Best Saving Plan For 1 Year

The savings plan which was initially only meant for the farmers encourages long term savings among the people.

Best saving plan for 1 year.

Sep 12 2020 learn multiple ways to save money. Best investment option in india for 3 years 1. The central bank with effect from july 1 2020 has launched floating rate savings bond 2020 taxable. Get savings plans money saving tips and how to save money.

Endowment plans are regular saving plans which help build a corpus and give guaranteed maturity benefits along with bonuses. Best savings plans in insurance sector endowment plans. This savings plan by the indian post office doubles whatever money is invested in a period of 100 months i e eight years and four months. See more ideas about money saving tips ways to save money saving tips.

These bonds were launched by replacing the erstwhile 8 percent savings taxable bonds 2003 with the 7 75 per cent savings taxable bonds with effect from january 10 2018. The product is the best saving plan in india as they give returns that are equivalent to a fixed yield or deposit. If you have a 5 000 savings balance choosing an account that pays 1 00 will earn you more than 50 in a year while an account paying you the average would earn less than 5. These bonds had tenure of 7 years.

Recently the falling repo rate regime has brought the savings account interest rates to an average of 2 4.