As we become financially independent, we start enjoying several things in life without explaining anything to anyone. However, with that kind of freedom also comes the responsibility of investing our hard-earned money. As a matter of fact, the sooner you start investing your money, the better results you will get. However, if you are a little concerned about investing in privately owned schemes, you can choose from the government investment schemes. There are in fact several investment schemes that have been started by the government that can bring promising results. You can have access to these schemes through the post office, banks, and many financial institutions. Let us check out some of the schemes and plans.

Prime Minister Vaya Vandana Yojana (PMVVY)

This plan is also often called PMVVY and is one of the best retirement as well as pension plans for senior citizens in India. According to the scheme, you can get a regular fixed sum with a rate of interest of 8% to 8.3% for a total of 10 years. You can also avail of a monthly pension of INR 1000 after you buy a price of INR 1.5 lakh. For a monthly pension of INR 10,000, you have to purchase a maximum price of INR 15 lakh. You can also enjoy a loan of up to 75% of the purchase price under this plan. You can even appoint names of nominees under this scheme.

Atal Pension Yojana (APY)

Atal Pension Yojana, which is mostly called APY, is basically a social security plan that is offered by the Government of India. This scheme is especially for people who are associated with unorganized sectors. If you somehow come under the economically weaker section, you can get this pension plan so that you can make your future secure. As of now, it is certainly one of the best investment plans in the country for people who are in the age range of 18-40 years. Once you make your investment in this scheme, you will certainly get a pension that may range from INR 1000 to INR 5000. However, it all depends on the tenure as well as the amount that you are investing.

Pradhan Mantri Jan Dhan Yojana (PMJDY)

Pradhan Mantri Jan Dhan Yojana, also known as PMJDY, is again one of the investment schemes provided by the Government of India to provide the citizens of the country with a financially secured future. It is especially for people who do not have a bank account yet. The minimum age for opening a bank account is 10 years for minors and 18 years for adults. Since it is a zero-balance account, you do not have to be bothered about maintaining a certain balance in it. This savings account also comes with an overdraft facility which is totally based on the transactions as well as operations of the bank.

National Savings Scheme (NSC)

National Savings Scheme (NSC) has been in the market for quite some time. It is one of the best savings plans that you can go for, especially if you want to meet important financial planning requirements. The minimum investment that you have to make is INR 100, while there is no maximum limit for investment. The rate of interest is fixed by the Government of India on the basis of inflation and several other factors. The benefits of this scheme can only be enjoyed by the Indian citizens and residents. However, before opting for this scheme, you must check the eligibility criteria and see if you fulfill them.

To check some more of these schemes, you can visit the website of IIFL. You can also come across term insurance policies and see if you can find anything that may be important to you.

By Manali

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