Monday, May 29, 2023

Government Savings Schemes Giving More Interest Than Fd Invest For…

Tax Saving FD Schemes : In today’s era, every person wants to invest his hard-earned money in the right place. You are very scared about your money, lest your money may sink. That’s why you invest your money in FD. This is because here your money is safe and the returns are also good.

Will get good fund in long run

You have to spend a long time to invest money on FD. You get a good fund. On the other hand, banks have also increased the interest rates on FDs, due to which investments are being made better. In this news, you will get information about the interest received from FD in many government savings schemes. Which can prove to be of your use. PPF, Senior Citizen Saving Scheme, National Saving Scheme and Sukanya Samriddhi Yojana (PPF, Senior Citizen Saving Scheme, National Saving Scheme and Sukanya Samriddhi Yojana) are such schemes where you get more returns than FD of many banks. See what such plans are.

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this is government scheme

Annual interest of 6.8 percent is being given on National Savings Certificate (NSS) and 6.9 percent on Kisan Vikas Patra. At the same time, 7.1 percent interest is being available on PPF, 7.4 percent on Senior Citizen Saving Scheme and 7.6 percent in Sukanya Samriddhi Yojana. With Monthly Income Account, you are getting an annual interest of 6.6 percent. On the other hand, the government reviews these interest rates once every 3 months and there was no change in them in the June quarter.

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interest rates in public sector banks

Punjab National Bank (PNB) is giving a maximum interest of 6.10 percent to the common citizen on FD. Whereas for senior citizens it is maximum 6.25 percent. The same SBI Bank is giving a maximum interest of 5.65 percent to the common citizen. Senior citizens are getting interest of 6.45 percent.

See interest rate in private banks

Talking about private sector banks, HDFC Bank is giving you 6.10 percent interest on FD. Senior citizens are getting maximum interest of 6.60 percent from the bank. At the same time, ICICI Bank is giving a maximum interest of 6.10 percent to common citizens and 6.60 percent to senior citizens.

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This is tax exemption

You also get tax exemption on investment in government small savings schemes. If you invest in Sukanya Samriddhi Scheme, then you can get the benefit of tax exemption on investment up to Rs 1.5 lakh.

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