Financial independence and good saving habits, is one of the fundamental expectations every individual have and want to save some money and feel comfortable in the knowledge that no unforeseen financial contingency can deviate him from chosen way of lifestyle . Modern banking is a big supporter of saving schemes and encourages individuals to open clever investment instruments that are intended to save money for a specified duration, earn periodic interest and offer said investors the peace of mind that invested amount is aggressively growing and completely protected.
Both public and private sector banking system, offers a multitude of saving schemes that are easy to enroll with and are perfectly suited for the strategic as well as casual investor. Their simplicity and abundance makes them a much preferred savings option.Generally long term savings are focussed on a time in the future when abundant amount will be required to comply with an expected requirement like after Retirement, marriage of a son/daughter, long awaited foreign trip, etc. demand strategic, long term financial planning.
Most important factor of saving schemes arethat they have clearly defined procedureHere are the best investment schemes that will ensure that you have sufficient savings for your future financial needs.
- Fixed Deposit FD’s
- Mutual Funds
- Equity Linked Saving Schemes ELSS
- National Saving Certificate
- National Saving Schemes
- Public Provident Fund (PPF)
- Post Office Saving Scheme
- Senior Citizen Saving Scheme (SCSS)
- KisanVikasPatra (KVP)
- SukanyaSamriddhi Account
- Atal Pension Yojana
- Employee Provident Fund (EPF)
- National Pension System (NPS)
- Voluntary Provident Fund (VPF).