Saving Schemes

Mahila Samman Saving Certificate to be available for two years till March 2025, offers 7.5% return, with provision for partial withdrawal

The government on Friday hiked the interest rates on small deposits -- including post office term deposits, NSC and senior citizen savings scheme -- by up to 1.1 percentage points from January 1, in line with firming interest rates in the economy. However, the interest rates on Public Provident Fund (PPF) and the girl child savings scheme Sukanya Samriddhi has not been changed. National Savings Certificate (NSC) will yield a 7 per cent interest rate from January 1, compared to 6.8 per cent at present. Similarly, the senior citizen savings scheme will give 8 per cent interest against 7.6 per cent currently. Interest rates on Post office term deposit schemes of duration 1 to 5 years will rise by up to 1.1 percentage points. The monthly income scheme too will yield 7.1 per cent interest, up from 6.7 per cent.

Some see potential in the newly introduced passive option, other see promise in active ELSS

Buying in tranches will also help you deal with interest-rate risk

In 2017-18, West Bengal accounted for 15 per cent of the total contributions made to the NSSF; its share increased from 12.4 per cent in 2007-08

But be ready for lock-in till the age of 60, volatility, mandatory annuitisation

The finance ministry has been nudging public sector banks to pass the whole repo rate cuts to retail loans for pushing consumption

The savings bank rate and the debt fund rate of return are variable and market-driven

If you were mis-sold this product with the promise of regular dividend, you should exit it

It further proposed that investments up to Rs 1.5 lakh under DLSS be eligible for tax benefit, subject to a lock in period of 5 years.

For some schemes the cut may be 30-50 bps; not all will be affected

She can achieve her goals if you help her invest a few hundreds out of her monthly salary in specific insurance and investment products