INVESTMENT – Idnsek.com https://idnsek.com Indian Digital News,Service, Entertainment And Knowledge. Sun, 14 Jan 2024 19:46:08 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.2 https://idnsek.com/wp-content/uploads/2023/09/cropped-Idnsek-logo-32x32.png INVESTMENT – Idnsek.com https://idnsek.com 32 32 ​Senior citizens can get up to 8.1% interest rate on 3-year FDs; full list here https://idnsek.com/2024/01/14/senior-citizens-can-get-up-to-8-1-interest-rate-on-3-year-fds-full-list-here/?utm_source=rss&utm_medium=rss&utm_campaign=senior-citizens-can-get-up-to-8-1-interest-rate-on-3-year-fds-full-list-here https://idnsek.com/2024/01/14/senior-citizens-can-get-up-to-8-1-interest-rate-on-3-year-fds-full-list-here/#respond Sun, 14 Jan 2024 19:43:57 +0000 https://idnsek.com/?p=49764 34 Views

FD Rates : Most senior citizens consider it to be safest to invest their money in FD. There are two reasons for this, firstly the money i.e. the principal amount remains safe in it. Second, it has a fixed interest i.e. income. If you are also looking for the option of investing in three year FD, then here are the offers of some banks, which are offering maximum interest on three year FD. Here you can earn maximum interest of Rs 26,000 in three years by investing Rs 1 lakh.

Bank of Baroda

Bank of Baroda is offering interest at the rate of 7.75 percent on three-year FD. Among public sector banks, Bank of Baroda is giving the highest interest to senior citizens. The amount of Rs 1 lakh invested now will grow to Rs 1.26 lakh in three years.

Axis Bank

Axis Bank is offering interest at the rate of 7.60 percent on three-year FD to senior citizens. The amount of Rs 1 lakh invested now will grow to Rs 1.25 lakh in three years.

HDFC Bank

HDFC Bank, ICICI Bank and Punjab National Bank offer interest rates of 7.50 percent on three-year FDs. The amount of Rs 1 lakh invested now will grow to Rs 1.25 lakh in three years.

Canara Bank

Canara Bank gives 7.30 percent interest on three-year FD to senior citizens. The amount of Rs 1 lakh invested now will grow to Rs 1.24 lakh in three years.

State Bank of India (SBI)

State Bank of India (SBI) is giving 7.25 percent interest on three-year FD to senior citizens. The amount of Rs 1 lakh invested now will grow to Rs 1.24 lakh in three years.

Bank of India

Bank of India and Union Bank of India offer interest at the rate of 7 percent on three-year FD. The amount of Rs 1 lakh invested now will grow to Rs 1.23 lakh in three years.

Indian Bank

Indian Bank is giving interest at the rate of 6.75 percent on three-year FD to senior citizens. The amount of Rs 1 lakh invested now will grow to Rs 1.22 lakh in three years.

Reserve Bank of India

Deposit Insurance and Credit Guarantee Corporation (DICGC), a subsidiary of the Reserve Bank of India (RBI), provides investment guarantee on FDs up to Rs 5 lakh. In simple words, it means that your investment up to Rs 5 lakh in fixed deposit is completely safe.

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Biggest Investment Scheme: You can become owner of 5 crores in 25 years by saving 500 rupees every day. https://idnsek.com/2023/05/01/biggest-investment-scheme-you-can-become-owner-of-5-crores-in-25-years-by-saving-500-rupees-every-day/?utm_source=rss&utm_medium=rss&utm_campaign=biggest-investment-scheme-you-can-become-owner-of-5-crores-in-25-years-by-saving-500-rupees-every-day https://idnsek.com/2023/05/01/biggest-investment-scheme-you-can-become-owner-of-5-crores-in-25-years-by-saving-500-rupees-every-day/#respond Mon, 01 May 2023 18:45:00 +0000 https://idnsek.com/2023/05/01/biggest-investment-scheme-you-can-become-owner-of-5-crores-in-25-years-by-saving-500-rupees-every-day/ 31 Views

 Investment Scheme : Everyone wants to invest their money in such a place where they get more profit. But if you come to know that there is such an investment scheme in which you can get Rs 5 crore in 25 years by saving Rs 500 every day, then you would also like to invest in it. Let us know about such a beneficial scheme of investment.

Not only in the country, every person in the world not only wants to keep his money safe, but also wants to invest in a good scheme. Investment not only keeps money safe, but also earns interest. Talking about investment, it has many schemes. Everyone wants the best investment scheme, but everyone has different preferences.


Also Read: 

Some invest in property, while some invest in the share market. Some invest in Mutual Funds and some in different schemes of bank or post office. But if you come to know that there is such an investment scheme in which you can become the owner of Rs 5 crore in 25 years by saving only Rs 500 every day, then you would also like to invest in that scheme. Today we will tell you about one such investment scheme.

Save 500 rupees every day for 25 years and become owner of 5 crore rupees

To get 5 crore rupees in 25 years by saving 500 rupees, you have to invest in SIP (Systematic Investment Plan) scheme of mutual funds. In this scheme of investment, your money grows in a systematic way and also remains safe. Though mutual funds are subject to market risks, the risk can be minimized by investing in the right way and keeping track of the market.

Returns received in mutual funds in the last 5-10 years

 

market cap Returns received in 5 years Returns received in 10 years
Large cap 12.1% 11.5%
Flexi cap 13.2% 12.9%
Mid cap 16.8% 15.1%
Small cap 22.2% 17.3%


SIP Monthly Investment Amount (in Rs)

Largecap :- 30% (4,500)

Flexicap :- 20% (3,000)

Midcap :- 20% (3,000)

Smallcap :- 30% (4,500

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Post Office Super Scheme: Guaranteed will be Rs. 10 lakh. This program doubles the money in 120 months from Rs. 20 lakh. https://idnsek.com/2023/02/21/post-office-super-scheme-guaranteed-will-be-rs-10-lakh-this-program-doubles-the-money-in-120-months-from-rs-20-lakh/?utm_source=rss&utm_medium=rss&utm_campaign=post-office-super-scheme-guaranteed-will-be-rs-10-lakh-this-program-doubles-the-money-in-120-months-from-rs-20-lakh https://idnsek.com/2023/02/21/post-office-super-scheme-guaranteed-will-be-rs-10-lakh-this-program-doubles-the-money-in-120-months-from-rs-20-lakh/#respond Tue, 21 Feb 2023 18:37:00 +0000 https://idnsek.com/2023/02/21/post-office-super-scheme-guaranteed-will-be-rs-10-lakh-this-program-doubles-the-money-in-120-months-from-rs-20-lakh/ 31 Views

 Post Office Program: The Indian Postal Service provides clients with a variety of savings programs. It may be placed on a monthly or one-time basis.

Post Office Super Scheme

The best thing is that the amount saved will yield a secure and assured return. One such program is Kisan Vikas Patra, which doubles investments over a certain period of time. The interest rates offered on the program at the start of the year have also been raised by the government.

Awesome post office scheme

The investment amount in the Kisan Vikas Patra plan doubles in just 120 months, or 10 years. The annual interest rate allowed under the program has been raised to 7.2% as of January 1, 2023. The unique feature of this strategy is that investors can begin saving with just Rs. 1000 each month. Although there is no maximum amount that may be invested, it must be at least $1,000.

The money in the scheme is double

You made a lump-sum investment of Rs. 10 lakh in Kisan Vikas Patra. At a 7.2% annual interest rate, the investment capital will double to Rs 20 lakh in 120 months. When this investment of Rs 10 lakh matures, the interest received by adding Rs 10 lakh would total Rs 20 lakh.

Special feature of the scheme

In 1988, the Kisan Vikas Patra program was launched. Under section 80C on investments, a tax deduction of up to Rs 1.5 lakh is possible in this. To combat the threat of money laundering, the government made a PAN card necessary for investments exceeding Rs 50,000 in 2014. If investing 10 lakh or more, income documentation, such as an ITR, a pay stub, and a bank statement, must also be supplied. Aadhaar must also be provided in addition to this as an identification card.

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Special FD Plan: Customers can receive more than 8% interest on FDs,. https://idnsek.com/2023/02/20/special-fd-plan-customers-can-receive-more-than-8-interest-on-fds/?utm_source=rss&utm_medium=rss&utm_campaign=special-fd-plan-customers-can-receive-more-than-8-interest-on-fds https://idnsek.com/2023/02/20/special-fd-plan-customers-can-receive-more-than-8-interest-on-fds/#respond Mon, 20 Feb 2023 17:31:00 +0000 https://idnsek.com/2023/02/20/special-fd-plan-customers-can-receive-more-than-8-interest-on-fds/ 32 Views

 Interest rates on fixed deposits under Rs. 2 crore were raised at public sector lender Punjab and Sind Bank (PSB).

Special FD Plan

On deposits expiring in the next seven days to ten years, the bank is now offering interest rates of 2.80% to 6.25%. The top interest rate on fixed deposits with maturities in 601 days is 7.25% for the general public, 7.75% for seniors, and 8.10% for extremely senior individuals. All Fixed Deposits made under the Capital Gain Account Scheme of 1988, Domestic Term Deposit, NRO Account, Capital Gain Account, Recurrent Deposit Plan, and PSB Fixed Deposit Tax Saver Plan are subject to the applicable interest rate.

According to the bank’s official website, the most recent FD rates go into effect on February 21, 2023. The bank is currently offering an interest rate of 2.80% on fixed deposits that mature in 7 to 30 days, and it will soon be offering an interest rate of 3.00% on FDs that mature in 31 to 45 days. The interest rate offered by Punjab and Sind Bank (PSB) would be 4.75% for deposits made between 46 and 90 days and 5.10% for deposits made between 91 and 179 days.

When will clients receive interest that is higher than 8%?

Deposits maturing in 180 days to 364 days will now earn interest at a rate of 6.10%, while those maturing in 1 year to 2 years will now earn interest at a rate of 6.40%. The bank will pay an interest rate of 6.75% on deposits that mature in two to three years. On deposits for three to ten years, Punjab and Sind Bank (PSB) will now pay interest at a rate of 6.25%. Elderly people would receive an additional 0.50% interest on fixed deposits under Rs 2 crore.

Special FD Programs

Moreover, Punjab and Sind Bank (PSB) offers unique fixed deposit plans with terms ranging from 300 days to 1051 days. Punjab and Sind Bank (PSB) will get an interest rate of 5.25% on its 300-day fixed deposit program, while elderly citizens and very senior citizens will each receive an interest rate of 5.75% and 6.10%, respectively. Regular customers of Punjab and Sind Bank (PSB) will receive an interest rate of 7.00% on the PSB Fantastic Plus 601 Days Fixed Deposit Plan, senior citizens will receive an interest rate of 7.50%, and super senior citizens will receive an interest rate of 7.85%.
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Dividend giving stocks! PPF, EPF, FD all filling water, gave 20% return in FY23. https://idnsek.com/2023/02/18/dividend-giving-stocks-ppf-epf-fd-all-filling-water-gave-20-return-in-fy23/?utm_source=rss&utm_medium=rss&utm_campaign=dividend-giving-stocks-ppf-epf-fd-all-filling-water-gave-20-return-in-fy23 https://idnsek.com/2023/02/18/dividend-giving-stocks-ppf-epf-fd-all-filling-water-gave-20-return-in-fy23/#respond Sat, 18 Feb 2023 08:13:00 +0000 https://idnsek.com/2023/02/18/dividend-giving-stocks-ppf-epf-fd-all-filling-water-gave-20-return-in-fy23/ 28 Views

 Vedanta has paid 4 interim dividends in the current financial year and their total amount is Rs 81 per share. The annual dividend yield of the stock is 20 percent.

if the stock price increases in the stock market, money increases, but even if the stock is in loss, money is received. Now you would think how is this possible? This is possible with the dividend given by the company. In the stock market, this dividend has earned Vedanta Limited shareholders (Vedanta Share Price) bumper earnings. From April 2022 till now i.e. in FY 23, the company has given interim and final dividend to the shareholders.

As per information available with the Bombay Stock Exchange, Vedanta has paid 4 interim dividends in the current financial year, aggregating to Rs 81 per share. If we compare the dividend of Rs 81 given by the company in the financial year 2022-23, then the annual dividend yield of Vedanta is 20 percent.

Total 81 rupees paid in 4 dividends in FY23

On 6 May 2022, Vedanta announced an interim dividend of ₹ 31.50 per share. Later on 26 July 2022, Vedanta gave ₹ 19.50 to its eligible shareholders. Similarly Vedanta shares paid interim dividend for ₹17.50 and ₹12.50 per share on 29 November 2022 and 3 February 2023 respectively.

Vedanta’s share price at the beginning of April 2022 was around ₹ 405 per share. Therefore, the net dividend yield of Vedanta shares in FY23 comes to 20 percent [(₹81 / ₹405) x 100].

Comparing the 20 per cent annual dividend yield of Vedanta stock, we will find that this metal sector stock has given more than twice the returns of government schemes like Public Provident Fund, EPF only through dividends.

Investors expect a return of 12 per cent from mutual funds in a long term, but Vedanta Limited has given huge returns only by giving dividends. Let us tell you that Vedanta Limited is the largest company in the country to produce aluminum and zinc. Shares of Vedanta Limited are listed on both NSE and BSE. Vedanta’s share price on the National Stock Exchange is Rs 313.80.

fixed deposit

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FD Rate: Bumper return on FD, only 750 days will get 9% interest here. https://idnsek.com/2023/02/14/fd-rate-bumper-return-on-fd-only-750-days-will-get-9-interest-here/?utm_source=rss&utm_medium=rss&utm_campaign=fd-rate-bumper-return-on-fd-only-750-days-will-get-9-interest-here https://idnsek.com/2023/02/14/fd-rate-bumper-return-on-fd-only-750-days-will-get-9-interest-here/#respond Tue, 14 Feb 2023 12:52:00 +0000 https://idnsek.com/2023/02/14/fd-rate-bumper-return-on-fd-only-750-days-will-get-9-interest-here/ 20 Views

 The repo rate was again raised by the Reserve Bank of India (RBI) by 25 basis points on February 8. Along with many large commercial and public banks, small finance banks have raised their fixed deposit (FD) rates in response to the hike in the repo rate. The interest rates on FDs under Rs 2 crore have risen in this order by Fincare Small Finance Bank.

Receives the highest rate of 8.71%

Following the increase in interest rates, Fin Care Small Finance Bank is now offering its regular customers on FDs of 750 days 8.11% percent.

After this increase in the interest rate, this small finance bank is giving its customers 3% on FDs of 7 days to 45 days, 3.50% on FDs of 46 days to 90 days, 91 days to 180 days 4.50% on FD, 5.50% on FD of 181 days to 364 days, 7.25% on FD of 12 months to 15 months and 7.30% on FD of 15 months 1 day to 499 days. The same will give interest of 7.50% to its customers on FD of 500 days, 7.30% on FD of 501 days to 18 months and 7.30% on FD of 18 months to 24 months.  Here you will get 8.11% interest, on the other hand, this small finance bank offers its customers 7.50% on FDs of 24 months to 749 days, maximum 8.11% on FDs of 750 days, 7.50% on FDs of 751 days to 999 days and 1000 days. But will give interest of 8%.Apart from this, the bank offers 7% on FDs of 1001 days to 48 months, 6.75% on FDs of 48 months 1 day to 59 months, 7% on FDs of 59 months 1 day to 66 months and 66 months 1 day to 84 months. Will give interest of 6%.

This tiny financing bank also offers 8.71% interest for the same time period to its senior citizen clients. The raised new interest rates will be effective starting on February 13th, according to information obtained from the Fin Care Small Finance Bank’s official website.

Small Finance Bank’s new FD rates have increased.

After this increase in the interest rate, this small finance bank is giving its customers 3% on FDs of 7 days to 45 days, 3.50% on FDs of 46 days to 90 days, 91 days to 180 days 4.50% on FD, 5.50% on FD of 181 days to 364 days, 7.25% on FD of 12 months to 15 months and 7.30% on FD of 15 months 1 day to 499 days. The same will give interest of 7.50% to its customers on FD of 500 days, 7.30% on FD of 501 days to 18 months and 7.30% on FD of 18 months to 24 months.
Here you will get 8.11% interest, on the other hand, this small finance bank offers its customers 7.50% on FDs of 24 months to 749 days, maximum 8.11% on FDs of 750 days, 7.50% on FDs of 751 days to 999 days and 1000 days. But will give interest of 8%.Apart from this, the bank offers 7% on FDs of 1001 days to 48 months, 6.75% on FDs of 48 months 1 day to 59 months, 7% on FDs of 59 months 1 day to 66 months and 66 months 1 day to 84 months. Will give interest of 6%.
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FD Rate Hike: 102 year old private bank is giving 8.50% return on FD for 300 days. https://idnsek.com/2023/02/10/fd-rate-hike-102-year-old-private-bank-is-giving-8-50-return-on-fd-for-300-days/?utm_source=rss&utm_medium=rss&utm_campaign=fd-rate-hike-102-year-old-private-bank-is-giving-8-50-return-on-fd-for-300-days https://idnsek.com/2023/02/10/fd-rate-hike-102-year-old-private-bank-is-giving-8-50-return-on-fd-for-300-days/#respond Fri, 10 Feb 2023 12:04:00 +0000 https://idnsek.com/2023/02/10/fd-rate-hike-102-year-old-private-bank-is-giving-8-50-return-on-fd-for-300-days/ 25 Views

 FD Rate Hike: The country’s 102-year-old Tamilnad Mercantile Bank was established in 1921. Which has 509 branches across India and 12 regional offices. The bank has increased the interest rates on fixed deposits of less than Rs 2 crore .

FD Rate Hike

According to the official website of the bank, the new rates are effective from today, February 10, 2023. Let us tell you that two days ago the MPC of RBI has increased the policy interest rates by 25 basis points.(ads1)

After which the repo rate has become 6.50 percent. The maximum interest rate for fixed deposit customers of Tamil Nadu Mercantile Bank will be 8 per cent for general customers and 8.50 per cent for senior citizens.

Tamil Nadu Mercantile Bank FD Rates

  • The bank will pay 5.25 percent interest on FDs of 7 days to 120 days.
  • The bank will pay 6% interest on FDs of 121 days to less than 1 year.
  • The bank will give a maximum interest rate of 8 percent on FD of 300 days.
  • Tamil Nadu Mercantile Bank will give 7.25 percent interest rate on 1 year FD.
  • The bank will pay 7% interest on FDs of more than 1 year to less than 2 years.
  • The bank will pay 6.75 percent interest on FDs of 2 years to less than 3 years.
  • The bank will pay 6.50 percent interest on FDs of 3 years to 10 years.
  • Siniya citizens will get this much return

(ads2)
Senior citizens will get 0.50 per cent or 50 basis points more than the standard rate on fixed deposits maturing in 300 days to 10 years. In such a situation, senior citizens can get a maximum return of 8.50 per cent by booking their fixed deposits with Tamil Nadu Mercantile Bank for a tenure of 300 days.

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RBI repo rate hike: Best time to book your fixed deposits (FDs)? https://idnsek.com/2023/02/08/rbi-repo-rate-hike-best-time-to-book-your-fixed-deposits-fds/?utm_source=rss&utm_medium=rss&utm_campaign=rbi-repo-rate-hike-best-time-to-book-your-fixed-deposits-fds https://idnsek.com/2023/02/08/rbi-repo-rate-hike-best-time-to-book-your-fixed-deposits-fds/#respond Wed, 08 Feb 2023 17:03:00 +0000 https://idnsek.com/2023/02/08/rbi-repo-rate-hike-best-time-to-book-your-fixed-deposits-fds/ 24 Views

 In its first monetary policy meet after the Union Budget 2023, the Reserve Bank of India (RBI) has hiked the repo rate by 25 basis points. So, this will definitely bring cheers to the fixed deposit investors as very soon the banks will start passing on the benefits to the customers in terms of hike in deposit rates. 

RBI 25 bps repo rate hike bring cheers to the fixed deposit investors
RBI 25 bps repo rate hike bring cheers to the fixed deposit investors(ads1)

Amit Gupta, MD, SAG Infotech said that it will be closely scrutinised to see how much the banks increase their FD rates after the policy rate hike in February.

“It’s indeed accurate that an increase in bank lending rates will have a direct impact on both bank depositors and new loan borrowers. Banks raise the interest rate on their consumer loans following an increase in the repo rate, and they often extend the loan’s term rather than increasing the monthly EMI after the loan interest rate hike,” stated Gupta.

RBI repo rate hike: Good news for FD investors

Archit Gupta, Founder and CEO, Clear said that this is indeed a good news for fixed deposit investors as banks will raise deposit rates.

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“The rate of deposit would also get increased by some margin, making the FDs more attractive and providing a source of fixed income. Due to this more people would be inclined to invest in the FDs thereby creating a shortage of free floating money in the market. This would in turn curtail the expenditure done by the retail customers of the banks,” stated Gupta.

Latest bank FD rates

Currently, the top banks, such as State Bank of India (SBI), Axis bank, HDFC, ICICI and Kotak Bank, offer an interest rate in the range of 3% – 6.35%. For a tenor of 2 years, the interest rate of SBI FDs is 6.75%, Axis bank FDs is 7.26%, HDFC bank FDs is 7%, ICICI bank FDs is 7%, and Kotak bank FDs is 6.75%. However, IDFC First Bank and IndusInd Bank offer interest rates at 7.5% for 2 years FD. 

RBI MPC raises repo rate by 25 bps to 6.5%

The Monetary Policy Committee (MPC) of the Reserve Bank of India decided to raise the key benchmark interest rate by 25 basis points to 6.5 per cent on Wednesday. Four out of six members of MPC have decided to go ahead with this hike in the repo rate, RBI Governor Shaktikanta Das said on Wednesday.(ads2)

Shaktikanta Das-headed Monetary Policy Committee (MPC) started its three-day meeting on February 6 amid the rate hiking spree that started in May last year to check inflation.

The central bank increased the important benchmark interest rate (repo) by 35 basis points (bps) in its review of the country’s monetary policy in December, following three consecutive rises of 50 bps.

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Good news for senior citizens! Government has increased the investment limit in this scheme. https://idnsek.com/2023/02/01/good-news-for-senior-citizens-government-has-increased-the-investment-limit-in-this-scheme/?utm_source=rss&utm_medium=rss&utm_campaign=good-news-for-senior-citizens-government-has-increased-the-investment-limit-in-this-scheme https://idnsek.com/2023/02/01/good-news-for-senior-citizens-government-has-increased-the-investment-limit-in-this-scheme/#respond Wed, 01 Feb 2023 16:47:00 +0000 https://idnsek.com/2023/02/01/good-news-for-senior-citizens-government-has-increased-the-investment-limit-in-this-scheme/ 20 Views

 Budget 2023 : The government has made the biggest announcement for senior citizens in the budget. The government has given the biggest benefit in the savings scheme being run for senior citizens.

The government has increased the investment limit in this scheme. This will help senior citizens to increase their income. The government has increased the investment limit in the monthly income scheme from Rs 4.50 to Rs 9 lakh in the budget.(ads1)

Government gave gift to senior citizens

The government has increased the investment limit for Senior Citizen Saving Scheme (SCSS) from Rs 4.50 lakh to Rs 9 lakh for singles. Earlier this limit was Rs 4.50 lakh for single which has been increased. For joint investment, the limit has been increased from Rs 15 lakh to Rs 30 lakh. Earlier, the limit of investment was Rs 15 lakh for investment in joint account or name of both senior citizen husband and wife.

Interest on Senior Citizen Monthly Income Scheme

The government is paying 7.60 percent interest on the Senior Citizen Monthly Income Scheme. The government had recently increased the interest on it from 7.40 per cent to 7.60 per cent. In this, the benefit of tax exemption is also available under Section 80C of Income Tax on investment.

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Sukanya Samriddhi Yojana: Big news! If you invest money in Sukanya scheme then stop! First know this big update. https://idnsek.com/2023/01/25/sukanya-samriddhi-yojana-big-news-if-you-invest-money-in-sukanya-scheme-then-stop-first-know-this-big-update/?utm_source=rss&utm_medium=rss&utm_campaign=sukanya-samriddhi-yojana-big-news-if-you-invest-money-in-sukanya-scheme-then-stop-first-know-this-big-update https://idnsek.com/2023/01/25/sukanya-samriddhi-yojana-big-news-if-you-invest-money-in-sukanya-scheme-then-stop-first-know-this-big-update/#respond Wed, 25 Jan 2023 05:40:00 +0000 https://idnsek.com/2023/01/25/sukanya-samriddhi-yojana-big-news-if-you-invest-money-in-sukanya-scheme-then-stop-first-know-this-big-update/ 21 Views

 Many schemes are being run by the Central Government. Through these schemes, the aim of the government is to benefit different classes. One of these schemes is Sukanya Samriddhi Yojana. Sukanya Samriddhi Yojana, run by the government, is a government-backed small savings scheme that helps parents secure their daughter’s future.

Sukanya Samriddhi Yojana
(ads1)

This scheme can be easily opened in the form of a savings account in the name of the girl child in the post office and specified private or public banks. The interest rates of Sukanya Samriddhi Yojana are declared quarterly.

Sukanya Samriddhi Yojana

Sukanya Samriddhi Yojana can be opened in the name of a girl child below 10 years of age. Presently the scheme is providing 7.6% interest on deposits. Sukanya Samriddhi Yojana was launched as part of the ‘Beti Bachao Beti Badhao’ campaign of the Government of India. Investment plan can be opened in the name of a girl child to help her guardian in meeting the financial needs including education and marriage.

Investment Amount(ads2)

This scheme is currently offering an interest rate of 7.6 per cent per annum. A person planning to invest in Sukanya Samriddhi Yojana can start the scheme any time after the birth of the girl child till the age of 10 years with a minimum deposit of Rs.250. At the same time, in this scheme, an amount of up to Rs 1,50,000 can be deposited in a financial year.

Income Tax Exemption

On the other hand, if you are looking for any tax exempt scheme, then know the updates regarding Sukanya Samriddhi Yojana as well. You can also invest in this scheme for tax exemption. Through this scheme, people can take advantage of tax exemption under section 80C of the Income Tax Act.

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