Savings scheme

FD Post Interest Rate Savings Plan Highlights

A national term deposit account can be opened with a minimum of Rs 1000. Postal Savings Plan. The post office offers popular formulas. One of them is the National Savings Time Deposit Account (TD). It is like the traditional fixed deposit (FD). Investors have the option of opening one-year, two-year, three-year and five-year accounts. INVESTMENT […]

Savings scheme

Invest in these programs to get a better return than FD; Know more

Postal Savings Plan: Investing in a good savings plan has always been a priority for the middle class in India, who mainly seek to invest in a policy with a high interest rate and guaranteed returns. While fixed deposits in banks meet this need, the interest rate and tax benefits are not as high as […]

Savings scheme

Savings scheme for seniors in FD, RD: Rs 1 lakh Section 80TTB benefit – SBI Research suggests

Budget 2022 Expectations for the Elderly: SBI Research suggests tax exemption of Rs1 lakh for the elderly under Section 80TTB. Expectations of the 2022 budget for seniors: SBI Research has suggested that the government should promote savings by increasing the tax exemption for the elderly under Section 80TTB to Rs 1 lakh. Currently, under this […]

Savings scheme

Postal savings plan: convert Rs 10 lakh into Rs 14 lakh in 60 months and benefit from tax advantages under section 80C

Postal savings plan: convert Rs 10 lakh into Rs 14 lakh in 60 months and benefit from tax advantages under section 80C New Delhi: The National Savings Certificate (NSC) is one of the most popular postal savings programs that offers guaranteed returns as well as tax benefits under section 80C. Financial planners often advise risk-averse […]

Savings bank

These banks offer up to 7% interest rate. Details here

The savings account is a safe place where you can set aside a portion of your income for emergencies in the near future. An added benefit of the savings account is that we receive interest on our money. It is very beneficial for people who work with regular monthly income. At any time, money can […]

Savings scheme

Interest rate on small savings plans higher than PPF, NSC, according to RBI

NEW DELHI: By keeping small savings rates stable for six quarters, the government pays between 47 and 178 basis points (100 basis points equals one percentage point) higher than the parking funds in the public provident fund , the national savings certificate or office term deposits, the Reserve Bank of India (RBI) announced on Monday. […]

Savings scheme

LIC Pradhan Mantri Vaya Vandana Yojana vs. Seniors Savings Plan: COMPARISON – Know the Interest Rate, Benefits, Tenure and More

Most of the time, seniors place their retirement savings in risk-free areas. They don’t want to risk their savings in uncharted territory. For a safe bet, they deposit their money in the mail, government-related programs, or opt for term deposit programs to earn regular income after retirement. LIC Pradhan Mantri Vaya Vandana Yojana (PMVVY) and […]

Savings scheme

Seniors Savings Plan | Five investment plans for seniors with regular income

Five investment plans for seniors with regular income | Photo credit: BCCL New Delhi: Due to the onslaught of the Covid-19 pandemic, central banks around the world have been pushing to cut interest rates to avoid liquidity pressures. While lower interest rates can be a tonic for a struggling economy, they can negatively impact seniors […]

Savings scheme

Savings scheme for seniors I Options for seniors as FDs lose their luster with negative real interest rate

Options for Seniors as FD Loses its Luster with Negative Real Interest Rate | Photo credit: Thinkstock In an age when interest rates on fixed income assets are at historically low levels, investors, especially those who depend on interest income, are being left behind. On top of that, rising inflation levels reduce the meager returns […]

Savings scheme

Equity Linked Savings Plan (ELSS): Section 80C allows deduction of Rs 1.5 lakh for investments in ELSS: here’s how

Equity savings plan: ELSS mutual funds have a three-year blocking period A stock linked savings plan or ELSS is one of the most popular categories of mutual funds that offer tax benefits. Under the provisions of section 80C of the Income Tax Act 1961, a person can claim tax deductions of up to Rs 1.5 […]

Savings scheme

Tax savings for seniors | Savings Plan for Seniors vs PMVVY: Knowing the Best Investment Option for You

Savings Plan for Seniors vs PMVVY: Knowing the Best Investment Option for You New Delhi: Seniors have become the biggest victim of this drop in repo rates as FD bank rates have fallen. As seniors mainly depend on their own income, their income has dropped by up to 30% over the past year, making it […]

Savings scheme

Share-linked savings plan: why ELSS is the best investment option to save tax

Of all the section 80C options, ELSS comes with the lowest lockout period of just 3 years. Most taxpayers are considering various tax-saving investment options as they approach the last quarter of the fiscal year. However, with limited financial literacy and several options available under section 80C, investors often end up investing in suboptimal tax […]

Savings scheme

FD vs SCS scheme | Special SBI FD vs Senior Savings Plan: which one to choose?

SBI special FD vs Senior Citizen Savings Scheme: which one to choose New Delhi: Planning for retirement is one of the key financial steps everyone should take to ensure they are financially stable after retirement. You need to save and invest enough to ensure that your retirement corpus is large enough that you can maintain […]

Savings scheme

Business News | Stock Market News and Shares | Financial news

Search for quotes, news, net asset values ​​of mutual funds IRCTC INE335Y01020, IRCTC, 542830 Tata power INE245A01021, TATAPOWER, 500400 SBI INE062A01020, SBIN, 500112 ICICI Bank INE090A01021, ICICI BANK, 532174 Addiction INE002A01018, RELANCE, 500325 Search for quotes, news, net asset values ​​of mutual funds IRCTC INE335Y01020, IRCTC, 542830 Tata power INE245A01021, TATAPOWER, 500400 SBI INE062A01020, SBIN, […]

Savings scheme

How to open a Seniors Savings Account

The Seniors Savings Plan (SCSS) is a government-backed plan that offers seniors a great way to invest a portion of their retirement corpus and earn quarterly interest. Security of capital and assured periodic returns play a key role in choosing an investment program, especially in the case of the elderly. This scheme, which offers guaranteed […]

Savings scheme

Seniors Savings Plan 2020: all you need to know

To get the best return while building wealth, you need to combine both high risk and high return funds as well as low risk and fixed return investment options. People over the age of 60 and looking for places to keep their savings safe after retirement while earning a moderate rate of return, typically land […]

Savings scheme

How to open a Seniors Savings account: all you need to know

The senior savings plan was set up in 2004 with the aim of offering seniors a stable and secure source of income for their post-retirement. How to open a Seniors Savings account The Seniors Savings Plan (SCSS) is a government-funded savings plan for people over 60. The SCSS is a government-backed plan. Payment to the […]

Savings scheme

Interest rate of the savings plan for the elderly, account of the Public Provident Fund (PPF)

Postal savings: The Caisse d’Epargne Senior (SCSS) account has a maturity of 5 years. In the provisional budget for 2019-2020, the government proposed to raise the threshold for withholding tax (TDS) on interest received on bank and postal deposits from Rs 10,000 to Rs 40,000. With this announcement , depositors are likely to save more […]