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Saving Schemes
( Contribute to achieve financial goals)

Atal Pension Yojana

It is a government-backed pension scheme.

Public Provident Fund

It is a long-term investment by individuals to earn stable returns.

Employee Provident Fund

It is a benefit payable to employees working in India.

Kisan Vikas Patra

It is a saving certificate scheme to get assured investment.

National Savings Certificate

It is a fixed-income investment scheme

Pradhan Mantri Jan Dhan Yojana

It aims to expand affordable access to financial services.

Pradhan Mantri Suraksha Bima Yojana

It is a government-backed accident insurance scheme.

Pradhan Mantri Vaya Vandana Yojana

This scheme provides an assured pension payable monthly.

Post Office Monthly Income Scheme

It is the highest-interest rate on investment, disbursed monthly.

Equity Linked Saving Scheme

It offers high returns and gives tax benefits.

Senior Citizens Savings Scheme

It gives a higher rate of interest payable on a quarterly basis.

Stand Up India Scheme

It facilitates bank loans to set up an enterprise for weaker sections.

Tax Saving FDs

It gives high-interest rates on deposits and tax exemption.

Voluntary Provident Fund

It is an employee’s voluntary contributions fund.

Saving Schemes List: Types, Interest Rates & Tenures

  • The government and other public sector financial institutions in India are offering many investment options for the people.
  • Those who are interested in saving schemes can make use of these investment options to multiply their savings and get an extra bonus or interest.
  • Nowadays, most Indians have habits of saving their money and investing it in the right sector to cultivate or increase. In the olden days, many Indians kept their earnings with themselves without investing in financial institutions.
  • This attitude causes low circulation in the market and also stagnation of wealth. The government has introduced some saving schemes which help the people to appreciate at higher interest rates and get benefits such as tax exemption and other offers.
  • Many people save their money to plan for their future life achievements such as retirement, marriage, children’s higher education, buying land or a home, etc.
  • Instead of keeping their savings with themselves at home, they prefer to invest them in a safer institution that gives a higher rate of interest and offers good returns keeping up the rising costs of living and inflation.
  • These institutions are not involved in the share market schemes, so it is considered safer investment options. The interest rates on these various saving schemes offered by the government differ according to the schemes. The interest is also offered on quarterly, half-yearly, and annual basis desired by the investor.
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Frequently Asked Questions

  • What do you mean by Saving Scheme?
    An individual can attain their financial goals within a particular period through Savings schemes. These schemes give a higher rate of interest and the risk in this investment is very low.
  • How many savings schemes are available in the post office?
    There are more than 10 savings schemes available in the post office.
  • Tell me, the advantages of Saving Schemes?
    Those who start to save their money in these schemes are planning for their future and their children’s future.
  • Why are most of them investing in the Government and public sectors?
    The Government and public sectors give a lot of benefits such as higher rates of interest, tax benefits, etc.
  • Which saving scheme is better compared to other saving schemes?
    According to me, the best saving scheme introduced by the Post office is Kisan Vikas Patra which gives a higher interest rate, less risk, and tax deduction.
  • Suggest to me the saving schemes that suit girl children?
    The savings scheme that suits the girl child is Sukanya Samriddhi Yojana Account (SSY).
  • When does the rate of interest change for savings schemes?
    The rate of interest changes according to the instruction given by the RBI.
  • What are the popular savings schemes in post offices?
    The popular saving schemes in post offices are the Pradhan Mantri Jan Dhan Yojana, the Sukanya Samriddhi Yojana, Atal Pension Yojana (APY), Kisan Vikas Patra (KVP), Senior Citizens Savings Schemes, etc.