There are many schemes available for women to invest in, which help them achieve their financial security and dependency. These schemes not only have the potential for high returns but also provide tax exemption.
Mahila Samman Saving Certificate
If you are a woman and you are thinking of saving, then this scheme may be especially for you, whose name is Mahila Samman Bachat Patra Yojana. The government has started this scheme especially for women. This is a good investment scheme, where you can earn good returns by investing.
| This scheme is available only for women and minor girls. |
| On this scheme you get an annual interest rate of 7.5 percent. |
| You get tax exemption on investments made in this scheme under Section 80C of the Income Tax Act 1961. |
| You can invest a maximum of Rs 2 lakh in this scheme every year. |
| The maturity period of this scheme is only 2 years. |
| You can also join this scheme through post office. |
Keep this in mind also
Even though this scheme provides tax exemption, you may have to pay tax on the matured amount. Premature withdrawal may attract penalty.
Mutual fund schemes for women
There are many mutual fund schemes available for women, which cater to their specific needs.
| Equity Funds for Women: These funds provide women the opportunity to invest in the stock market. |
| Debt Funds for Women: These funds provide women an opportunity to invest in bonds and other securities. |
| Hybrid funds for women: These funds provide women the opportunity to invest in both stocks and bonds. |
Benefits of investing in PPF
| Currently, PPF is offering an interest rate of 7.1 percent, which is much higher than other savings schemes. |
| You get tax exemption on investments made in PPF. Under 80C, you can invest up to Rs 1.5 lakh annually. |
| PPF is a government-backed scheme, so it is completely risk free. |
| PPF is a long term savings scheme, which allows you to invest for a period of 15 years. |
| PPF provides you a lump sum amount after a maturity period of 15 years. You can continue investing in PPF account even after the period of 15 years. |
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