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Keep Your Savings Safe

Author: Sanchita Sairang-Kshatriya

2020-03-18 19:43

If you are the kind of investor who is looking for stable and safe investment options then there are various schemes launched by the Government of India that are secure and suitable for risk-averse investors. All these schemes are known for their long-term benefits, attractive interest rates, stable income, tax efficiency, and retirement planning. 

Mentioned below are the top 10 government schemes best suited for Indian citizens that help to keep their savings completely safe. 






Pradhan Mantri Vaya Vandana Yojana (PMVVY)

8 percent

10 years


National Savings Certificate

8 percent

5 or 10 years


Public Provident Fund

7.9  percent

Min 15 years


Voluntary Provident Fund

8.65 percent

Min 5 years


National Pension Scheme

Depends on the performance of investment

Matures at the age of 60


Atal Pension Yojana

8 percent

Depends on age


Sukanya Samriddhi Yojana

8.5 percent

21 years or marriage of a girl


Senior Citizens Savings Scheme

8.7 percent

Five years


Kisan Vikas Patra

7.6 percent

118 months


Pradhan Mantri Jan Dhan Yojana (PMJDY)

4 percent

Matures at the age of 60

Pradhan Mantri Vaya Vandana Yojana (PMVVY)

The Pradhan Mantri Vaya Vandana Yojana is a pension scheme for senior citizens managed and implemented through Life Insurance Corporation (LIC) of India. PMVVY is suited for retired Individuals who are at least 60 years of age or above and need a regular income on their investment.

The scheme provides senior citizens with a guaranteed return of 8% for 10 years. However, the subscriber has the option for a pension on a monthly/quarterly/half-yearly or annual income. 

The amount of investment made in the scheme is called the 'purchase price'. Subject to the pension option a fixed and assured pension begins as arrears, i.e., starts from the end of the chosen period.

The minimum purchase price for receiving pension every month is Rs 1.5 lakh, which gives a pension of Rs 1,000 per month. The maximum purchase price for monthly pension is Rs 15 lakh, which gives Rs 10,000 per month. Taxes like GST or Service Tax are exempted from PMVVY.

The scheme can be purchased online on the LIC website, while it is also available offline at all LIC branches. 

National Savings Certificate (NSC)

The National Savings Certificate is a fixed income investment scheme that can be purchased from any post office. It's a Government of India backed investment, which is a savings bond that encourages mainly small to mid-income investors to invest while ...

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