Meanwhile, the Indian government has taken several steps for women empowerment. Several savings schemes have been launched to help women achieve economic independence and improve their standard of living.
Where women will get financial benefits by investing only some money. The Post Office has extended its helping hand in holding these savings schemes.
Mahila Samman Savings Certificate: Keeping in mind the advancement of women, the Mahila Samman Savings Certificate is a one-time small savings program that came up in the budget this year. It will be accessible till March 2025.
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National Savings Scheme: National Savings Scheme is one of the best investment avenues of Post Office. The maximum amount you can deposit in this scheme from Rs 1,000 will earn 6.8% interest. The duration of this scheme is at least five years. This scheme provides tax exemption of Rs 1.5 lakh as per 80C.
Sukanya Samriddhi Yojana: Sukanya Samriddhi Yojana is a scheme to secure the future of minor girls below the age of 10 years. In this scheme money is to be kept till the age of 21 years of the girl or till her marriage after the age of 18 years.
Two and a half hundred rupees have to be deposited every year in this scheme for 15 years. At the end of the term, the return is matched with 8% interest.
Time Deposit Scheme: A savings scheme popular in urban and rural areas is the time deposit scheme. The duration of this scheme is 5 years. Starting from Rs 1,000 and up to the maximum amount you can keep, the interest on this amount will be 7.5 percent. If you want to keep money for more than 5 years, you can extend the term of this scheme.
Public Private Funds: Public Private Funds are one of the ways to invest women’s savings in India. In this scheme you can invest from only 500 to 1.5 lakh rupees for 15 years.
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This money will get interest of 7.10 percent. After keeping money for six consecutive years, you can withdraw that money if you want. Investments in this scheme are tax exempted under Section 80C of Rs.1.5 target.
