Author: Naresh Saini

Post office small savings schemes are a popular choice for Indian investors seeking safe and reliable returns on their savings. With schemes like the Public Provident Fund (PPF), Sukanya Samriddhi Yojana (SSY), and Senior Citizen Savings Scheme (SCSS), the post office offers various investment options that cater to different needs. The Indian government adjusts the interest rates on these schemes every three months, and investors are eagerly awaiting the new rates for the October-December quarter of 2024. Here, we’ll break down the current interest rates for post office schemes and provide insights into what changes you can expect in the…

The LIC Amritbaal Plan is a unique savings and life insurance policy designed to meet the educational and financial needs of your child in the future. It is a non-linked, non-participating insurance plan, meaning it is not affected by stock market fluctuations, and it doesn’t participate in LIC’s profit-sharing. The plan guarantees the benefits to policyholders without any bonuses. The primary aim of the plan is to help accumulate a substantial corpus for your child’s future expenses, including higher education and other significant financial needs. Let’s break down this plan in simpler terms, covering its key features, benefits, and how…

New scheme to provide financial support and skill development for young job seekers across India. The Central Government is preparing to introduce a new initiative aimed at empowering the youth with job opportunities and financial aid. Under this scheme, young people will receive a monthly stipend of Rs 5000 to help support their training and career development. The guidelines for this new program are expected to be released soon, and a dedicated portal will be launched for easy access to this scheme. Internship Scheme Introduced in Budget 2024 The Internship Scheme was first proposed in the 2024 Union Budget as…

Gold and Sensex are both on a strong upward trend, but which one will make investors rich faster? Find out the latest returns and future predictions. Gold and Sensex Show Strong Growth, But Which is Faster? Investors are currently witnessing strong competition between gold and Sensex as both are showing impressive growth in 2023. While gold has outpaced the Sensex in returns since January this year, the Sensex has held its own in the longer run, performing better over the past year. Investors in both assets are now wondering, “Who will reach 1 crore first?” With the ongoing bullish trends…

When it comes to securing a child’s future, two government-backed schemes stand out—Sukanya Samriddhi Yojana (SSY) and Public Provident Fund (PPF). Both are popular for long-term savings and offer tax-free returns, but which one is better if you invest Rs. 1.50 lakh annually for 15 years? Let’s break it down in a simple comparison to help you make an informed decision. Sukanya Samriddhi Yojana (SSY) and Public Provident Fund (PPF): An Overview Sukanya Samriddhi Yojana (SSY) is a scheme specifically designed for the girl child. The account matures after 21 years, but you only need to invest for 15 years.…

The Sukanya Samriddhi Yojana (SSY), a popular savings scheme designed for the future of daughters, is undergoing a significant change that will come into effect on October 1, 2024. This change, introduced by the Indian government, requires immediate attention from parents and legal guardians. Failing to act could result in the closure of your daughter’s SSY account, which is widely known for securing funds for education and marriage. If your daughter’s SSY account was opened by someone who is not her legal guardian or natural parent, you need to transfer the account immediately. With just a couple of days left…

The government has issued a strong warning to pensioners across the country to remain cautious about fraudulent schemes aimed at stealing their retirement money. As online transactions and services grow more common, cybercriminals are finding new ways to take advantage of the elderly. Recently, a disturbing trend has emerged where senior citizens, especially those relying on pensions, are being targeted by scammers posing as government officials. How the Scams Are Being Carried Out According to the Central Pension Accounting Office (CPAO), fraudsters are pretending to be CPAO officials and are contacting pensioners through WhatsApp, email, and SMS. These criminals send…

Interest rates on small savings schemes like Public Provident Fund (PPF) and Sukanya Samriddhi Yojana (SSY) have seen an upward trend in recent years, offering attractive returns for investors. However, experts now predict that this trend may reverse, with possible rate cuts in the coming months. The combination of domestic and global factors, such as falling inflation and the US Federal Reserve’s interest rate cuts, could lead to a drop in rates over the next 6 to 12 months. For now, the interest rate on Sukanya Samriddhi stands at 8.2%, while PPF offers 7.1%. With new interest rates set to…

For many people today, retirement planning is a priority. While mutual funds through SIP (Systematic Investment Plan) have become a go-to option for building wealth, the government also offers several secure schemes. One of the most popular and reliable schemes is the Public Provident Fund (PPF). Designed to help individuals accumulate a significant retirement fund, PPF not only guarantees stable returns but also provides tax benefits, making it one of the best tools to secure a steady income after retirement. By investing wisely and consistently, you could easily build a fund large enough to earn a monthly pension of ₹78,000…

The Indian government is expected to review and possibly increase the interest rates of small savings schemes, including the Public Provident Fund (PPF), Senior Citizen Saving Scheme (SCSS), National Savings Certificate (NSC), and Sukanya Samriddhi Yojana (SSY) for the October-December quarter of 2024. This move comes as the country’s deposit growth in banks has slowed down, prompting the need to encourage more savings. The interest rates for these schemes have remained unchanged for the last two quarters. PPF, in particular, has seen no rate changes for the past four years, with the current rate standing at 7.1%. Why an Increase…