FD Tips: Higher returns than FD, no risk of money sinking, these government schemes will fill your pocket..

After the Reserve Bank of India cut the rate of interest, on the one hand, home loan borrowers have got relief, while on the other hand, the interest on bank FD has come down. Almost all banks, including the State Bank of India and HDFC Bank, have reduced the interest rates of FDs. But you can still get great returns by investing money in many small savings schemes. These schemes are getting interest ranging from 7.5 percent per annum to 8.2 percent.

Investors are currently getting 8.2 percent interest in the Sukanya Samriddhi Yojana. In this scheme, you can open an account in the name of your daughter. In this scheme, deposits ranging from Rs 250 to Rs 1.50 lakh can be made annually. It can be opened in the name of a girl child below 10 years of age by her parents or a legal guardian.

National Savings Certificate

Money invested in National Savings Certificate (NSC) is getting a 7.7 percent return. The lock-in period of this scheme is five years. Tax exemption is available under Section 80C of the Income Tax Act on Rs 1.5 lakh invested in NSE in a year. Yes, it must be known that you will have to pay income tax on the interest income of NSE.

Post Office Monthly Income Scheme

Investors are getting a 7.4 percent return on the money invested in the Post Office Monthly Income Scheme. The maturity period of this scheme is five years. The minimum deposit in the Post Office Monthly Income Scheme is Rs 1,000. Investment can be made in multiples of Rs 1000. The maximum deposit limit for a single account is Rs 9 lakh. The maximum deposit limit for a joint account is Rs 15 lakh.

Kisan Vikas Patra

Kisan Vikas Patra is a lump sum deposit scheme. Currently, this scheme is giving 7.5% interest. Risk-averse investors invest a lot of money in small savings schemes and bank FDs. Bank FDs are the favorite investment option of Indians. A lot of money is invested in fixed deposits because of the negligible risk of losing money and guaranteed returns. In the Kisan Vikas Patra scheme, you can invest a minimum of Rs 1000 and in multiples of 100. There is no limit on maximum investment.

Senior Citizen Saving Scheme
If you want to invest your retirement fund in a place where you get a huge interest, then there is nothing better for you than the Senior Citizen Saving Scheme (SCSS). Only persons above 60 years of age can invest in this scheme, and currently, 8.2% interest is being given in it. Up to Rs 30 lakh can be invested in the Senior Citizen Saving Scheme.

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