Fri, Mar 22, 2024
Senior Citizens Savings Scheme Account (SCSS) is a post office scheme that provides guaranteed return in the form of 8.2 per cent annual interest to senior citizens. The central government scheme offers tax benefits up to Rs 1.50 lakh on deposits under Section 80C of the Income Tax Act. Individuals above 60 years of age can open a single or a joint account in SCSS. An SCSS account holder needs to pay TDS if the earnings from the interest income exceeds Rs 50,000 in a financial year. Know more about the SCSS scheme and what you will get on one-time deposits of Rs 10 lakh, Rs 20 lakh and Rs 30 lakh in it.
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Tue, Feb 27, 2024
SIP vs SSY: After a girl child is born, an investment in a guaranteed return or market-linked scheme may be the best decision. It may help you grow your money so that you can use it for your girl's education or marriage. For the same purpose, Post Office runs the Sukanya Samriddhi Yojana (SSY), which offers an interest rate of 8.2 per cent calculated and compounded yearly. On the other hand, many new-age investors opt for systematic investment plan (SIP) in mutual funds. Sometimes, investors get confused about whether they should invest in a fixed return scheme such as SSY or a market-linked investment option like SIP. Through calculations, know which of the two options may give you better returns.
Fri, Mar 20, 2020
Money tips: Save over Rs 2 lakh by investing in small saving schemes, Financial Expert Vikas Puri suggests; FD, PPF, Sukanya Samridhi and NPS are viable options for you
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