The Government's big decision on small savings schemes. | The women will make big earnings through this small saving scheme.

The Government's big decision on small savings schemes.

There is great news for investors. On the last day of the financial year 2022-23, the government has given a big gift to the common people. In the era of high inflation, now common people will get more interest in small savings schemes. The government has increased the interest on all small savings schemes. 

However, it does not include Post Office, Fixed Deposit, and Public Provident Fund i.e. PPF. The government has announced increased rates on these schemes for the quarter of April to June 2023. Here we tell you how much interest rate has been increased on which scheme. Till now 7% interest rate was being received on National Savings Certificate i.e. NSC. 

Now the government has increased the NSC interest rate to 7.7% from April 1 to June 30, 2023. There has been an increase of 0.70% in this. Interest rates on all post office deposits with a maturity of one, two, three, and five years were increased from 0.10% to 0.50%. The biggest increase has been in the five-year post office term deposit, which has been increased from 7% to 7.5%. 

The interest rate has increased from 7.6% earlier to 8% in Sukanya Samriddhi Yojana too. Talking about Senior Citizen Savings Scheme, earlier it was getting 8% interest, but now it has been increased to 8.2%. Interest rates have been increased by 0.30% in the Monthly Income Scheme ie MIS. 

It was getting 7.1% interest from January to March, but for the April to June quarter, its interest rate has been increased to 7.4%. However, the interest rate on PPF has been kept at 7.1% and the interest rate on post office savings deposits will also remain at 4%. Small savings schemes are very popular among common people. 

There is the safety of money in them and the returns are also decent. That's why people invest money in these schemes on a large scale. Since these schemes are run by the Central Government, there is no risk of money sinking in them. However, many people now invest money in debt funds as well. Debt funds are such mutual funds in which money is invested in fixed-income instruments. 

These include instruments like bonds and corporate papers, and these are also considered safe. However, the safety of money in these is not as much as that found in small savings schemes. So the point comes to whether you should invest in debt funds or small savings schemes. For this, let us know how debt funds have given returns in the past. 

If you had invested ₹ 10,000 five years ago in Aditya Birla Sun life Medium Term Direct Plan-Growth, your money would have grown to ₹ 15061 today. In five years, this fund gave an 8.54% annual return. The returns of this fund are higher as compared to small savings schemes. Now we talk about UTI Bond Fund growth.₹10,000 invested in this fund five years ago would be ₹12,225 today. 

During this, a 4.10% annual return has been given. It also sits low compared to small saving schemes. ₹10,000 invested five years back today in ICICI Prudential Short Term fund would have turned into ₹14480. It has given 7.68% returns during this period. ₹ 10,000 invested five years ago in Nippon Income Fund is ₹ 14,496 today; this fund has given a 7.71% return. 

From this point of view, the returns of most debt funds sit in the vicinity of small savings schemes. Overall, the government has given a big relief to the common people by increasing the interest rates in small savings schemes. Especially at a time when the markets are going through a period of ups and downs. The increase in interest rates on these schemes will encourage people to invest in these schemes on a large scale. 

 

The women will make big earnings through this small saving scheme:

Financial Year 2023-24 has started. Investments to save tax, From ITR filing to all the work related to money, the financial year is very important. The budget of the Central Government coming in February becomes applicable from 1st April. The announcements made in it also come into force. 

Talking about the investment, the government has made a big announcement for women in this year's budget. The government has launched a new investment scheme for women, and it started on 1st April 2023. The name of this scheme is Mahila Samman Savings Certificate. This is a small savings scheme which is only for women. 

We will give you complete information about this scheme. The account opened under this scheme will be a single-holder type account. It can be opened in any post office or any authorized bank. Any woman can open this account for herself. As a guardian, you can also open this account for a minor child. Women have to fill out Form One for this. 

Let us know, what the minimum amount for the account can be opened. You need to deposit a minimum of ₹1,000 in it. You can increase the amount in multiples of ₹100. You cannot deposit money into this account later. The maximum you can deposit ₹ 2 lakhs in it. The government has announced an interest rate of 7.5% for this scheme. 

Interest will be compounded every quarter and will be credited to the account. The important thing about this scheme is that it matures in two years. That is, you are given a good interest rate in this short-term scheme. This account cannot be prematurely withdrawn except in a few cases.

However, after one year of account opening, you can withdraw a maximum of 40% of this money. The government is encouraging women for saving through Mahila Samman Saving Certificate. Also, since the tenure of this scheme is only two years, you do not have to face long-term lock-in period. 

Especially women in low-income families can take advantage of the high-interest rate by investing money in this scheme. How did you like the information? Please do Comment on our site www.tradeipohub.co.in. And also comment, if you have any questions in your mind.