Plan Unit Linked Pension Plan 75 years
Future Generali Select Insurance Plan Unit Linked Insurance Plan 70 years
MetLife Money Back Plan Money Back Plan 65 years

Which scheme is best in Post Office 2020?


Small Savings Scheme Interest Rate Tax Deduction on Investment?
Post Office Time Deposit (4 year) 6.7% Yes
Kisan Vikas Patra (KVP) 6.9% No
Public Provident Fund (PPF) 7.1% Yes
Sukanya Samriddhi Yojana 7.6% Yes

How can I double my money?

Below are five possible ways to double your money, ranging from the low risk to the highly speculative.

  1. Get a 401(k) match. …
  2. Invest in an S&P 500 index fund. …
  3. Buy a home. …
  4. Trade cryptocurrency. …
  5. Trade options. …
  6. 10 best investments in 2021.
  7. 3 ways to know if your 401(k) is too aggressive.

Where can I get 1 interest on my money?

Join a credit union.

  • Open a high-interest online savings account. You don’t have to settle for cents of interest that you may get from a traditional brick-and-mortar bank’s regular savings account. …
  • Switch to a high-yield checking account. …
  • Build a CD ladder. …
  • Join a credit union.

How can I get rich in 50000 a month?

How To Get Monthly Income Of Rs 50,000?

  1. Fixed Deposit: At an interest rate of 7.0%, you have to invest Rs 1,26,654 at the beginning of each year for 25 years to accumulate Rs 85.71 Lakhs.
  2. SEE ALSO: How To Get Monthly Income.
  3. Benefits of Mutual Funds:
  4. You may Also Watch.
  5. Be Wise, Get Rich.
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What are the 4 types of investments?

There are four main investment types, or asset classes, that you can choose from, each with distinct characteristics, risks and benefits.

  • Growth investments. …
  • Shares. …
  • Property. …
  • Defensive investments. …
  • Cash. …
  • Fixed interest.

How can I invest money wisely?

7 Simple Principles to Invest Your Money Wisely No Matter Your…

  1. Start investing as soon as you begin earning. …
  2. Use automation to stay disciplined. …
  3. Build savings for short-term goals and emergencies. …
  4. Invest money to accomplish long-term goals. …
  5. Leverage tax-advantaged accounts for faster results.