Top 10 Small Savings Schemes for Retail Investors
by priyanka roshan | june 26, 2024
This long-term investment scheme offers attractive tax benefits under Section 80C of the Income Tax Act, with a fixed annual compounded interest rate and extendable 15-year maturity in blocks of 5 years.
It aims to ensure financial security for the girl child, offering parents or guardians a dedicated savings avenue for her education and marriage expenses.
It is a secure investment option backed by the governemnt, offering fixed income through predetermined interest rate, maturity period of 5 to 10 years and tx benefits under Section 80C.
POMIS offers a fixed monthly interest rate aimed at investors seeking regular income, with a 5-year maturity period ideal for steady income streams.
SCSS caters to seniors aged 60 and above with higher interest rates, quarterly payouts, and a 5-year maturity extendable by 3 years.
KVP doubles the invested amount over about 10 years, ideal for medium-term savings with guaranteed returns upon maturity, popular among risk-averse investors.
It is a post office fixed deposit with flexible tenures from 1 to 5 years, offering a fixed interest rate for capital protection and predictable returns.
It offers steady post-retirement income with fixed monthly pension payouts based on contributions and entry age, ensuring financial security for unorganized sector workers in old age.
It is a pension scheme exclusively for senior citizens, offering guaranteed pension payouts at a specified interest rate.
This is a basic savings account provided by the post office, offering easy accessibility and liquidity, and nominal interest rates compared to other schemes.