TAX SAVING SCHEMES FOR WOMEN
Some of the investment offers that gives long-term benefits
A minimum of Rs 500 and a maximum of Rs 1.5 Lakh can be invested
1. PUBLIC PROVIDENT FUND (Future Goals)
PPF will earn an interest of 7.10%
3-years of lock-in period, after which the money can be redeemed or switched
2. EQUITY LINKED SAVINGS SCHEME MF (LONG-TERM GOALS)
ELSS provides returns aligned to the investors as per the performance of the securities in the underlying portfolio
EPF will earn an interest of 8.5%
3. EMPLOYEES PROVIDENT FUND (EPF)
Both the employees and their employer contribute certain part of their salaries each month
Banks provide FD interest rates to senior citizens at up to 8%
4. HOW DOES FIXED DEPOSIT (FD) WORK?
The tax deducted on FD can range from 0% to 30%, depending on the tax bracket of the investors
One can invest in gold coins. Gold rates are never fixed
5. INVESTING IN YELLOW METAL (GOLD COINS)
When the prices shoot up, you can make a fortune out of selling in exchange for cash or jewellery
Lock-in period would be 5 years
6. POST-OFFICE MONTHLY INCOME SCHEME
The rate of interest is 7.6% and the minimum amount which can invested is Rs 1,500 and the maximum amount is Rs 4.5 lakh
NPS Interest rates range from 9-12% p.a, can yield better returns compared to PPF and other schemes
7. NATIONAL PENSION SCHEME
Post retirement, you will receive a monthly pension just like a monthly salary
It requires investing certain part of your earnings in a pension account on regular basis