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Investing in PPF, SSY, SCSS, other small savings scheme? Here are 6 benefits that you should know


Small savings schemes like Public Provident Fund (PPF), Senior Citizens Savings Scheme (SCSS), and Suknaya Samridhi Yojana (SSY) have long been a popular investment choice for individuals, especially those with They are risk conservative, trying to protect their finances in the future. and accumulate wealth over time. There are many different small savings schemes available, so it’s important to choose one that’s right for your individual goals and risk appetite.

Here are the benefits of investing in a small savings scheme

1) Reliable source of income

A small savings scheme usually provides stable and predictable returns. “While the returns may not be as high as some riskier investment options, they offer a reliable source of income. This is especially beneficial for conservative investors who value consistency over high-risk, high-value strategies,” said Amit Gupta, MD, SAG Infotech.

2) Guaranteed Returns

Small savings schemes are government supported and virtually risk free. Investors can enjoy assured returns on their investment.

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3) Minimum Investment

Investors must make a minimum investment. Depending on the nine small savings schemes they choose, the amount can range from 250 to 1,000,

4) Diversification

These small savings schemes can be viable options to diversify your portfolio, and keep your accumulated corpus safe.

5) Tax Benefits

Your investment in many of these schemes qualifies for tax benefits. You get benefits under Section 80C of the IT Act, up to 1.5 Lakhs.

6) Affordability

According to Amit Gupta, individuals can effectively use small savings schemes to build a secure financial future, ensuring financial independence and stability for themselves and their families. Small savings schemes, with their inherent safety, affordability, and potential for generating regular income, serve as the cornerstone of a sound financial strategy.

Meanwhile, according to the gazette notice dated November 9, the government has relaxed the norms for the investments of the Public Provident Fund, the Senior Citizens Savings Scheme, and the National Time Savings Fund.

Disclaimer: The opinions and recommendations made above are the opinions of individual analysts, and not those of Mint. We encourage investors to check with certified experts before making any investment decision.

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Updated: 16 November 2023, 02:05 PM IST

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