Tuesday, April 16, 2024

These 5 government schemes are giving returns of more than 8%

March is almost over, and everyone is preparing to save money on taxes. If you’re also seeking a plan that will yield a return of more than 8% in addition to tax savings. We are going to tell you about five such government schemes today that will allow you to save taxes for the 2023–2024 fiscal year.

government schemes

There are five Post Office schemes

that you can invest in if you want to save taxes and make secure investments, including PPF, Time Deposit, and Sukanya Scheme. These government schemes will allow you to receive returns of up to 8.2% in addition to tax savings.

government schemes

1. Senior Citizens Savings Scheme

Investors in this program might benefit from interest rates as high as 8.2%. In this instance, you can invest a maximum of up to Rs 30 lakh. You can open an account after 60 years of age or more.

government schemes

2. Sukanya Samriddhi Yojana

Investors profit from interest at the rate of 8.2% under this government program. You can open this account up until the child turns ten years old after it is born. You can invest a maximum of Rs 1.5 lakh in this.

government schemes

3. Public Provident Fund

PPF investors receive the benefit of interest at a 7.1% rate. The highest amount you can put in this scheme is Rs 1.5 lakh. This account can be opened for a maximum of 15 years.

government schemes

4. National Savings Certificate

The interest rate available in this program is 7.7%. Any money can be invested in NSC. The amount that can be invested in this has no upper limit.

government schemes

5. Time Deposit Scheme

Interest rates on time deposits range from 6.9 to 7.5%. Investors in these programs receive the benefit of tax exemption under 80C. There is no limit on maximum investment in this government scheme.

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