Get more returns than bank FD by investing in these five schemes, know complete information

Investment Tips: Common people and most of the salaried people invest in safe investment schemes. The most popular scheme of which is Bank FD. But do you know, there are many such schemes of the government and banks, in which you can get more returns than bank FD. Which can help you achieve your financial goals faster.

Up to 8 percent interest is available on small savings schemes through post office. This includes schemes including Sukanya Samriddhi Yojana, National Savings Certificate, Mahila Samman Savings Certificate. Whereas interest on bank FD ranges from 4 to 7 percent. It is worth noting that FD interest rates of different banks are different.

Small Savings Schemes That Give Highest Interest

6.7 percent interest on post office recurring deposits

According to indiapost.gov.in website, post office recurring deposits are earning 6.7 percent interest annually. In this scheme of government supported India Post, monthly Rs. Rs 100 or more can be invested with a maturity period of five years. The investor can withdraw his deposit after 3 years.

how to open account

You can open a Post Office Savings Scheme account through check or cash by visiting the nearest post office. For which documents like account opening form, KYC form (for new customers), PAN card, Aadhar card, birth certificate etc. will have to be submitted. You can also avail the benefits of Small Savings Scheme by uploading the above documents through e-banking. You can open recurring deposit and fixed deposit accounts under e-banking. In which you can also get loan against savings scheme.