Thread by @Finology_Quest

Top 6 Best Government Savings Schemes ⤵️

• Sukanya Samriddhi Yojana
• National Pension Scheme
• Public Provident Fund
• National Savings Certificate
• Atal Pension Yojana
• Pradhan Mantri Jan Dhan Yojana

-- A thread 🧵 --
#Invest

▣ SSY

The scheme has been launched to offer a means of saving to the girl child in every family 👨‍👩‍👧

--> Int rate - 7.60% p.a.
--> Maturity Period - 21 years
--> Investment Amt - Min Rs.250, Max Rs.1.5 lakh
--> Tax benefits - Up to Rs. 1.5 lakh

▣ NPS

Retirement saving scheme open to all Indians, but mandatory for all the govt employees. Indian citizens & NRIs in the age grp of 18-60 can subscribe to this 👴

--> Int rate - 8% to 9% p.a.
--> Investment Amt - Rs. 1000 Min
--> Tax exemptions - Up to Rs.2 lakh

▣ PPF

It’s a savings-cum-tax savings investment vehicle that enables one to build a retirement corpus while saving on annual taxes 🤑

--> Int rate - 7.1% p.a.
--> Investment Amt - Rs. 500 Min
--> Tax Benefit - Up to Rs.1.5 lakh

▣ NSC

It’s a savings bond that encourages subscribers – mainly small to mid-income investors – to invest while saving on income tax 💰

--> Int rate - 6.8% p.a.
--> Minimum Investment - Rs.1,000
--> Tax Benefit - Up to Rs.1.5 lakh

▣ APY

Social security scheme for workers in the unorganised sector. Pension scheme that focuses on helping the working poor have a steady income after retirement🧓

--> Pension Amount - Up to Rs.5,000
--> Contribution Period - Minimum 20 years
--> Exit Age - 60 years

▣ PMJDY

Launched to provide easy access to basic banking facilities to poor & needy section of society 🧑‍🦯

--> Int rate - Saving's a/c int rate
--> Mini Bal - 0 bal
--> Accidental Insurance Cover - Rupay Scheme, Rs. 1
lakh. A/c opened after 28 August 2018, Rs.2 lakh.

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