Scroll News
  • India
    • National
    • State News
  • World
  • Business
  • Education
  • Entertainment
  • Lifestyle
    • Health & Fitness
    • Fashion & Beauty
    • Travel
    • Food
  • Tech
    • App News
    • Gadgets
  • Auto
  • Others
    • Sports
    • Agriculture
    • Science
    • Astrology
    • Finance/Money
    • Press Release
    • Religion
    • Social Work
No Result
View All Result
  • India
    • National
    • State News
  • World
  • Business
  • Education
  • Entertainment
  • Lifestyle
    • Health & Fitness
    • Fashion & Beauty
    • Travel
    • Food
  • Tech
    • App News
    • Gadgets
  • Auto
  • Others
    • Sports
    • Agriculture
    • Science
    • Astrology
    • Finance/Money
    • Press Release
    • Religion
    • Social Work
No Result
View All Result
Scroll News
No Result
View All Result
Home Business

Best Savings Plan to invest in 2022

Scroll News by Scroll News
June 20, 2022
in Business
0
Best Savings Plan to invest in 2022
Share on FacebookShare on Twitter

It is crucial to understand the benefits of different saving plans in India. Read this to know about best saving plans and its benefits.

You can become rich too with this investment

You May Also Like This

Cynextgen Launches Ambitious “Indian Marketing Blueprint” to Transform Digital Marketing Across India’s 29 States and 7 Union Territories

Cynextgen Launches Ambitious “Indian Marketing Blueprint” to Transform Digital Marketing Across India’s 29 States and 7 Union Territories

August 19, 2025
Raexel Media LLC Achieves Shopify Partner Status After Managing USD 13M+ in Ad Spend and USD 68.4M in Digital Asset Exits

Raexel Media LLC Achieves Shopify Partner Status After Managing USD 13M+ in Ad Spend and USD 68.4M in Digital Asset Exits

August 12, 2025
Rest The Case Launches New Legal Series to Help Startup Founders Avoid Costly Mistakes

Rest The Case Launches New Legal Series to Help Startup Founders Avoid Costly Mistakes

August 12, 2025

Most people dream of having a financially free life—a life where they can enjoy their time without worrying about anything.

But it is a distant dream for many as they are not aware of the path to choose.

There is no shortage of saving plans. Investing in good programs is different from narrowing down and choosing the suitable strategy for you. Hence it is crucial to understand the benefits of savings plan available in India.

In this article, we will be discussing various saving plans in India.

Saving Plans in India

India has a lot of varieties when it comes to saving plans. To choose the best saving plan in India, you will need to understand the benefits of savings plan.

The following are some of the best savings plans to invest in 2022.

1. National Savings Certificate

Govt of India issues NSC. They are suitable for people in business and salaried employees. It is one of the most reliable savings plans in India. There are two types of NSC –

  • NSC VIII issue
  • NSC IX issue.

The rate of interest of NSC is quite attractive. They provide returns better than fixed deposits. The maximum investment duration is five years for the VIII issue and ten years for the IX issue.

Every year, Govt of India sets the rate of return, and the current recovery is 8.5% and 8.8% for the VIII and IX issues.

Benefits-

  • Investment up to 1 lac becomes eligible for a tax rebate.
  • TDS does not apply for NSC.

2. Life Insurance

Life is uncertain, and we never know what event can occur. The recent pandemic has proved why it is essential to have insurance. Life insurance cum savings plan is the best saving plan in India.

Plans like Canara HSBC OBC Life Insurance’s Guaranteed Income4Life plan provides

  • Financial stability for your family
  • Steady income
  • Other tax benefits.

These plans are highly flexible wrt premium payment and sum assured.

Benefits–

  • Protection to your family from uncertain events
  • Tax benefits under sections 80C and 80D of the income tax act.
  • Based on the maturity milestone, a sum is paid out as income.
  • Loyalty benefits that can increase your sum assured by 900%

3. Recurring Deposits

RDs are an enhanced version of Fixed Deposit. RDs make the best instrument for emergency funds and short-term goals. It is the best plan for having high liquidity.

Benefits-

  • RDs usually provide high-interest rates ranging from 6.75% to 7.25%
  • There are no penalties when you miss paying your contribution. Hence a lot flexible.
  • You can start as low as 2000 every month, which means you can plan for the event with a minor financial goal.
  • You can start an RD for as less as six months.

4. Mutual Funds

It is one of the most widely used instruments for savings. Mutual funds are a type of managed investment scheme. Investors use them to pool their money together and grow wealth through investments. Mutual funds are open-ended, meaning they can buy and sell securities.
The capital gain on a mutual fund scheme depends on the performance of the securities it decides to buy. The market condition is also a factor that determines the value of the particular security purchased.

Benefits-

  • Professional management
  • Low risk, diversification
  • Liquidity
  • Economies of scale.

5. Public Provident Fund (PPF)

Public Provident Fund (PPF) is a retirement savings scheme introduced by the government of India in 1968. The plan allows you to earn interest on your investments, which is not taxable under income tax. You can open a PPF account and deposit money any time during the year.
The interest earned from this account can be claimed as part of your tax rebate under section 80C deductions. This means that your taxable income will be reduced by the amount deposited into this account.

Benefits-

  • It falls under exempt-exmept-exempt category
  • You can claim the investment for tax benefit under section 80C.
  • You can invest a sum of 1.5 lac.
  • It does not invest in equities, a non-participating savings plan.
  • The rate of interest is around 7.1 % as of 2022

6. Sukanya Samriddhi Yojana (SSY)

Govt of India introduced this savings plan the provide a better life to the girl child. The parents of the girl child can invest in SSY for a maximum of 21 years.
Return on this saving plan is one of the best among the other plans.
Parents can use the amount accumulated under Sukanya Samriddhi Yojana for higher education or the marriage of the girl child.

Benefits-

  • The contributor can avail of the contribution for tax benefits under section 80C of the income tax act.
  • The rate of interest is 7.6% as of 2022.

Final Words
Choosing the right saving plan can make or break your financial goals. You should be careful in selecting the right plan based on the benefits of savings plan. A plan which might be the best saving plan in India might work for someone but may not necessarily be beneficial for you.

Tags: benefits of savings planBest Savings Plan to investCanara HSBC LifeCanara HSBC OBC Life InsuranceGuaranteed Income4Life planLife InsuranceMutual FundsNational Savings CertificatePublic Provident Fund (PPF)Recurring DepositsSukanya Samriddhi Yojana (SSY)
ShareTweetShareShareSendSend
Previous Post

Promoting the art of learning is skill-based education, say the founders of a top multi-skill center Avish Educom.

Next Post

Mr. Ranjeet Maurya bags the National Excellence Award at the recent MSME awards for Business Excellence Event

Related Posts

Cynextgen Launches Ambitious “Indian Marketing Blueprint” to Transform Digital Marketing Across India’s 29 States and 7 Union Territories
Business

Cynextgen Launches Ambitious “Indian Marketing Blueprint” to Transform Digital Marketing Across India’s 29 States and 7 Union Territories

August 19, 2025
Raexel Media LLC Achieves Shopify Partner Status After Managing USD 13M+ in Ad Spend and USD 68.4M in Digital Asset Exits
Business

Raexel Media LLC Achieves Shopify Partner Status After Managing USD 13M+ in Ad Spend and USD 68.4M in Digital Asset Exits

August 12, 2025
Rest The Case Launches New Legal Series to Help Startup Founders Avoid Costly Mistakes
Business

Rest The Case Launches New Legal Series to Help Startup Founders Avoid Costly Mistakes

August 12, 2025
Bangalore Startup Emvo AI Slashes Digital Workforce Deployment From 6 Months to Minutes
Business

Bangalore Startup Emvo AI Slashes Digital Workforce Deployment From 6 Months to Minutes

August 12, 2025
Why Farm Natura Soil Is More Valuable Than Gold
Business

Why Farm Natura Soil Is More Valuable Than Gold

July 31, 2025
Trusted Inclusive Futures Network Hosts Groundbreaking Evening of Inclusion, Dialogue, and Representation
Business

Trusted Inclusive Futures Network Hosts Groundbreaking Evening of Inclusion, Dialogue, and Representation

July 31, 2025
Next Post
Mr. Ranjeet Maurya bags the National Excellence Award at the recent MSME awards for Business Excellence Event

Mr. Ranjeet Maurya bags the National Excellence Award at the recent MSME awards for Business Excellence Event

I was amazed to see the audience's reaction to Pankaj Tripathi Receiving the award at IIFA 2022- Rajender Singh Pahl

I was amazed to see the audience's reaction to Pankaj Tripathi Receiving the award at IIFA 2022- Rajender Singh Pahl

Creating waves in the online education sector enter JOTOBOTO

Creating waves in the online education sector, enter JOTOBOTO

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Union Minister Dr Jitendra Singh said Corona took India back to its original ethos

5 years ago

StayHappi Generic range of medicines at par in quality with any other best-selling market drug brand

4 years ago
IPAF to launch its 1st “Nritya Ratna Youth Icon Award” on 31st August at Kamani Auditorium

IPAF to launch its 1st “Nritya Ratna Youth Icon Award” on 31st August at Kamani Auditorium

2 years ago
Rebolt Launches its EV Charging Station at Lulu Global Mall, Bengaluru

Rebolt Launches its EV Charging Station at Lulu Global Mall, Bengaluru

3 years ago

Categories

  • Agriculture
  • App News
  • Astrology
  • Auto
  • Business
  • Education
  • Entertainment
  • Fashion & Beauty
  • Finance/Money
  • Food
  • Gadgets
  • Health & Fitness
  • Lifestyle
  • National
  • Photography
  • Politics
  • Press Release
  • Religion
  • Science
  • Social Work
  • Sports
  • State News
  • Tech
  • Travel
  • World

Topics

Ace Entrepreneur actor Artificial intelligence Bangalore Bengaluru Blockchain technology BRICS CCI Content Creator COVID-19 Cryptocurrency CSIR DBT Delhi Digital Marketing digital marketing agency DST Dubai Education entrepreneur entrepreneurship Fairplay Gujarat Gurugram Hyderabad IIT Delhi India Indian Institute of Technology Influencer Influencerquipo innovation Kingston Technology K Raheja Corp Homes memory products and technology solutions Mumbai Music Industry pandemic photography producer Pune real estate research Shan Se Entertainment Shantanu Bhamare social media Surat
No Result
View All Result

Highlights

Redefining Fitness In India: Siraj Lalani’s Vision With Plus Fitness 

Raexel Media LLC Achieves Shopify Partner Status After Managing USD 13M+ in Ad Spend and USD 68.4M in Digital Asset Exits

Rest The Case Launches New Legal Series to Help Startup Founders Avoid Costly Mistakes

Bangalore Startup Emvo AI Slashes Digital Workforce Deployment From 6 Months to Minutes

Ethnic Plus Launches Festive Collection 2025: Where Traditions Meet Affordable Fashion

12 Minutes to CLAT: India’s Most Affordable CLAT Coaching That Prevents Students From Dropping Law Dreams Due to High Fees

Trending

Cynextgen Launches Ambitious “Indian Marketing Blueprint” to Transform Digital Marketing Across India’s 29 States and 7 Union Territories
Business

Cynextgen Launches Ambitious “Indian Marketing Blueprint” to Transform Digital Marketing Across India’s 29 States and 7 Union Territories

by Scroll News
August 19, 2025
0

Delhi, , August 19, 2025: Cynextgen, a comprehensive digital marketing agency established in  April 2020, has announced...

Bombay House Luxury presented the Debut of ‘World Spirits Series’ curated by Shatbhi Basu at Jyran in Sofitel BKC, Mumbai

Bombay House Luxury presented the Debut of ‘World Spirits Series’ curated by Shatbhi Basu at Jyran in Sofitel BKC, Mumbai

August 18, 2025
From Street Corners to Social Stardom: The Unstoppable Rise of Jiboombaa in Paris 

From Street Corners to Social Stardom: The Unstoppable Rise of Jiboombaa in Paris 

August 13, 2025
Redefining Fitness In India: Siraj Lalani’s Vision With Plus Fitness 

Redefining Fitness In India: Siraj Lalani’s Vision With Plus Fitness 

August 13, 2025
Raexel Media LLC Achieves Shopify Partner Status After Managing USD 13M+ in Ad Spend and USD 68.4M in Digital Asset Exits

Raexel Media LLC Achieves Shopify Partner Status After Managing USD 13M+ in Ad Spend and USD 68.4M in Digital Asset Exits

August 12, 2025
  • About Us
  • Advertise
  • Contact Us
  • DMCA
  • Follow on Google News

© 2022 Scroll News

No Result
View All Result
  • About Us
  • Advertise
  • Contact Us
  • DMCA
  • Home
  • Privacy Policy

© 2022 Scroll News