Savings schemes for women and how to invest in them:Build wealth with small savings schemes – know eligibility, and interest rates

Today, women are fulfilling responsibilities on every front, from home to office. Despite this, many women lack financial independence. Therefore, every woman wants to have a financial plan that not only meets her needs but also secures her future. In such a situation, if they have information about some savings schemes that offer secure returns, they can become self-reliant. Many government and bank saving schemes offer better returns on small investments. Some of these schemes are specifically designed for women. Today, in the ‘Your Money’ column, we will learn about 4 such saving schemes. We will also know that- Question- What are the best government savings schemes for women? Answer- The Government of India has launched several investment schemes for the common person. Among these, schemes like Sukanya Samriddhi have been specifically launched for women.
These schemes are excellent options for safe, stable, and profitable investments. Most of these are common schemes that offer good returns and secure investments. See in the graphic-
Let’s understand all these schemes in detail- Sukanya Samriddhi Yojana This government scheme has been launched to secure the education and future of daughters. In this, parents or guardians can open an account in the name of a girl child under 10 years of age. Benefits National Saving Certificate This is a fixed-term deposit scheme of the Post Office, where a maturity period of 5 to 10 years can be chosen. Benefits Post Office Fixed Deposit Scheme In this Post Office scheme, interest can be earned by depositing a fixed amount for a specified period. Its tenure ranges from 1 year to 5 years. Benefits
Kisan Vikas Patra This is a government savings scheme, whose objective was to encourage farmers to save. The government has further expanded this scheme, and now all citizens can invest in it. In this, a large fund can be created by investing for the long term instead of the short term. Benefits Question – Some other investment schemes where women should invest? Answer- In addition to the schemes mentioned above, there are also some government and non-government schemes where women can invest to secure their future and that of their families. 1. Unit Linked Insurance Plan (ULIP) ULIP is a plan that offers both insurance coverage and investment facilities. In this, women can choose equity or debt funds according to their risk tolerance (capacity to take risk). It also provides the option to switch funds from time to time. In the long term, this plan helps in wealth creation and can prove to be an effective financial tool for major goals like children’s education or retirement. In the long term, ULIP can provide an annual return of 8% to 12%. 2. Capital Guarantee Plan This plan is suitable for women who want to keep their savings safe while avoiding risk. It offers a full guarantee of the invested principal at maturity and a fixed return. Therefore, this plan is considered a stable and reliable investment option for short to medium-term financial needs. Capital Guarantee Plans typically offer an annual return of 6% to 8%. 3. Pension Schemes Pension plans provide women with the security of regular income after retirement. Disciplined investment over a long period (continuous investment without gaps) builds a strong corpus (large fund), which provides assured monthly pension after retirement. This scheme is especially important for women who want to be financially independent in the future. They typically offer an annual return of 6% to 8%. 4. National Pension Scheme (NPS) NPS is a government retirement plan, considered a reliable option for long-term investment. It offers a balanced investment option in equity, debt, and government bonds. It also provides tax exemption. The current interest rate on the National Pension Scheme is 6.95% per annum. 5. Public Provident Fund (PPF) PPF is a safe and tax-free long-term saving scheme that encourages women to save regularly. It has a lock-in period of 15 years, which helps in disciplined investment. The interest earned and the maturity amount are completely tax-free, making it a very effective investment option. Public Provident Fund currently offers an interest rate of 7.1% per annum.