Finance:National Savings Schemes
From HandWiki
National Savings Schemes (NSS) refer to a variety of savings instruments, primarily deposits, established by Government of India to promote savings among individuals and direct these funds towards financing the budget deficit of the central and state governments. Government attracts savers to the schemes by providing various incentives such as guarantee of the principal, tax-saving, protection against attachment, higher than prevailing interest rates on deposits and regular income. Some of the schemes are also designed to nudge social behavior, such as Sukanya Samriddhi Yojana to promote financial well-being of girl child.
Schemes
As of July 2022, the following are offered:[1]
- Post Office Savings Account
- National Savings Monthly Income (Account)
- National Savings Recurring Deposit
- Sukanya Samriddhi Account
- National Savings Time Deposit (1 year, 2 years, 3 years and 5 years)
- Senior Citizens‘ Savings Scheme
- Kisan Vikas Patra
- National Savings Certificates
- Public Provident Fund Scheme
References
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