If you also invest in the government’s small savings scheme, then this news is useful for you. This is because today we are going to tell you in which schemes your money will double by when.
If you also want to get double profit from investment then this news can be useful for you. In fact, if you want to secure your financial future, then it is not only important to save money but it is equally important to increase it. Small Savings Scheme can help you in this work. The government runs many such schemes by investing in which you can grow your money safely. Today we are going to tell you about 3 such schemes, which have recently doubled the investment amount of investors.
Kisan Vikas Patra
At present, interest is being given at the rate of 7.5 percent per annum. By investing money in this ski, you can double it in a few years. The minimum investment limit in Kisan Vikas Patra is Rs 1000. At the same time, the maximum investment you can make is any amount. This is a lump sum investment scheme. That means you can leave it by putting money in it only once. You do not need to deposit money in installments again and again. The amount invested by you will also keep increasing with the help of compounding.
The investment you are making will double in 115 months. 115 months means 9 years 7 months. If you invest Rs 5 lakh, then after this time your amount will increase to Rs 10 lakh. Whereas, if you deposit Rs 4 lakh, then after the above mentioned time this amount will increase to Rs 8 lakh.
PPF
Interest rates on PPF have been kept at 7.1 percent and on post office savings deposits at 4 percent. Public Provident Fund helps people save for long-term financial goals. This scheme is also beneficial in tax saving. Currently 7.1 percent interest is being given in PPF. In such a situation, according to the rule of 72, it will take less than 10 years for your money to double.
Sukanya Samriddhi Yojana
Under Sukanya Samriddhi Yojana, interest rate of 8.2 percent will be available on the deposited amount. At the same time, the interest on post office three-year fixed deposits will be 7.1 percent. Sukanya Samriddhi (SSY) is a small savings scheme of the government. This helps in meeting the expenses of education and marriage for the future of daughters. This scheme is available for daughters below 10 years of age. Under the scheme, you can deposit a minimum of Rs 250 and a maximum of Rs 1.5 lakh annually.
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