Post Office: Individuals often enter the new year filled with aspirations and ambitious goals. A significant number of people choose to begin investing at this time to secure a better future for their families. If you are considering making investments in the upcoming year, this discussion will introduce several government-backed investment schemes that offer guaranteed fixed returns.
Kisan Vikas Patra
The Kisan Vikas Patra (KVP) scheme currently provides an interest rate of 7.5 percent. An account can be initiated with a minimum investment of Rs 1,000, and there is no upper limit on the amount that can be invested. Under the KVP, the invested capital is expected to double over a period of 115 months, which equates to approximately 9 years and 7 months.
Post Office Time Deposit
Indian Post Office, operating under the central government, offers a Time Deposit (TD) scheme similar to bank fixed deposits. This scheme allows for deposits ranging from 1 year to 5 years, with interest rates varying between 6.9 percent and 7.5 percent.
Public Provident Fund
The Public Provident Fund (PPF) is another government investment initiative, currently offering an interest rate of 7.1 percent. Investors can deposit a minimum of Rs 500 and a maximum of Rs 1,50,000 within a financial year. The PPF matures after 15 years, with the option to extend the term by 5 years at a time, up to a maximum of 50 years.
Sukanya Samriddhi Yojana
The Sukanya Samriddhi Yojana is designed for daughters under the age of 10 and currently offers an interest rate of 8.2 percent. In this scheme, a minimum deposit of Rs 250 and a maximum of Rs 1,50,000 can be made each financial year. The scheme matures after 21 years, and if the daughter reaches the age of 18 and marriage is planned, the account may be closed at that time.
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