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  • atal pension yojana thumbnail

    Atal Pension Yojana

    Atal Pension Yojana is based on National Pension Scheme.

    • APY aims at providing a steady stream of income after the age of 60 to all citizens of India.
    • Permanent Retirement Account Number (PRAN) will be provided to the subscriber immediately by the branch.
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    E-Kisan Vikas Patra Scheme, 2014

    Kisan Vikas Patra is a small savings instrument that will facilitate people to invest in a long term savings plan.

    • Low-risk and also guarantees assured returns.
    • Rate of Interest: 7.5%
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    Floating Rate Savings Bonds

    The government has announced the launch of Floating Rate Savings Bonds, 2020 (Taxable). 93 authorized branches of Bank of Baroda have subscription of this scheme.

    • No maximum limit for investment in the bonds.
    • The interest rate of the bond, would be reset half yearly (in sync with the coupon payment date) @ 35 bps over the respective NSC rate.
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    Gold Monetization Scheme

    Gold is mobilized from households and institutions of the country to facilitate its use for productive purposes, and in the long run, to reduce country’s reliance on the import of gold.

    • 102 Bank of Baroda branches are authorized to accept gold deposit.
    • Rate of interest depends on type of deposit.
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    Senior Citizen Savings Scheme

    The SCSS account is a robust and safe account designed especially for seniors to earn long term savings in their old age.

    • Retired individuals above age of 60 years; or above 55 years of age retired under voluntary or special voluntary scheme or 50 years for the retired personnel of defence services (excluding civil defence employees).
    • Depositors are allowed to open multiple account under this scheme with combined maximum limit of Rs. 30 lakhs in all accounts.
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    Sovereign Gold Bonds

    A sovereign gold bond is a government security that is denominated in gold grams. Investors invest in these bonds when the scheme opens and it is redeemed on maturity.

    • It is a substitute for physical gold.
    • Interest of 2.5% paid half yearly for tenure of 8 years.
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    Public Provident Fund

    Public Provident Fund (PPF) is an ideal investment option for individuals seeking a secure, low-risk, long-term savings instrument with guaranteed returns.

    • Rate of Interest : 7.1%
    • Tax Rebate under Section 80C
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    Sukanya Samriddhi Yojana

    Sukanya Samriddhi Yojana scheme was launched on 02/12/2014 as part of the Beti Bachao Beti Padhao campaign.

    • Account holders can earn 8.2% interest on their deposits.
    • The depositor must make a deposit of minimum Rs. 250 up to Rs. 1, 50,000 every year until 15 years from the date of account opening.
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    National Pension Scheme

    The National Pension System, commonly referred to as NPS, is a voluntary, contribution retirement savings scheme and that has been designed to enable systematic savings during the subscriber's working life. Under the NPS, each subscriber opens an account with the Central Recordkeeping Agency (CRA), which is identified through a unique Permanent Retirement Account Number (PRAN).

    • NPS is shaped to enable a systematic savings during the subscribers working life.
    • Open an NPS scheme today and be independent.
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    MAHILA SAMMAN SAVINGS CERTIFICATE (MSSC), 2023

    The Mahila Samman Savings Certificate (MSSC) 2023 Scheme, a new Government Scheme for women.

    • The Union Finance Minister, Smt. Nirmala Sitharaman announced the Mahila Samman Savings Certificate, a small savings scheme for women and girls, in the Union Budget 2023-24.
    • MSSC is 2-year deposit scheme, which offers an interest rate of 7.5% per annum. The scheme is valid for a two-year period up to March 31, 2025.

Frequently Asked Questions (FAQs)

  • What is Government deposit scheme?

    Government deposit schemes are a collection of savings instruments managed by the central government with the goal of encouraging citizens to save on a regular basis. They are launched with the intention of improving people's livelihoods and providing security for a better life. Each scheme is designed to benefit the individual in specific areas of their life. Some schemes provide financial security, while others focus on socioeconomic measures.

  • Which government scheme has highest interest rate?

    The highest interest rate in government investment scheme is at present i.e., in Q2 OF fy 2023-24
    Sukanya Samridhi Yojana (SSY) - ROI 8.0%
    Senior Citizen Savings Scheme (SCSS) - 8.2%;
    E-KVP - 7.5% ; PPF - 7.1%

  • Which is the best deposit scheme?

    Because most government savings schemes are launched by the government, the risks of investing in them are very low. Contributions to savings schemes are safe and secure, in addition to providing good returns. The government sets the interest rates on savings schemes, which change every three months to a year. So, depending on the need and return as per customer demand, all schemes are good.

  • Why is it important to invest in government deposit schemes?

    It is critical to invest in government deposit schemes for a steady income and a tax break.

  • How do I invest in government deposit schemes?

    Investing in government deposit schemes is possible through branches, digital platforms and bank websites.

  • Which government deposit scheme gives highest return?

    SSY (Sukanya Samridhi Yojana - ROI 7.6%) & SCSS -7.6% gives highest return.

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