Best Government Schemes: Whether people are employed or small businessmen, one thing is on everyone’s mind, saving a small portion of their income and investing it in the right way. This small savings turns into a big fund over time and comes in handy during tough times. Most people still rely on bank FDs for investment. Because bank FDs offer fixed returns.

In this article, we will share all details regarding this matter.

1. Sukanya Samriddhi Yojana

Sukanya Samriddhi Yojana is the most popular government scheme for girls. The current annual interest rate on this scheme is 8.2 percent. Parents can open an account in the name of their daughter in Sukanya Samriddhi Yojana and deposit money for 15 years. The account remains active till the age of 21 or till the marriage of the girl.

The unique feature of this scheme is that the interest earned on the deposit and the entire maturity amount are tax-free. There is no market risk in it. Therefore, it is a strong and reliable option for planning big expenses like a girl’s education or marriage. Investments can also be made in small installments, thereby benefiting middle-class families as well.

2. Kisan Vikas Patra

Kisan Vikas Patra is a post office scheme where your money automatically doubles in about 115 months or 9 years and 7 months. Currently, the annual interest rate on Kisan Vikas Patra is 7.5 percent and the returns increase. For example, if you invest Rs 10,000, your investment will reach around Rs 20,000 at the end of the tenure.

This scheme has full government guarantee. Therefore, investors do not have to worry about losing money or facing market fluctuations. Although premature withdrawal is not considered reasonable, partial withdrawal is allowed in some situations. It is a good savings option for those who want to invest safely.