National Pension System (NPS) - NPS is a pension scheme offered by the government of India, aimed at providing financial security to individuals during their retirement. It allows individuals to invest regularly and build a corpus, which can be used to purchase an annuity at the time of retirement.
Sukanya Samriddhi Yojana (SSY) - SSY is a savings scheme for the girl child, launched by the government of India. It allows parents to save for their daughter's future, including education and marriage expenses, with attractive interest rates and tax benefits. Interest rate for FY 22-23 is 7.6%.
Senior Citizens' savings scheme (SCSS) - SCSS is a savings scheme offered by the government of India for senior citizens. It offers attractive interest rates and tax benefits, and it provides a steady source of income for senior citizens during their retirement. Interest rate for FY 22-23 is 7.4%.
Employee Provident Fund (EPF) - EPF is a savings scheme for employees, where a portion of an employee's salary is deducted and deposited into a provident fund account. The employer also contributes an equal amount, and the corpus accumulated can be used by the employee at the time of retirement. Interest rate for FY 22 - 23 is 8%.
These government schemes are safe and secure, and they offer a convenient way for individuals to invest and grow their wealth over time. However, it's important to understand the terms and conditions of each scheme before investing, and to consult with a financial advisor if necessary.
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