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SSY, MSSC to KVP: 6 government schemes that offer interest rates similar to FDs
Check out the complete list of government schemes that offer interest rates similar to FDs.
Updated : May 11, 2023, 08:56 AM IST | Edited by : Raunak Jain
 "Government Schemes, investment tips, Government Investment Schemes, National Saving Certificate, sukanya samriddhi yojana")
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Government Schemes: In the contemporary era, individuals have an array of investment options at their disposal. Despite this, a significant proportion of the population in the country place their trust solely in government schemes.
With the widespread proliferation of financial information via social media, the government continues to launch a plethora of schemes catering to every class and age group within the country. The focus of this discourse is to furnish information regarding several types of government-supported schemes that offer an interest rate of more than 8 percent for investing.
One such scheme is the National Saving Certificate that offers a 7.7 percent interest rate to customers who can invest any amount ranging from Rs 1,000 to a multiple of 100 in the scheme, for a total of 5 years.
Another scheme is the Sukanya Samriddhi Yojana, which proffers an 8 percent interest rate on deposits. Interested individuals can open an account for a girl child below the age of 10 years, with a minimum investment of Rs 250, up to a maximum of Rs 1.5 lakh.
Additionally, investing in the monthly income scheme of the post office can provide individuals with a 7.4 percent interest rate. A single account can accommodate investments of up to Rs 9 lakh, while a joint account can hold up to Rs 15 lakh, for a total of 5 years.
Furthermore, the government has launched a new scheme, the Mahila Samman Savings Certificate, which offers an interest rate of up to 7.5 percent, specifically designed for women.
For those interested in the Kisan Vikas Patra, another post office scheme, a return of up to 7.5 percent can be procured. The amount invested in this scheme doubles in 115 days.
Finally, senior citizens can benefit from a substantial interest rate of up to 8.2 percent on investing in the Senior Citizen Savings Scheme, with a maximum investment limit of Rs 30 lakh.
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