Today’s women are strengthening not only their own financial security but also that of their families by becoming financially independent. To maximize their hard-earned savings and secure their future, women are turning to various government and non-government savings schemes. The central government has created several excellent schemes specifically for women, offering excellent interest rates and tax benefits.
From the Sukanya Samriddhi Yojana to the Mahila Samman Savings Certificate, these schemes provide secure investments and serve as a foundation for women’s empowerment. Let’s explore five of the best investment schemes available for women.
Sukanya Samriddhi Yojana
The Sukanya Samriddhi Yojana was specifically launched to secure the education, marriage, and future of daughters. Under this scheme, an account can be opened in the name of a girl child under the age of 10. This scheme offers women an attractive interest rate of 8.2% per annum. Investors also receive tax benefits under Section 80C, making it a highly reliable option for long-term investment.
Post Office Mahila Samman Savings Certificate
The Post Office Mahila Samman Savings Certificate scheme was launched in 2023. This scheme is becoming increasingly popular among women for short-term investments. Investments under this scheme range from a minimum of ₹1,000 to a maximum of ₹2 lakh. This scheme offers superior returns for a period of just two years, significantly higher than regular savings accounts. This helps women achieve their financial goals faster.
Bank FDs and SCSS for Senior Women
Fixed deposits (FDs) and the Senior Citizens Savings Scheme (SCSS) are excellent options for senior citizens, i.e., women over 60 years of age. Bank FDs offer interest rates up to 0.50 percent higher than prevailing rates. The Senior Citizens Savings Scheme (SCSS) also offers high interest rates, making it a safe and profitable investment instrument over the long term. These schemes also provide a source of regular income for senior women.
Kisan Vikas Patra (KVP) and National Savings Certificate (NSC)
Both the Kisan Vikas Patra (KVP) and National Savings Certificate (NSC) are safe and government-backed savings schemes offered by the post office. The KVP offers an interest rate of 7.5% per annum and is a safe and easy investment instrument. This scheme aims to double your money over a fixed period. The NSC offers a stable interest rate for a period of five to ten years and is tax-free under Section 80C, making it another preferred option for women for long-term investments.