Top 5 Government Savings Schemes In 2020 Read Information

Top 5 Government Saving Schemes in 2020
Investment is the essence of financial planning and meeting financial goals. To encourage individuals to invest more, a number of savings schemes have been introduced by the government, financial companies and banks.
These government-backed schemes are suitable for investors who are willing to invest in long-term savings schemes, reap the tax benefits under the old tax regime (in some cases), but are reluctant to take any risks.
The applicable interest rate is revised and decided by the government every 3 months to a year. Before you choose the best savings plan for your investment, here’s an insight into the pros and cons of the top five government savings plans for 2020 –
Compare Top 5 Government Savings Schemes
Here is a tabular presentation of the five best savings plans in India that investors with low risk appetite can consider.
Invest in these 5 government schemes in the year 2020, there will be big benefits in the future
When it comes to investing, a large number of people avoid it. But time waits for no one. It can give you a big advantage if you decide to invest at the right time. If you haven’t made any investment yet, you can start now. If you have no idea about any other scheme, you can get a good return by investing in a special scheme of the government.
Invest in this scheme in the new years
5 Big returns in government schemes
An investment made at the right time pays off
Public Provident Fund (PPF) Public Provident Fund (PPF)
Investing in PPF is an easy option for everyone. If you are planning for the long term, invest in PPF. PPF currently earns 8% interest from the government. In the new year you can invest in this safe scheme.
=You can also start with just Rs 500 investment in this scheme. For this PPF account can be opened in any back or post office. You can also get an exemption of up to Rs 1.5 lakh in income tax on the basis of 80C.
Sukanya Samrudhi Yojana
Sukanya Samriddhi Yojana (SSY)
You can invest in this scheme if you want to secure your daughter’s future. The scheme launched by the Government of India for daughter marriage and higher education can be availed. The scheme has been launched on the basis of Betty Bachao-Betty Padhao. It is currently earning 8.40 per cent per annum. Income is tax free after maturity with tax exemption.
In this plan you can start from 250 rupees. The amount can be deposited for 15 years from the day of opening the account. A maximum of Rs 1.5 lakh can be deposited in an account in a financial year.
Atal Pension Scheme
=The scheme is beneficial for those working in the unorganized sector. The Modi government launched the scheme in 2015. Based on which a certain amount is available for post-retirement expenses, people in the age group of 18-40 years can avail the benefits of this scheme. Under this scheme, one has to invest for at least 20 years to get a pension.
=Depending on the scheme, he gets a minimum monthly pension of Rs.1000 and a maximum of Rs.5000. The benefit of pension will be available from the age of 60 years. If an 18-year-old wants to join the Atal Pension Scheme, he has to invest Rs 210 per month. One of its great features is that if the investor dies in the middle, the benefit to the family remains the same.

Prime Minister Labor Yogi
=The scheme can benefit artisans working in the unorganized sector. The scheme is for artisans earning Rs 15000 per month. From which after the age of 60 they can get a monthly pension of Rs. 3000. The scheme may involve workers in the age group of 18-40 years. The biggest feature of this scheme is that if you invest Rs 55 per month in it, you will get a pension of Rs 3000 per month.
=This scheme is designed in the same way as the EPF scheme. Which is for organized sector workers. In it the employee can withhold 12 per cent of his basic salary. The same amount is credited to its EPF. The government’s target is to connect 100 million unorganized workers to the scheme. The applicant must have a savings account and an Aadhaar card. A maximum of Rs 200 per month can be invested.
=The scheme was announced by PM Modi on May 9, 2015. It also includes a life insurance plan. In case of accidental death of the insured on the basis of this scheme, an amount of Rs. 2 lakh is given to his family. In addition, the policy has to be renewed every year. For this a premium amount of Rs. 330 has to be paid. The government claims that 5.91 crore Indians have so far joined the scheme.
=Apart from this PM Suraksha Vima Yojana is also for general public. The government’s scheme is for 18-70 year olds. This is a disaster insurance plan. The premium of Rs 12 per year remains to be paid. Beneficiary dies in an accident or is given assistance of Rs. 2 lakh for complete disability. If there is a partial disability, assistance of Rs. 1 lakh is given. You need to have a bank account to avail this scheme.


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